In an Innovation Point article, Founder Soren Kaplan notes that only one third of Fortune 1000 companies have defined innovation metrics. And yet 77% of business leaders see innovation as a priority. How is it possible that something that is so important to business leaders doesn’t have a defined set of KPIs?
A common misconception is that innovation can’t be taught. Similar to how some people believe that artists are born, not made – innovation has often seemed to be the purview of the great thinkers, the elite, people whose creativity is given, not a matter of practice…
An in-house innovation program is becoming a common fixture in the most competitive organizations. However, in a recessed economy, these research & development programs can sometimes get eliminated, because they struggle to prove or articulate value.
Business Intelligence software is an essential tool for analyzing your company’s strengths and weaknesses. From inventory management, to accounting, to customer intelligence and beyond, there are many ways you can use BI software to inform your decision-making, increase operational efficiency, and gain a competitive edge.
Julie Zhuo, vice president of product design at Facebook, explains the importance of visualizing success before beginning work on a project and how it can help teams avoid the tendency to define success along the way with vanity metrics. The question to ask is, “How will we know if we’ve solved this problem?” Zhuo says. “What would be different in the world?”
Employees located in the same office generally have no lack of interaction and can discuss their projects and demanding tasks together any time. But those who work in different branches and different cities may face real problems with team work. The same happens with those who work remotely and don’t have a physical office. Among the growing number of startups along with big international organizations this problem is growing. Roughly 87% of organizations admit that engagement is one of their top challenges that should be addressed in a proper manner.
While the importance of innovation is crystal clear for many organizations, daily execution usually remains challenging. When renewing products, services or business processes, companies often encounter the same obstacles. But what if companies could learn from each other? Can innovation be streamlined by sharing successes and failures? That’s precisely what the first CREAX innovation roundtable was determined to find out. In collaboration with Oracle, we gathered a diverse group of innovation professionals for a lively debate on how to move from theorizing to getting things done. This is what we learned.
Given the difficulties in developing and working with metrics and measures for open innovation and ecosystems, I have pulled together some inspiration and insights from several articles.
As more companies examine employee-focused innovation training efforts, this article offers some crucial tips to ensure the long-term success associated with this important task.
March 19, 2014 | By: Marc Erkens, Susanne Wosch, Dirk Luttgens and Frank Piller | In: Strategies
How to apply metrics to open innovation (OI)? That’s the question we often get from our clients when they start to develop their open innovation capabilities. In order to provide an answer to this critical question, the following article will focus on the key findings of our Open Innovation KPI 2012 study. Based on this study, a metrics-based management toolkit has been developed, which provides the most relevant key performance indicators from the perspective of innovation managers, subject matter experts, and consultants.
Many people assume that creating new ideas is the beginning of the innovation process, but actually that’s not true. Ideation occurs in the middle of the disciplined innovation process, which we present in this chapter.
Transformational innovation for many businesses is inherently complex and, in many cases, high risk. It can be a big distraction, expensive in terms of cost and resource bleed from other key activities, must be managed carefully and will frequently not be successful. This article explores some key factors to work with when looking for transformational innovation.
National innovation statistics are regularly produced to make some Government agencies feel good about themselves and others feel bad – but do they really tell us how to make innovation happen more easily? In the first of a two part series we see how the French example holds salutary lessons for companies and governments.