One can only manage what it’s being measured. It is also true for innovation management.
Innovation takes a cycle of observing-questioning-connecting-networking-experimenting. From a management perspective, innovation is how to transform novel ideas to achieve its business value, due to the hyper-complexity of modern business, innovation is essentially about reducing the unnecessary business complexity to tackle the complexities of business dynamic. Here is a series of blogs to brainstorm the practices and pitfalls of innovation management.
Innovation takes a cycle of observing-questioning-connecting-networking-experimenting. From a management perspective, innovation is how to transform novel ideas to achieve its business value, due to the hyper-complexity of modern business, innovation is essentially about reducing the unnecessary business complexity to tackle the complexities of business dynamic. Here is a series of blogs to brainstorm the practices and pitfalls of innovation management.Innovation Measurement
Innovation Measurement: How to Do it Right? Innovation is the light every organization must pursue now, but most of the innovation initiatives fail to achieve the expected result. Druck is credited as saying: “We can only manage what we measure.” What is stopping you from measuring top line impact from innovation, how much revenue is generated by innovations launched in the last 5 years? Are innovation failures caused by the time lag, inefficiency of financial systems? Is your innovation process not so clear with limited information on what has been done, or something else for ineffective innovation management, like a fuzzy or not well-communicated strategy goals? And innovation measurement, how to do it right?
How to Assess and Improve Innovation Management Maturity For many organizations, innovations are still serendipitous. However, serendipity can be planned into an innovation project. Serendipity is not a lucky accident, and it can be planned and worked upon. Has a lot of determination and divine providence for those who believe in that. Serendipity will always play some part in the innovation effort, but innovation is both art and science, Innovation Management is a scientific management discipline, how do you assess innovation management maturity, though?
What are the Pitfalls in Measuring Innovative IT Effectively? IIT as an enterprise group is in a bigger identity crisis than ever, the industrial mode of IT running as a cost center no longer satisfies stakeholders and business partner anymore; the digital mode of IT means speed, agility, and innovation. IT needs to become business’s innovation engine, as the intersection of IT and people is where innovation happens! Companies need to invest in IT necessary to make the business advances through either incremental or radical innovation! However, what are the pitfalls in measuring such innovative IT effectively?
Do KPIs Kill Innovation? Key Performance Indicators (KPIs) are part of an effective bridge between the desired business objectives and execution of strategies. Good KPIs make management more as science than art, however, due to the ‘creative’ nature of innovation, do KPIs kill innovation?
How to Measure Innovation Performance Innovation is about how to implement the creative idea and achieve its business value. One can only manage what it’s being measured. It is also true for innovation management. Innovation performance metrics and tools can help companies think systemically about business innovation.
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