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1000ventures.com has very extensive insights on innovation
metrics and best practices, along with several other key areas in business
performance measurement and management. Here Some highlights on innovation
metrics: You cannot manage
what you don't measure. Innovation metrics motivates managers and leaders
across your organization to embrace innovation
broadly and give it ongoing priority. The adage "that which gets
measured gets done" is no less true of the innovation
process than any other. Once innovation goals are broadly communicated
and rewards
for achieving milestones are established, the pace of ideas to
implementation accelerates. Sustainable
growth is the result.
Innovation
metrics should be applied to the three dimensions of your innovation
system - strategic planning, process, and people.
The five classic result measures - performance, quality, timing,
financials, and development costs - tell you what happened, but
don't tell you why. "For example, an 8% drop in quarterly
profits accompanied by a 10% rise in service costs does not tell a
customer service team what its service technicians should do differently
on their next call."
|
New Product /
Innovation Metrics |
Innovation
Performance Metrics
(Measuring Efficiency) |
Innovation
Program Metrics
(Measuring Effectiveness) |
| Cumulative
new product profits and revenues |
Innovation
portfolio mix (new-t-world, new-to-company, improvements) |
| Growth
impact (new product revenue vs. total company revenue) |
Process
pipeline Flow |
| New product
survival rate |
Speed to
market |
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Source: 1000ventures.com |
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Immigrant
entrepreneurs founded 25.3% of the tech startups in the past decade and
foreign nationals -- those living in the United States who are not
citizens -- contributed to an estimated 24.2% of international patent
applications in 2006, according to a new study from Duke University.
Middle
managers spend up to 2 hours a day searching for information to do their
jobs, and more than 50% of the information they obtain has no value to
them, according to results of a recent Accenture survey.
