InnoTools – Measured and Managed Innovation in Companies A Nordic Innovation Center Project
Studies have shown that companies’ return on innovation (ROI) or hit rate is somewhere between 2-10%. That is another way of saying that around 90% of all innovation efforts are never commercialised or used in general. If Nordic companies could raise the ROI with just 10-20% this would give them a significant competitive advantage in global competition.
It seems, however, that innovation is still in its infancy as a management discipline, and it seems that if companies start approaching innovation in a more systematic way – e.g. through the application of measured and managed innovation they could increase their ROI at no or small additional costs.
To read the full, original article click on this link: How to Increase Your ROI by Measuring and Managing Your Innovation | InnovationManagement
Author: Jørn Bang Andersen
