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Innovation assurance
CAE ConferenceNovember 2019
PwC Innovation assurance
As technology continues to subvert traditional ways of doing business, companies are under increasing pressure to take advantage of new solutions around RPA, AI, big data, blockchain, cloud and more in order to promote innovation and realise new areas of growth.
At the same time, enterprises must also balance the old and the new with the potentially destructive risks that accompany digital transformation.
Our Business Control Risk services aim to help companies capture opportunities from digital development, while managing the risks of regulatory compliance, information leakage, asset theft and business interruption in the digital era.
Business control risk in the Middle East
PwC
Firas HaddadPartner – Business Control RiskPwC Middle East
Mohammad ShahinDirector – Business Control RiskPwC Middle East
1PwC Innovation assurance
PwC Innovation assurance
Agenda
Sections
Defining innovation assurance
State of innovation across UAE
Innovation assurance and risk management road map
Example for clarification
1 2 3 4
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PwC Innovation assurance
Defining innovation assurance
PwC Innovation assurance
Innovation definition is the aspiration of individuals, private institutions and governments to achieve development by generating creative ideas and introducing new products, services and operations that improve the overall quality of life.1
Innovation Assurance is an approach that leverages tools to assess where your entity stands against the Innovation dimensions.
1UAE National Innovation Strategy.
Overview
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Successful innovators share six common characteristics:
Close alignment of innovation strategy with business strategy
Leadership is closely involved with the innovation programme
Company-wide cultural support of innovation
Base innovation on direct insights from end-users
Ability to integrate all these characteristics
Rigorous control of project selection early in the innovation process
2018 Global Innovation 1000, Strategy& PwC
PwC Innovation assurance
PwC Innovation assurance
Innovation operating models incorporate 12 dimensions in order to be effectiveThe 12 dimensions to PwC’s innovation risk framework are crucial in enabling innovation to become a thriving capability that can be a source for problem solving, intrapreneurship and growth.Our framework, engagement methodology and innovation risk toolkit make up the innovation assurance proposition.
12
3
4
56
7
8
9
10Meaningful
metrics
Inspiring leadership
Innovative culture
Lean governance
Smart funding
Integratedstructure
Collaborative ecosystem
Entrepreneurial talent
Dynamic process
Diversified portfolio
Innovation strategy
Business alignment
5PwC Innovation assurance
PwC Innovation assurance
State of innovation across UAE
PwC Innovation assurance
State of innovation across UAE
Innovation is part of the pillar 'United in Knowledge' of Vision 2021 which focuses on innovative Emiratis building a competitive economy across all Emirates.
The UAE has improved its standing in the 2019 Global Innovation Index, topping all Arab countries and ranking 36th globally cementing its status as one of the world’s most innovative Arab countries.
Global innovation indexThis research based on the ‘Global Innovation Index (GII)’ (conducted in 2018) provides detailed metrics about the innovation performance of 126 countries which represent 90.8% of the world’s population and 96.3% of global GDP. Its 80 indicators explore a broad vision of innovation, including political environment, education, infrastructure and business sophistication. ‘UAE Leads Arab Countries in Innovation’ .
Rank Country Score
1 Switzerland 67.24
2 Sweden 63.65
3 United States of America 61.73
4 Netherlands 61.44
5 United Kingdom 61.30
36 United Arab Emirates 42.17
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PwC Innovation assurance
State of innovation across UAE (Cont’d)
Innovation diploma
The programme is conducted in partnership with the University of Cambridge in the UK. It aims to support the government plan to prepare a generation of innovative CEOs in the government entities
Government innovation labs
The labs consist of interactive sessions and workshops that use innovative methods to inspire innovative ideas.
Ibtikar talks
Ibtikar talks aim to make a serious and comprehensive transformation in government operating model
‘Afkari’ initiative
The UAE government launched‘Afkari’, a government initiative at the federal level to support and fund innovative ideas of federal government employees
‘CEO of Innovation’, a new post in government entities
The UAE has created a new post titled 'CEO of Innovation' for every government department.
Several steps and initiatives have been undertaken to promote and encourage innovation in the UAE.
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PwC Innovation assurance
Focused look at UAE National Innovation Strategy ‘NIS’
The National Innovation Strategy (NIS) in the UAE primarily focuses on identified priority sectors that will drive future innovation. Below are the prioritised targeted sectors and champions based on NIS strategy.
Innovation priority sector
Renewable clean energy Transportation Technology Education Health Water Space
Innovation champions
Individuals Companies and institutions
Innovative government
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PwC Innovation assurance
Syncing our approach to NIS elements
NIS Innovation elements
PwC Innovation framework
12
3
4
56
7
8
9
10Meaningful
metrics
Inspiring leadership
Innovative culture
Lean governance
Smart funding
Integratedstructure
Collaborative ecosystem
Entrepreneurialtalent
Dynamic process
Diversified portfolio
Innovation strategy
Business alignment
Enhancedinnovative
environment
Competitive environment
Humancapital
Technologyinfrastructurecommunication
Entity’sinnovation
journey
Productsand
servicesRegulatoryenvironment
Infrastructure
Fundingand
investment
Enhancedinnovative
environment
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PwC Innovation assurance
Innovation assurance and risk management road map
PwC Innovation assurance
Innovation assurance for risk management
Innovation Assurance is much more than a tool to assess the 12 innovation dimensions. It is about developing an environment where the full potential of innovation is realised.
Assess the existing capability and controls against our framework to identify gaps and risks, and propose recommendations to address identified concerns
Support in the design of controls, models and processes to ensure they incorporate best practice
Test the effectiveness and appropriateness of new innovation controls to ensure they are enabling innovation to thrive, whilst providing confidence to senior stakeholders
Provide ongoing support for the implementation of recommendations, controls and/or transitions to new innovation operating models
Review and recommend
Designadvisory
Test andoperate
Implementation support
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PwC Innovation assurance
Example for clarification
PwC
Our innovation SMEs were engaged through Internal Audit to review an innovation function struggling to transition products into global markets. We provided pragmatic advice to establish greater control on the prioritisation of investments and access the resources of the business.
Syngenta
14PwC Innovation assurance
pwc.com
Questions?
This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.
© 2019 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.
191117-163322-SA-OS
Firas HaddadPartner – Business Control RiskT: +971 (0)56 501 8293E: [email protected]
Mohammad ShahinDirector – Business Control RiskT: +971 (0)54 793 3563E: [email protected]
Contacts
