The value of innovation knowing proving and showing the value of innovation and creativity a step by step guide to impact and ROI measurement 1st Edition by Jack Phillips, Patricia Pulliam Phillips ISBN 978-1119242376 1119242371

The value of innovation knowing proving and showing the value of innovation and creativity a step by step guide to impact and ROI measurement 1st Edition by Jack J. Phillips, Patricia Pulliam Phillips – Ebook PDF Instant Download/Delivery:  978-1119242376, 1119242371
Full download The value of innovation knowing proving and showing the value of innovation and creativity a step by step guide to impact and ROI measurement 1st Edition  after payment

Product details: 

ISBN 10: 1119242371

ISBN 13: 978-1119242376

Author: Jack J. Phillips, Patricia Pulliam Phillips

Innovation is the life blood of practically every organization. Innovation drives growth, development, and prosperity for many organizations and geographical areas. Sometimes, innovation thrives within a certain geographical location or in certain organizations that are known for their innovative approaches. This outstanding new volume will demonstrate how to measure the success of innovation in all types of organizations.

In the last decade, there have been tremendous investments in creativity and innovations sponsored by companies, cities, states, countries, universities, NGO’s, and even non-profits. With the magnitude of emphasis on creativity and innovation, the sponsors and key stakeholders will demand to know the value of these programs. The Value of Innovation: Measuring the Impact and ROI in Creativity and Innovation Programs will show step-by-step how to measure the impact and the ROI of innovation and creativity programs. The process collects six types of data: reaction, learning, application, impact, ROI, and intangibles. Data are collected analyzed and reported using a systematic, logic model. Conservative standards create results that are both CEO and CFO friendly. This proven process has been used now in 5000 organizations and this new book adapts the method directly to this critical area of innovation, showing examples and case studies.

Table of contents: 

1 The Importance and Challenges of Innovation

Innovation Hype

Articles

Books

Jobs

Speeches

Experience

The Realities of Innovation

Innovation is Not New

Innovation is Necessary for Survival

Innovation is Equated with Success

Innovation is Truly Global

Consumers and Investors Expect Innovation

Innovation is Often Disruptive

Innovation is Not a Single Event

Little Ideas Often Make a Big Difference

Innovation Comes in Many Types and Forms

Innovation Spans Many Different Horizons

Trouble in Paradise: The Misconceptions

Misconception 1: Small Companies are More Innovative

Misconception 2: Uncontested Markets are Good for Innovation

Misconception 3: Spending More on R&D Increases Innovation

Misconception 4: Companies Need More Radical Innovation

Misconception 5: Open Innovation Turbocharges R&D

Misconception 6: R&D Needs to be More Relevant

Misconception 7: Wall Street Rewards Innovation

Innovation Challenges

Innovation is Expensive

Managing Innovation is Difficult

An Innovation Culture is Necessary for Success

Innovation Requires Many Personas

Innovation Success Rates Need to Improve

The Value of Innovation is Unclear

Final Thoughts

2 Status and Concerns about Innovation Measurement

Innovation: Definition, Models, and Measures

Sources of Innovation

Measurement Shifts

Value Perception

The Search for Money

Hoping, Knowing, Proving, and Showing Value

Innovation is Systematic

Macro View of Measurement

Industry Level Measures

Company Level

Concerns about Company Level Measures

Micro View of Measurement

Final Thoughts

3 The Case for a New System

Innovation: A Cost or an Investment?

The Value of Innovation: A Summary

Intangibles and the Fear of not Investing

Relationship Between Variables

ROI Studies

Types of Data

Inputs

Reaction and Planned Action

Learning

Application and Implementation

Impact

Return on Investment

How Does Your Current System Stack Up?

Focus of Use

Standards

Types of Data

Dynamic Adjustments

Connectivity

Approach

Conservative Nature

Simplicity

Theoretical Foundation

Acceptance

Using Design Thinking to Deliver and Measure Results

Start with Why

Make it Feasible

Expect Success

Make it Matter

Make it Stick

Make it Credible

Tell the Story

Optimize the Results

Requirements for the Value of Innovation

ROI Measurement Methodology

Terminology

Final Thoughts

4 Introducing the ROI Methodology

The ROI Methodology

Types of Data

The Initial Analysis

The ROI Process Model

Planning the Evaluation

Collecting Data

Isolating the Effects of the Project

Converting Data to Monetary Values

Identifying Intangible Benefits

Tabulating Project Costs

Calculating the Return on Investment

Reporting

Operating Standards and Philosophy

Implementing and Sustaining the Process

Benefits of This Approach

Final Thoughts

5 Aligning Innovation Projects to the Organization

Creating Business Alignment

The Purpose of Alignment

Disciplined Analysis

Determining the Potential Payoff

Determining Business Needs

Determining Performance Needs

Determining Learning Needs

Determining Preference Needs

Case Study: Southeast Corridor Bank

Developing Objectives for Innovation Projects

Final Thoughts

6 Collecting Data Along Chain of Impact with a Toolbox of Methods

Questionnaires and Surveys

Using Interviews

Using Focus Groups

Measuring with Tests

Measuring with Simulation

Using Observation

Using Action Plans

Using Performance Contracts

Monitoring Business Performance Data

Selecting the Appropriate Method for Each Level

Final Thoughts

7 Measuring Reaction and Perceived Value

Why Measure Reaction and Perceived Value?

Sources of Data

Areas of Feedback

Data Collection Timing and Methods

Using Reaction Data

Final Thoughts

8 Measuring Learning

Why Measure Learning and Confidence?

The Importance of Intellectual Capital

The Role of Learning in Innovation Projects

Challenges and Benefits of Measuring Learning

Measurement Issues

Administrative Issues

Using Learning Data

Final Thoughts

9 Measuring Application and Implementation

Why Measure Application and Implementation?

Problems and Opportunities

Measurement Issues

Data Collection Methods

Using Action Plans

Application Data Use

Final Thoughts

10 Measuring Impact

Why Measure Business Impact?

Collecting Effective Impact Measures

Metric Fundamentals

Business Performance Data Monitoring

Using Action Plans and Performance Contracts

Measuring the Hard to Measure

Final Thoughts

11 Isolating the Effects of Innovation

Why the Concern?

Preliminary Issues

Isolation Methods

Estimate Credibility

Calculate the Impact of Other Factors

Final Thoughts

12 Converting Data to Money

Why Convert Data to Monetary Values?

Key Steps

Converting Output and Quality Data

Using Historical and Expert Estimates

Finalizing Value

Final Thoughts

13 Addressing Intangibles

Why Intangibles are Important

Measuring and Analyzing Intangibles

Final Thoughts

14 Measuring ROI

Why Monitor Costs and Measure ROI?

Fundamental Cost Issues

ROI Calculation

Other ROI Measures

Final Thoughts

15 Forecasting Value, Including ROI

Why Forecast ROI?

Forecasting Approaches

Forecasting Guidelines

Final Thoughts

16 Reporting Results

The Importance of Communicating Results

Principles of Communication

The Communication Plan

Delivering the Message

Final Thoughts

17 Implementing and Sustaining ROI

Why is this Important?

Overcoming Resistance

Developing Roles and Responsibilities

Using ROI as a Learning Tool

Initiating ROI Studies

Monitoring Progress

Final Thoughts

References
Index

People also search for:

the value of innovation
    
the principles of innovation are largely focused on profit maximization
    
the value of not knowing
    
the innovation and learning perspective
    
a value innovation strategy requires