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Strategic Managerial Accounting – A Primer for the IT Professional by Gopal Saxena

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CHAPTER 6

Tracking and Measuring Innovation

The story of innovation has not changed. It has always been a small team of people who have a new idea, typically not understood by people around them and their executives.

—Eric Schmidt,1 Chairman, Google

There’s no doubt: measuring “innovation” is a fuzzy business. Part of the problem is there isn’t a clear consensus on what marks an innovative company.

—Scott Anthony,2 Innovation Consultant

Introduction

The traditional view is that innovation is a disorganized and random process that cannot be measured. After all, how can one assign a value to the creativity of a person? According to one innovation consultant, even though innovation is one of the key factors of success, it is managed with the least ...

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