Strategic Innovation: Embedding Innovation as a Core Competency in Your Organization

BUSINESS RESULTS MEASURES

Results goals focus on the business results from the innovation effort. We considered a number of different options to measure progress and landed on three complementary approaches. First, we wanted to continuously assess the health of our pipeline for new business ideas. Second, we were interested in the revenue potential for ideas moving through the pipeline. Third, we wanted a solid set of measures regarding the amount of revenue we were generating as a direct result of our innovation effort.

To measure progress toward these goals, we found that we had to establish new data collection and reporting requirements that did not exist in the old system. It took us a year of hard work to do this. First, we put together ...