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Here are three early-stage indicators to consider in your innovation process.
1. Percentage Of Workforce Trained In Innovation
Do your employees know how to systematically and continuously generate profound innovations in scale? Do your managers understand the complexity of finding the optimal blend and levels of input, output and process constraints for maximum innovation? Does your innovation team understand why it’s dangerous to start with standard business requirements gathering? Does your team know how to facilitate discussions, not for consensus but for divergent thinking?
2. Dedicated Talent Resource To Innovation
Can you become a concert pianist by taking a lesson or two? Similarly, innovation is a skill that’s mastered over time. The amount of time managers spend on innovation compared to their regular job is a key indicator of success. Many businesses partially allocate resources. Employees have to split their time between their regular day job and multiple projects, resulting in part-timers doing part-time innovation. Innovation requires dedicated resources doing innovation on a full-time basis over an extended period of time to sharpen their skills and experience. If successfully structured and supported, they build competence and knowledge over time, which in turn increases their ability to turn know-how into implementation to realize business objectives.
3. Level Of Commitment To R&D
In some organizations, innovation is treated as skunkworks – but without dedicated resource allocation or the adequate budget and time needed to discover, experiment, fail and repeat until radical innovation is realized.Amyx, S. (n.d.). Three Must-Have Early Innovation Indicators. Retrieved October 26, 2019, from Forbes website: https://www.forbes.com/sites/forbesbusinesscouncil/2019/10/23/three-must-have-early-innovation-indicators/