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Metrics for innovation: guidelines for developing a customized suite of innovation metrics

Amy Muller (Director at Strategos (amuller@strategos.com), an international strategic management consultancy – focuses on strategy innovation in the technology and consumer goods industries. She is based in Burlingame, California.)
Liisa Välikangas (Managing director at the Woodside Institute, located in Woodside, California (lvalikangas@woodsideinstitute.org), was formerly the director of research at Strategos.)
Paul Merlyn (Senior analyst, researcher, and cofounder of the Woodside Institute (pmerlyn@woodsideinstitute.org).)

Strategy & Leadership

ISSN: 1087-8572

Publication date: 1 February 2005

Abstract

Purpose

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During the past year, the authors have built a framework for a suite of metrics that senior managers can customize to track and promote innovation success in their companies.

Design/methodology/approach

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Senior executives can use the suite of metrics to assess their company's innovativeness over time and hence combat the insidious strategy decay that often afflicts a company's business.

Findings

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The framework combines three views on innovation – resource, capability, and leadership – providing the perspective to develop a suite of metrics for assessing and developing a company's capacity for innovation.

Research limitations/implications

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The optimal selection of metrics and the optimal value or “sweet spot” of any particular metric will vary from company to company.

Practical implications

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As more firms develop strategic innovation metrics and a database that validates their relevance, top managers will learn to assess and guide a company's innovation capability more effectively.

Originality/value

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This is the first strategic guideline for building a customizable system of innovation metrics.

Keywords

Citation

Muller, A., Välikangas, L. and Merlyn, P. (2005), "Metrics for innovation: guidelines for developing a customized suite of innovation metrics", Strategy & Leadership, Vol. 33 No. 1, pp. 37-45. https://doi.org/10.1108/10878570510572590

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Publisher

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Emerald Group Publishing Limited

Copyright © 2005, Emerald Group Publishing Limited

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