Define Innovation Metrics
If by the end of innovation does not ring the cash register and can not take to the bank, then we are not innovating. This is why it is very important to define metrics to assess whether innovation efforts are paying off. One can define metric entry and exit process. For example, as input metric one can define the percentage of employees who have been trained in innovation or the number of customers were interviewed to identify opportunities for innovation.
As process metrics, one can measure the number of ideas generated per employee per year or the average time it takes to assess an idea. Finally, as an output metric can measure the percentage of ideas implemented, average dollars occurs every idea implemented or the average time we last to launch a new idea to market (time to market “).
Many metrics that an organization can use to evaluate their innovation efforts, it is important that you provide information relevant to improving the performance of its innovation.
We must stop thinking that innovation is something esoteric, abstract and difficult to implement. Existing processes, tools and practices that companies can consistently innovate and make innovation part of the work of each of its partners. All you have to have to innovate is the will to implement it.
credit to: Mario Morales
image source: http://incentive-intelligence.typepad.com/photos/uncategorized/2008/09/22/innovation.jpg
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