If you are serious about your innovation efforts, setting the right objectives and performance indicators are key. It is complex and challenging work choosing and defining innovation metrics that will fit the company strategy, but you will benefit from measuring your innovation capability for many reasons. It will help you create an overview evaluation of how innovative your business is, steer employee behavior in desired direction and promote innovation learning. In the end, better handling through measuring your company’s innovation capability leads to improved financial business results.
The Book of Metrics
The reason for writing this book on innovation metrics is the increasing importance of innovative thinking in competitive business environments, and the importance of creating more systematization around innovation in order to excel in this area. Even though most companies are aware of these challenges and are eager to improve their way of working, the term “innovation” is still often viewed upon as somewhat implicit and free-flowing. The purpose of this book is therefore to identify ways of using metrics in a more structured way, in order to improve innovation management and hence innovation performance.
What others say about the book
“Innovation is often invisible until it bursts into view. This book is valuable because it highlights the attributes of innovation ecosystems that are the seeds of future growth”
Thomas C. Skalak
Vice President for Research
University of Virginia
“The Book of Metrics offers a easy to understand framework that facilitates communication and understanding of metrics. This platform is needed when you adapt your metrics to fit the behavior that supports your strategies. It has proven to be a valuable tool in our strive to constantly improve our processes and offerings.”