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Innovation management measurement helps companies in understanding the current status of their innovation capabilities and practices. Throughout this control areas of strength and weakness are identified and the organizations get a clue where they have to concentrate on to maximize the future success of their innovation procedures. Furthermore, the measurement of innovation assists firms in fostering an innovation culture within the organization and in spreading the awareness of the importance of innovation. It also discloses the restrictions for creativity and opportunity for innovation. Because of all these arguments it is very important to measure the degree of innovation in the company, also in comparison with other companies. On the other hand, firms have to be careful not to misapply the wrong metrics, because they could threaten innovation and influence thinking in the wrong way.
References
- ↑ "You Need A Chief Innovation Officer". Forbes. 2009-12-16. Retrieved 2014-08-01.
- ↑ Heidrick & Struggles (Time Inc. website) Archived June 2, 2010, at the Wayback Machine "What Makes a Successful Chief Innovation Officer?
- ↑ Miller, W. and Morris, L. Fourth Generation R&D - Managing Knowledge, Technology, and Innovation, Wiley, 1998.
- ↑ Miller, W. Chapter 21 "The Generations of R&D and Innovation Management", Encyclopedia of Technology & Innovation Management, edited by V.K. Narayanan & Gina Colarelli O'Connor, Wiley 2010
- ↑ "5 Key Success Principles – the Cure for Innovation Envy | Innovation Management". Innovationmanagement.se. 2012-06-21. Retrieved 2014-08-01.