Innovation does not move at the same rate as the core business. It often crosses lanes, speeds up and slows down, or sits in a garage for a while as research and development take place.Innovation should therefore be evaluated against different measures as it continues to build up speed to eventually join the main stream of traffic. By extension, it's critical to ensure that there is an effective path for innovation products to make the transition from the on-ramp onto the freeway, which has a different pace and different expectations.
- Innovation thrives in open environments
- Fund innovation against specific incremental goals
- Innovation is management as much as it is creativity
- Integrate innovation functions with the broader organization
Kirsner, Scott. “Don’t Let Financial Metrics Prematurely Stifle Innovation.” Harvard Business Review, March 31, 2021. https://hbr.org/2021/03/dont-let-financial-metrics-prematurely-stifle-innovation.