How to Introduce Innovation Accounting Without Alienating Your Organization
Measuring innovation is one of the toughest challenges for modern organizations. Unlike traditional financial metrics, which offer clarity and predictability, the ROI of innovation is far less straightforward. Yet companies that fail to track their innovation performance risk investing blindly, without a clear understanding of which initiatives are creating value and which are draining resources. […]
The Minimum Viable Innovation Accounting System
For years, executives have cited one consistent barrier to investing in innovation: the inability to measure it. Without clear metrics, innovation is often relegated to the sidelines—seen as a discretionary activity rather than a disciplined driver of growth. The consequences are real: careers in innovation become cul-de-sacs, and companies underinvest in what should be a […]
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 […]
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.
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.
An executive summary of The Innovation Accounting book
An executive summary of the Innovation Accounting Book, Winner of the Golden Axiom Business Book Award 2022 for Business intelligence and Innovation. Definition of Innovation Accounting: “an organized system of principles and indicators designed to gather, classify, analyze and report data about a company’s breakthrough and disruptive innovation efforts – working to complement the existing […]