Creating Better Innovation Measurement Practices
At most companies, innovation is a top managerial priority. Many managers look at successful innovators such as Apple Inc. and Google Inc. with envy, wishing that their companies could be half as innovative. To boost and benchmark innovation, managers often use quantitative performance indicators. S...
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[Erscheinungsort nicht ermittelbar]
MIT Sloan Management Review
2017
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| Ausgabe: | 1st edition. |
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| 520 | |a At most companies, innovation is a top managerial priority. Many managers look at successful innovators such as Apple Inc. and Google Inc. with envy, wishing that their companies could be half as innovative. To boost and benchmark innovation, managers often use quantitative performance indicators. Some measure innovation as results or outcomes, such as sales from new products; others measure innovation as a process, using metrics such as the number of innovation projects; some rely on input metrics; and still others focus on the innovation portfolio by looking at factors such as the percentage of investments in breakthrough projects versus line extensions. The key managerial challenge, the authors argue, does not lie in identifying metrics; there is no shortage to choose from. Rather, they say, it is understanding the problem that measurement should solve for the company and, based on that insight, designing and implementing a useful innovation measurement framework that is appropriate to the organization's needs. To do this, managers need to understand the innovation challenges the company faces, how innovation is currently measured, and the extent to which current measurement practices help or hinder efforts to achieve innovation goals. Only then will they be able to steer clear of common innovation measurement mistakes, such as placing too much value on data at the expense of meaning, or getting bogged down with too many measures that provide contradictory advice and incentivize employees to do the wrong things. The article contains a step-by-step framework that allows managers to identify whether their current innovation measurement practices need to change and, if so, how to go about measuring innovation more effectively. The framework is also aimed at companies that do not currently measure innovation but would like to start. The authors build their framework around three phases designed to help companies improve their innovation management practices: (A) assess current innovation measurement practices, (B) improve core innovation measurement practices, and (C) deploy the improved innovation measurement practices. Each phase involves distinct steps that companies should take. The authors write that their framework "is designed to help both individual executives and companies take control of their innovation measurement and understand the critical decisions, traps, and trade-offs involved - thereby allowing organizations to realize t ... | ||
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To do this, managers need to understand the innovation challenges the company faces, how innovation is currently measured, and the extent to which current measurement practices help or hinder efforts to achieve innovation goals. Only then will they be able to steer clear of common innovation measurement mistakes, such as placing too much value on data at the expense of meaning, or getting bogged down with too many measures that provide contradictory advice and incentivize employees to do the wrong things. The article contains a step-by-step framework that allows managers to identify whether their current innovation measurement practices need to change and, if so, how to go about measuring innovation more effectively. The framework is also aimed at companies that do not currently measure innovation but would like to start. The authors build their framework around three phases designed to help companies improve their innovation management practices: (A) assess current innovation measurement practices, (B) improve core innovation measurement practices, and (C) deploy the improved innovation measurement practices. Each phase involves distinct steps that companies should take. 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| id | ZDB-30-ORH-048533432 |
| illustrated | Not Illustrated |
| indexdate | 2024-12-18T08:47:27Z |
| institution | BVB |
| language | English |
| open_access_boolean | |
| owner | DE-91 DE-BY-TUM |
| owner_facet | DE-91 DE-BY-TUM |
| physical | 1 online resource (9 pages) |
| psigel | ZDB-30-ORH |
| publishDate | 2017 |
| publishDateSearch | 2017 |
| publishDateSort | 2017 |
| publisher | MIT Sloan Management Review |
| record_format | marc |
| spelling | Richtnér, Anders VerfasserIn aut Creating Better Innovation Measurement Practices Richtnér, Anders 1st edition. [Erscheinungsort nicht ermittelbar] MIT Sloan Management Review 2017 1 online resource (9 pages) Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Online resource; Title from title page (viewed October 1, 2017) At most companies, innovation is a top managerial priority. Many managers look at successful innovators such as Apple Inc. and Google Inc. with envy, wishing that their companies could be half as innovative. To boost and benchmark innovation, managers often use quantitative performance indicators. Some measure innovation as results or outcomes, such as sales from new products; others measure innovation as a process, using metrics such as the number of innovation projects; some rely on input metrics; and still others focus on the innovation portfolio by looking at factors such as the percentage of investments in breakthrough projects versus line extensions. The key managerial challenge, the authors argue, does not lie in identifying metrics; there is no shortage to choose from. Rather, they say, it is understanding the problem that measurement should solve for the company and, based on that insight, designing and implementing a useful innovation measurement framework that is appropriate to the organization's needs. To do this, managers need to understand the innovation challenges the company faces, how innovation is currently measured, and the extent to which current measurement practices help or hinder efforts to achieve innovation goals. Only then will they be able to steer clear of common innovation measurement mistakes, such as placing too much value on data at the expense of meaning, or getting bogged down with too many measures that provide contradictory advice and incentivize employees to do the wrong things. The article contains a step-by-step framework that allows managers to identify whether their current innovation measurement practices need to change and, if so, how to go about measuring innovation more effectively. The framework is also aimed at companies that do not currently measure innovation but would like to start. The authors build their framework around three phases designed to help companies improve their innovation management practices: (A) assess current innovation measurement practices, (B) improve core innovation measurement practices, and (C) deploy the improved innovation measurement practices. Each phase involves distinct steps that companies should take. The authors write that their framework "is designed to help both individual executives and companies take control of their innovation measurement and understand the critical decisions, traps, and trade-offs involved - thereby allowing organizations to realize t ... Brattström, Anna VerfasserIn aut Frishammar, Johan VerfasserIn aut Björk, Jennie VerfasserIn aut Magnusson, Mats VerfasserIn aut O'Reilly, Tim VerfasserIn aut Rometty, Ginni VerfasserIn aut Davenport, Thomas VerfasserIn aut Moore, Andrew VerfasserIn aut Hoffman, Reid VerfasserIn aut Agrawal, Ajay VerfasserIn aut Gans, Joshua VerfasserIn aut Goldfarb, Avi VerfasserIn aut Tapscott, Alex VerfasserIn aut Tapscott, Don VerfasserIn aut McGrath, Rita VerfasserIn aut Iyer, Bala VerfasserIn aut Tarafdar, Monideepa VerfasserIn aut Turco, Catherine VerfasserIn aut Parmar, Bidhan VerfasserIn aut Freeman, R. VerfasserIn aut Westerman, George VerfasserIn aut Wilson, H. VerfasserIn aut Daugherty, Paul VerfasserIn aut Bianzino, Nicola VerfasserIn aut Winston, Andrew VerfasserIn aut Ross, Jeanne VerfasserIn aut Sebastian, Ina M. VerfasserIn aut Beath, Cynthia VerfasserIn aut Andriole, Stephen VerfasserIn aut Palmer, Doug VerfasserIn aut Phillips, Anh VerfasserIn aut Bonnet, Didier VerfasserIn aut Maulik, Pete VerfasserIn aut Wixom, Barbara VerfasserIn aut Short, James VerfasserIn aut Todd, Steve VerfasserIn aut Baesens, Bart VerfasserIn aut De Winne, Sophie VerfasserIn aut Sels, Luc VerfasserIn aut Brady, Chris VerfasserIn aut Forde, Mike VerfasserIn aut Chadwick, Simon VerfasserIn aut Mulani, Narendra VerfasserIn aut Alter, Allan VerfasserIn aut Lacity, Mary VerfasserIn aut Willcocks, Leslie VerfasserIn aut Kapoor, Rahul VerfasserIn aut Klueter, Thomas VerfasserIn aut Svahn, Fredrik VerfasserIn aut Mathiassen, Lars VerfasserIn aut Lindgren, Rikard VerfasserIn aut Roberts, Deborah VerfasserIn aut Piller, Frank VerfasserIn aut Byrum, Joseph VerfasserIn aut Bingham, Alpheus VerfasserIn aut Cebrian, Manuel VerfasserIn aut Rahwan, Iyad VerfasserIn aut Cervellon, Marie-Cécile VerfasserIn aut Lirio, Pamela VerfasserIn aut Safari, an O'Reilly Media Company. MitwirkendeR ctb TUM01 ZDB-30-ORH TUM_PDA_ORH https://learning.oreilly.com/library/view/-/53863MIT59101/?ar X:ORHE Aggregator lizenzpflichtig Volltext |
| spellingShingle | Richtnér, Anders Brattström, Anna Frishammar, Johan Björk, Jennie Magnusson, Mats O'Reilly, Tim Rometty, Ginni Davenport, Thomas Moore, Andrew Hoffman, Reid Agrawal, Ajay Gans, Joshua Goldfarb, Avi Tapscott, Alex Tapscott, Don McGrath, Rita Iyer, Bala Tarafdar, Monideepa Turco, Catherine Parmar, Bidhan Freeman, R. Westerman, George Wilson, H. Daugherty, Paul Bianzino, Nicola Winston, Andrew Ross, Jeanne Sebastian, Ina M. Beath, Cynthia Andriole, Stephen Palmer, Doug Phillips, Anh Bonnet, Didier Maulik, Pete Wixom, Barbara Short, James Todd, Steve Baesens, Bart De Winne, Sophie Sels, Luc Brady, Chris Forde, Mike Chadwick, Simon Mulani, Narendra Alter, Allan Lacity, Mary Willcocks, Leslie Kapoor, Rahul Klueter, Thomas Svahn, Fredrik Mathiassen, Lars Lindgren, Rikard Roberts, Deborah Piller, Frank Byrum, Joseph Bingham, Alpheus Cebrian, Manuel Rahwan, Iyad Cervellon, Marie-Cécile Lirio, Pamela Creating Better Innovation Measurement Practices |
| title | Creating Better Innovation Measurement Practices |
| title_auth | Creating Better Innovation Measurement Practices |
| title_exact_search | Creating Better Innovation Measurement Practices |
| title_full | Creating Better Innovation Measurement Practices Richtnér, Anders |
| title_fullStr | Creating Better Innovation Measurement Practices Richtnér, Anders |
| title_full_unstemmed | Creating Better Innovation Measurement Practices Richtnér, Anders |
| title_short | Creating Better Innovation Measurement Practices |
| title_sort | creating better innovation measurement practices |
| url | https://learning.oreilly.com/library/view/-/53863MIT59101/?ar |
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