Five Principles of Innovation Measurement
What gets measured gets managed. Innovation is not serendipity; it’s a managed process of transforming novel ideas to achieve their business value. You can only manage what you measure.
What gets measured gets managed. Innovation is not serendipity; it’s a managed process of transforming novel ideas to achieve their business value. You can only manage what you measure.
In today’s episode of the Innovation Ecosystem podcast, Kevin Cashman discusses with Mark the rationale and research behind "The Pause Principle," which aligns strongly with the notion of “creating space” explored by previous guests like David Allen, Lisa Bodell and Heiko Fischer, among others; about Kevin’s new interest in the concept of “story mastery”; and finally some fresh insights into the qualities of a great versus a good leader.
Currently leading Human Performance for Red Bull, Andy works with hundreds of international athletes and business leaders to develop and implement elite performance models. In today’s podcast, Andy and Mark sit down to discuss the intricacies of human potential and how certain qualities of elite performers resonate across sectors, industries and arenas; how companies can evolve to enable more talented employees to excel and his project Human 2.0 which looks at how new technologies especially in the arena of Artificial Intelligence encourage us to explore our own potential at a much higher level.
Roughly only half of all companies conduct annual performance reviews. Of the fifty percent of companies that do tend to provide consistent and reliable feedback to their employees. However, it can be awkward at times to tell someone on your staff that they aren't doing a good job or attempt to offer constructive criticism without sounding condescending. What are some ways to make a performance appraisal more effective and less awkward for yourself and the employee?
Turning ideas into numbers and knowing the characteristics of the Ideal Idea (0.00iur) is like having a compass and knowing the safe harbor where the minimal risks of innovation converge. Mathematically identifying desired ideas by users, extracted from simplified mathematical formulas, is the Holy Grail that eliminates uncertainties and passionate discussions, which are unhelpful in choosing ideas.
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.
Thanks to loads of compelling research studies and best practice cases in open innovation (OI) carried out over the last decade, several companies nowadays begin to embrace and partially apply the new principles and methods OI offers. However, when managing open innovation at the project level, even experienced managers still go blank at the question: how to assess, control, and measure the performance of these activities? In this series of articles, we will address the above issue by discussing a general framework for an open innovation performance measurement system (Part 1). Given this framework, a metricsbased management toolkit will be presented that provides a suite of key performance indicators (KPIs) for a specific set of OI methods that demonstrates the key results of our Open Innovation KPI 2012 Study (Part 2).
The sixth major issue to be tackled by our distinguished panel of innovation practitioners is the all-import issue of metrics: How do you measure innovation results and outcomes and motivate the organization to deliver across all stages of the process, and what are the best metrics for measuring innovation performance?