Creating Better Innovation Measurement Practices
Finding the right metrics to track innovation is by no means straightforward. To avoid common mistakes, executives should take a holistic perspective on their company’s innovation process.
For most companies, innovation is a top managerial priority. Many managers look at successful innovators such as Apple Inc. and Google Inc. with envy, wishing their companies could be half as innovative. To boost and benchmark innovation, managers often use quantitative performance indicators.1 Some of these indicators measure innovation as results or outcomes such as sales from new products. Others measure innovation ...
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