How do you Measure Innovation?
February 12, 2014 By Soren Kaplan
ABSTRACT:
One of the reasons that only about 1/3 of all Fortune 1000 companies have formal innovation metrics is because this simple question does not have a simple answer.
Metrics can be important levers of innovation – for driving behavior, as well as evaluating the results of specific initiatives. Companies like 3M and Google have had innovation metrics for years – the most noteworthy that 10% of employees’ time is dedicated for experimentation with new opportunities. Some companies like 3M have tried to mandate that 35% of the corporations’ revenues should come from products introduced within the past four years.
[READ THE FULL ARTICLE]