Demystifying the Link between Innovation and Business Value: A Process Framework

Do not miss my next talk:

Two universal truths underpin most business operations: (1) unless businesses can demonstrate value to their stakeholders on a consistent basis they will lose customers and markets, get overrun by the competition, and eventually become extinct, and (2) to generate business value, an organization must constantly innovate, and do so in an effective and efficient manner.

Innovation is a crucial component of business strategy, but the process of innovation can be difficult to manage. To plan organizational initiatives or bolster innovation requires a firm grasp of the innovation process. Few organizations have transparently defined such a process.

In this presentation, I will offer a process framework and propose mechanisms to measure the value of innovation. The innovation process will be broken down into the discrete stages of idea generation and mobilization, screening and advocacy, experimentation, commercialization, diffusion and implementation. For each stage, I will provide context, outputs and critical ingredients as well as mechanisms to measure performance. I will finish by linking these measures to business value measures.

Specifically you will learn:

1. the stages of innovation -- from creating ideas to commercialization -- and diffusing and implementing products and services
2. how successful organizations conduct activities in each of the stages
3. how to measure process performance and improve its maturity
4. how to link the innovation process to business value measures

This talk is hosted by The Management Roundtable. See Link for more details on the talk.