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 an innovation process, a framework […]
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 implemented from those started, the […]
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 to reshuffle its priorities. Experience […]
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 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.
Measuring Open Innovation: measuring joint ventures
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 […]
Measuring Open Innovation: measuring corporate venture capital
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 […]
Measuring Open Innovation: measuring M&A
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 […]
Measuring Open Innovation: measuring free and paid pilots
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 […]