Managing innovation and efficiency - Innovation performance management and measurement
10 important questions on Managing innovation and efficiency - Innovation performance management and measurement
What are the main sources of conflict between Corporate management and Innovation management
Plannability
Autonomy
Rules vs ad hoc
Homogeneous culture and experience vs heterogeneous backgrounds
What is ambidexterity? What is structural and what is contextual?
Structural: Separate groups working on exploiting or exploring.
Contextual: Employees working on both exploiting and exploring activities
What are examples of criteria for innovation projects?
Customers
• Market
• Use
• Compatibility and ease of use
• Distribution and pricing
Capabilities
• Existing capabilities
• Competitors’ capabilities
• Future capabilities
Project timing and costs
• Timing
• Cost factors
Discounted cash flow methods / real options
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What are two examples of combined project assessments?
Data envelopment analysis --> linear programming to measure and calculate different criteria e.g. cash flow estimates, fit with existing competencies, ip benefit, customer desirability, technical feasability
What are frequent issues related to criteria for assessing innovation projects?
• Innovation goals missing or not used in evaluation
• Investments in innovation are uncertain and have different objectives
• Indirect and systemic effects of innovation projects are not considered to a suitable extent
• Measures often biased towards projects with low uncertainty
• Incorrect understanding of innovation economics
What does innovation economics entail?
• Make decisions based on economic effects
• Quantify costs of delays – measure queues and their consequences
• Focus on project costs, not costs for developers.
• Economic choices must be made continuously – reconsider plans
• Always compare marginal costs and marginal value – do not count money already spent
• Decentralize the economic control
• Make sure that decision-makers feel both costs and advantages
• High risk does not necessarily mean bad economics
• Find ways of measuring lost opportunities, or use reasonable estimates of these costs in order to generate a suitable level of risktaking
What are issues related to "who" in idea evaluation?
• Only group level evaluation
• Consensus orientation
• Majority of decision makers focusing on short term performance and incremental innovation
• Nobody representing the ”unborn” businesses
• ”One size doesn’t fit all”
What are pro's and con's of innovation performance management?
• What gets measured gets done
• Innovation is recognized as an important activity
– Innovative employees can be rewarded and promoted
• Effects of supporting initiatives can be followed-up and evaluated
– Actions with real effect on innovation can be identified and reused
• Innovation is not always possible to predict and control
– Uncertain processes makes it difficult to evaluate only performance in terms of output
• If innovation gets too narrowly defined and measured some ad-hoc discoveries may be missed
– Focus on desired innovations reduces time for emergent initiatives
What is an innovation audit?
A tool used to evaluate an organization’s innovation performance and innovation capability.
Innovation and efficiency can be conflicting. What are possible solutions for organisations to be both?
Need for improved integration mechanisms to handle tensions, such as:
– Individual space for innovation
– Increased holistic understanding through job rotation
– Develop ambidextrous managers
– Wider or shared management responsibilities
– Creating alternative channels for innovation, e.g. Idea ombudsman
– Create acceptance at top management for new initiatives,
– Portfolio management deliberately combining radical- and incremental innovations
– Performance measurement focusing on both existing and new businesses
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