Innovation Metrics Revisited

Since we last spoke about metrics in 2009, metrics have remained the critical factor in measuring innovation success. Metrics are used as key performance indicators–how much bang are you getting for your buck? Overall, everyone should assess the percent of sales revenue generated from new products commercialized within the last five years. Other metrics that … Read more

Properties of Innovation Leaders

Somebody within the organization needs to initiate the innovation process. What are the characteristics of innovation leaders? They are often different, operate differently, and go about things differently than most others in the organization. Typically they are adaptive and serves as a catalysts to change others’ perspectives in the organization. Such innovation leaders tend to … Read more

Developing a Network for Your Innovation Environment

An innovation network exists inside and outside your organization. Inside, certain individuals will characteristically have the traits necessary to form strong innovation teams. Outside your organization, the function is called open innovation, sourcing innvotive ideas, intellectual property, products, services, and processess to augment and leverage your internal resources. To outsource your innovation efforts, your organization … Read more

Bridging the Gap Between Marketing and R&D

Ever wonder why the R&D function has trouble “sync-ing” with the Marketing department. Marketing should drive most innovation because marketing has the pulse of the consumer and a sense of consumer trends, and R&D can introduce new technologies that can justify some new product development. Just based on differences in timing alone, Marketing historically can … Read more

How come innovation make CEOs uncomfortable

Essentially, it’s fear. Fear of the uncertainty and unknown. What is the pay back, the ROI? Their bosses and shareholders need a defined path to future profits and sales. Innovation is not an exact science, nor will it ever be. We can assemble the information about the consumer needs, develop and maintain the skill sets … Read more