Effective innovation management is crucial for sustained competitiveness and growth. Enter BS EN ISO 56001, the first global auditable standard for innovation management systems. 

This ground breaking standard provides a comprehensive innovation management system (IMS) framework to build trust, protect intellectual capital, support interoperability, and minimize innovation risk. 

It covers key areas including leadership and commitment, planning for innovation, support, operational processes, performance evaluation, improvement, and integration with other management systems. The standard also outlines the stages of the innovation process, recommends tools and techniques to support innovation activities, and sets criteria for monitoring and measuring IMS performance.

Here's why BS EN ISO 56001:2024 Innovation management system. Requirements is a vital tool for organizations looking to drive sustainable growth and thrive in a dynamic global market through continuous innovation.

What are the benefits of BS EN ISO 56001?

BS EN ISO 56001 offers numerous benefits to organizations by providing a structured framework for managing innovation. Here are the key advantages:

Enhanced innovation capabilities

BS EN ISO 56001 helps organizations build and enhance their innovation capabilities. By following a structured approach, companies can systematically generate, evaluate, and implement new ideas, ensuring a steady flow of innovation.

Increased competitiveness

Adopting BS EN ISO 56001 enables organizations to stay competitive in their respective markets. The standard fosters a culture of continuous improvement and innovation, which is crucial for maintaining a competitive edge and adapting to market changes.

Reduced innovation risk

The standard emphasizes risk management, helping organizations identify, assess, and mitigate risks associated with innovation activities. This structured approach reduces the likelihood of project failures and resource wastage.

Improved collaboration

BS EN ISO 56001 supports interoperability and standardization of innovation practices across different organizations and sectors. This facilitates better collaboration and partnerships, allowing companies to leverage each other's strengths and innovate more effectively.

Integration with other management standards

The standard is built on a foundation of quality and uses a harmonized structure, making it adaptable to other management system standards such as BS EN ISO 9001 (quality management), BS EN ISO 14001 (environmental management), and BS EN ISO 45001 (occupational health and safety management). This compatibility ensures a cohesive approach to managing various aspects of organizational performance, enhancing overall efficiency and effectiveness.

Value creation

The standard helps organizations create value through innovation, whether it be in the form of new products, services, business models, or organizational improvements. This value creation is essential for sustained growth and market relevance.

Fostered culture of innovation

By following BS EN ISO 56001, organizations can foster a culture of innovation where employees are encouraged to think creatively and contribute to innovation activities. This cultural shift is crucial for sustaining innovation and driving continuous improvement.

A comprehensive series of innovation management standards

BS EN ISO 56001 is part of the BS EN ISO 56000 series, a collection of standards designed to guide organizations in building their innovation capabilities. 

The BS EN ISO 56000 family of standards includes three core standards providing the framework for innovation management, and six additional standards that provide tools and methods to support these processes.

Browse the standards in the BS EN ISO 56000 series here.

The versatility and inclusivity of BS EN ISO 56001

The versatility of BS EN ISO 56001 makes it applicable to all organizations, from SMEs to large corporate enterprises, and even entire supply chains and open innovation ecosystems. 

This inclusivity ensures that the benefits of effective innovation management practices are accessible to all, fostering a culture of innovation across diverse industries and sectors. 

The standard provides a solid foundation for innovation to thrive, supporting organizations in adding value through new products, services, business models, or organizational improvements.

Seize the opportunity to enhance your innovation capabilities and stay competitive in today's dynamic market. Get your copy of BS EN ISO 56001:2024 today.