Company utilizes innovation measurement system

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Reference no: EM132145789

Although innovation is vital to giving companies a competitive advantage, it will only be successful if it is measured effectively. I agree that one of the biggest benefits to innovation measurement is that it allows the company to maintain a certain pace with their innovation initiatives. Often times, companies find themselves only innovating when they remember to, resulting in innovation projects being started years apart, or they do the opposite and start too many innovations at once. By measuring innovation initiatives, companies can better understand how many innovative projects they can handle at a time. This helps them better reach their strategic goals by providing a framework for which quantitative milestones need to be achieved and when they need to be accomplished. Do you think there are any advantages for employees when a company utilizes an innovation measurement system?

Reference no: EM132145789

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