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 to reshuffle its priorities. Experience […]
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.
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 tendency to conflate creativity with […]
Five Innovation Accounting Indicators that are Telling you if your Middle Managers are Stifling Innovation
It is a well established fact that middle management plays a crucial role in driving innovation. But in the absence of clear indicators for innovation performance it is difficult to say if middle management is actually driving innovation or stifling it.
In previous articles we identified 4 types of open innovation practices incumbents can engage in and we looked at how two of the four can be measured. Specifically how can free and paid pilots be measured, how can acquisitions (M&A) be measured and how venturing (corporate venture capital investments) can be measured. Now let’s turn […]
In previous articles we identified 4 types of open innovation practices incumbents can engage in and we looked at how two of the four can be measured. Specifically how can free and paid pilots be measured and how can acquisitions (M&A) be measured. Now let’s turn our attention to a third type of open innovation […]
In a previous article we identified 4 types of open innovation practices incumbents can engage in and we looked at how one of the four can be measured. Specifically how can free and paid pilots be measured. Now let’s turn our attention to a second type of open innovation activity: acquisitions, more commonly referred to […]
Make no mistake, open innovation engagements are not single-sided deals; they have to work for both partners if they are to be effective. It is vital therefore that chief executive officers of both the corporate and the start-up share common strategic goals of delivering innovation whilst at the same time growing their respective companies, improving […]
In the field of corporate innovation, one of the most often-used terms is “culture of innovation”. It’s the centre of the conversation when market success of companies like NETFLIX, Gore or Zappos is discussed. And it’s also brought up when people have a need to point fingers at some companies inability to grow beyond their […]
Innovation expenditure falls primarily under the operating expense (OPEX) of a company. Because OPEX makes up the bulk of a company’s ongoing costs, leaders typically look for ways to reduce OPEX without causing a critical drop in quality or production output. And innovation is always a prime target when OPEX cuts are needed as initiatives […]