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 “). Continue reading
In my experience, what companies need to start innovating are not good ideas, but a process that allows them to capture and evaluate ideas and select which ones to deploy scarce resources of the organization.
In many companies the excess is creativity. The problem is they do not know what to do with so many ideas. This is why it is very important to define what are the criteria by which they assess the ideas, who are the people who will evaluate the ideas and how they will make decisions to select the best ideas. Continue reading
Get the commitment of the management team
Like any change you want to perform on the job, what you do not have the commitment of top management will not work. It sounds obvious to say, however I have noticed a dramatic difference in the programs of innovation that are initiated and supported by the General Manager, those who are driven only by a functional area.
If top management does not believe in innovation, that attitude will permeate throughout the organization. Eventually, the passion for innovation is something that can not be simulated. Or you have or do not. Or the innovation is in their priorities or not it is. Finally, let’s not fool anyone, people see how long it’s management team dedicated to innovation. Continue reading
Today there is no need to convince anyone about the importance of innovation. Most managers realize that in a world where change is not only constant but accelerating, the company ceases to innovate will lag behind its competitors.
Additionally, the economic crisis we are experiencing has reminded us how important it is to innovate to ensure the survival of our businesses. However, although most managers recognize that innovation is important, very few know how to implement it or have it within their top priorities. Continue reading