Future Squared Episode #186: The One Metric That Matters for Corporate Innovation

Future Squared Episode #186: The One Metric That Matters for Corporate Innovation
October 6, 2017

Future Squared Episode #186: The One Metric That Matters for Corporate Innovation

What gets measured gets managed. When it comes to corporate innovation, it’s easy to focus on metrics such as ideas captured by an idea challenge, the number of prototypes developed or experiments run. But with most corporate innovation initiatives quickly degenerating into theatre, failure rates are running high (eg. 80-90% of innovation labs fail). 

Such failures ultimately lead to senior stakeholders withdrawing their support while intrapreneurs become increasingly dissatisfied and leave the organisation to seek out greener, more innovative pastures elsewhere. This really hurts a company’s prospects for innovating in the long-term - something few companies can ill afford in today’s climate. 

Corporates need to get more adept at identifying and monitoring the metrics that matter when it comes to their innovation programs if they are to avoid such pitfalls.  

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Steve Glaveski

Steve Glaveski is the CEO and Co-Founder of Collective Campus which he established to help companies and their employees to create more meaningful impact in the world in an age of rapid change and increasing uncertainty. Steve also founded Lemonade Stand - a children's entrepreneurship program, wrote the Innovation Manager's Handbook vol 1 and 2, hosts Future², an iTunes chart topping podcast on corporate innovation and entrepreneurship and is a keynote speaker. He previously founded HOTDESK, an office sharing platform and has worked for the likes of Westpac, Dun & Bradstreet, the Victorian Auditor General's Office, Ernst & Young, KPMG and Macquarie Bank. Follow him at @steveglaveski and Book a free 15-minute call with Steve to talk through your innovation objectives.

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