Innovation Accounting is for Everyone
For a considerable period, I maintained the belief that innovation accounting, the practice of quantifying innovation, was reserved only for those companies that had reached the upper echelons of innovation maturity. My stance was that innovation accounting was a concern best addressed once a company had established fundamentals such as
Cost of Failure vs. Rate of Failure
SUMMARY Without a doubt, many businesses today consider innovation a cornerstone for growth and sustainability. As companies strive to foster innovation-led growth, prioritizing wise investment in innovation becomes essential. Consequently, there is significant emphasis on the success rate of innovation investments, measured through metrics such as the number of pilots
Setting Goals for Innovation
Setting goals for the innovation investment is critical if your company treats innovation as a business imperative activity and not just a nice to have that happens on the sideline. This said, setting goals for innovation becomes even more critical in times when resources are scarce and the company needs
Does Your Company Actually Need Innovation Accounting?
Many companies complain about the lack of innovation metrics but in many cases the lack of innovation accounting is not the most important thing the company needs to focus its efforts on.
Three Things Your Company Needs to Have in Place to Implement Innovation Accounting
In a volatile world where the only certainty is the uncertainty, companies can no longer view innovation as a ‘nice to have’, but a business imperative. A go-to vehicle for sustainable growth. But for long, innovation was seen more as an art form than a science. There is a common
Getting started with a Venture Board
A Venture Board is a key component of an innovation system – without one you can’t get the much needed innovation accounting metrics. here is how you set one up.