Performance
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“To learn from our past successes and failures, we need to understand how they came about. To continually improve, we must examine not only our innovation performance, but the processes with which we develop and use to exploit these innovations1.”
As briefly mentioned in the above section titled Motivation, a baseline for which the innovation process is measured needs to be achieved through an innovation audit (this can be a self-assessment tool). There are a number of innovation audits available from varying sources (a link to an innovation audit is provided below). These audits focus on the general level of innovation within a company. You should also established specific targets along the innovation process that allow you to measure the progress of the innovation and determine when you have achieved the outcomes of the innovation.
Innovation audit tool:
The audit and targets should be revisited. A new audit at the end of the innovation adventure should be completed which will provide an opportunity to see how far your company has progressed at being innovative. Also review your company’s ability to meet the innovation targets. Did it take longer than expected to reach the targets and was there much variation in the targets reached?
Look for not only difficulties in reaching the goal of the innovation but also positive impacts that have occurred due to the innovation. You may have exceeded expectations. Determine by how much you have exceeded expectations and what factors have contributed to this outcome. These factors need to be incorporated into your learning and improvements for the next innovation adventure.
1 Chiesa V., Coughlan P., Voss CA., Development of a Technical Innovation Audit, Journal of Product Innovation Management, 1996, Vol 13, 105-136
Links to subsections of this topic
Motivation
Strategy and Implementation
Performance
Improve