Innovation metrics: Some progress but could do much better

Abstract

Purpose

Reviews the latest management developments across the globe and pinpoints practical implications from cutting‐edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

Even in the current economic turmoil, innovation remains a high strategic priority for most companies, and it is typically seen as a strong contributor to growth. Yet many of these same companies still struggle to measure, as effectively as they should, the performance of their innovation activities. A fact confirmed by three different studies on innovation practices and measures conducted during the later half of 2008. For instance, the Boston Consulting Group's Senior Management Survey entitled “Measuring Innovation 2008; squandered opportunities” found that only 43 percent of companies surveyed track innovation as rigorously as they track other (and less important) business operations, even though three out of four executives believes they should do so. Also, only 35 percent of executives are satisfied with their company's current innovation‐measurement practices.

Practical implications

Provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.

Citation

(2009), "Innovation metrics: Some progress but could do much better", Strategic Direction, Vol. 25 No. 4, pp. 35-38. https://doi.org/10.1108/02580540910943550