Post on 09-Mar-2016
description
3 tips to measure
innovation
Tip # 1Measure input
Number of man hours allocatedto innovative activities in month x
Total number of man hours in month x
= Y %
Money invested in innovative activities in month x
Total sales of the company in month x
= Y %
� Measure the number of ideas generated per time unit, for example per month.
� Measure the number of hours per time unit that a personspends on trying out new things .
� Measure the number of hours per person per time unit invested in innovation education , for examplewatching presentations about innovation on the Internet.
� Measure the number of people, who tweet about innovation,that a person follows on social media.
Other methods to measure input
Tip # 2Measure output
Sales from new products / services in year x
Total sales of the company in year x
= Y %
� Measure the number of new products/serviceslaunched per time unit, for example per 3 months.
� Measure costs saved per time unit, for example per month, due to new idea.
� Measure the return on investment on capitalinvested in innovative activities.
� Measure the number of new customers per time unit, for example per 3 months.
� Measure the change in a company’s market valueper time unit.
Other methods to measure output
Tip # 3Measure
the process
The number of ideas that are implemented
The total number of ideas developed= X %
� Measure the time it takes from the day an idea is suggested to the day that a resulting service / productis used by a customer.
� Measure the number of barriers that a personexperiences between the day he/she communicatesthe idea to the day that the product / service is launched.
� Measure the number of times that a person with a new idea gets praise until the product / serviceis first used by a customer.
Other methods to measure the process
Some sources
http://www.associatedcontent.com/article/2817678/how_to_evaluate_ideas.html?cat=55
http://www.associatedcontent.com/article/2545291/what_are_the_best_metrics_for_measuring.html?cat=3
http://blog.thinkforachange.com/2011/01/14/measuring-ideas.aspx
http://creatingminds.org/tools/tools_selection.htm
http://innovateonpurpose.blogspot.com/2011/03/criteria-for-your-idea.html
http://www.innovationmanagement.se/2011/10/10/measuring-for-innovation%E2%80%93a-guide-for-innovative-teams/
http://www.realinnovation.com/content/c080811a.asp