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How to Assess and Measure Business Innovation

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How to Assess and Measure Business Innovation

CreateSpace,

15 min read
10 take-aways
Audio & text

What's inside?

Yes, you can measure and manage innovation, but you must have the right tools. 

Editorial Rating

7

Qualities

  • Analytical
  • Well Structured
  • Overview

Recommendation

The members of the Innovation 360 Group consulting firm, Magnus Penker, Peter Junermark and Sten Jacobson, analyzed more than 1,000 companies in more than 60 countries to build an extensive database on innovation. They examine their respondents’ insights on how – and why – innovation projects prosper or fail. They use charts, lists and illustrations to organize their discussion of the tools available to you for measuring and managing innovation. Their analysis of the nature of innovation may challenge the uninitiated, but their data and suggestions are clear. getAbstract recommends this thoughtful, research-based work to all executives who manage innovation projects.

Summary

The Fourth Industrial Revolution

As rapid, global forces drive ongoing change, a company’s past track record has little explanatory value in projecting its future. Today’s Fourth Industrial Revolution radically alters how business, society and culture function. Yet, this new paradigm offers vast opportunities to those who understand its fundamental nature: constant, evolving change.

The First Industrial Revolution replaced human muscle with mechanical energy. The Second Industrial Revolution saw the advent of electrical energy and tremendous growth in the scale of production. In the Third Industrial Revolution, computers and other automated systems came to control production. The 21st century has ushered in the Fourth Industrial Revolution. Now, researchers and scientists are merging the pivotal characteristics of previous industrial revolutions. For instance, they are combining electrically powered and computer-controlled machines with “biological systems.” No one yet knows what these advances and many others may ultimately produce.

How Companies Innovate

The “InnoSurvey,” which questioned more than 1,000 companies in...

About the Authors

Magnus Penker is an authority on innovation and digitization. Peter Junermark, an acclaimed trainer, has worked with several leading global brands. Sten Jacobson is a management consultant. Together, they make up the Innovation 360 Group consulting firm.


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