Topic
Measurement of Innovation
Instructions
Write a paper on Measurement of Innovation: Determining Creativeness of an
Organisation through Decision Framework.
Use the format below:
Introduction
Definition of innovation
Innovation Perspectives (creator versus consumer)
How do we do it?
Some example Innovation models and benefits
The ever increasing need for Innovation
Measuring and Managing Innovation
Outcome driven Innovation
Opportunistic Innovation
The connected organisation people and knowledge solutions
Developing a formal Innovation Process for sustainable success
Innovation value stream analysis
How to measure we are creating increasing value from Innovation
Some example Innovation KPIs
Innovation Management
Creating an Operating Model for Innovation
What are the main benefits related to the control of Innovation processes?
Why is Innovation management relevant for business growth?
How can we be more effective in addressing our key problems?
Conclusion
Answer preview
Innovation is one of the most important determinants of the competitiveness of any modern firm that is keen on remaining relevant and afloat in the business. Innovation occurs not only in the creation of new products but also the introduction of new aspects in the business processes and operations to boost efficiency. The current business environment is increasingly competitive. Competitors are adopting creative strategies to sustain their market share and profitability (Luís Vala, Renato Pereira & Isabel Caetano, 2017). This means that business corporations must be on the lookout for new ideas and information, which they can integrate into their products and processes to enhance operations. This is the case for both small and mid-sized businesses, as well as large, established multinationals.
Word count: 10542