Measuring Innovation & Driving Progress in Innovation
Innovation is a process that is best managed with a long-term perspective, not necessarily measured in long time increments but rather in completion of prioritized goals. This session will look at the stages of the innovation process and how to implement them: planning, defining the course of action, establishing the motivation, attributing the action items, prioritizing, monitoring, creating new metrics to underpin desired new behaviors, new structures, considering input and output metrics and a suite of leadership metrics to support specific growth initiatives. Creating and driving the effective use of innovation metrics requires a strategic and disciplined approach that starts with the enterprise growth strategy and cascades throughout each business unit, division and group structure. How to establish metrics that support the collective innovation goals of the organization, permitting business leaders to drive return on investment, organizational capability and leadership behavior at multiple levels of the firm. How to create the essential feedback loop allowing for ongoing learning, re-prioritizing and new goal setting?