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

October 3, 2018

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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If you've got any questions on this podcast feel free to send an email to steve@collectivecamp.us or tweet me on Twitter @steveglaveski or @future_squared

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About steve glaveski

Your host and occasional cybernetic organism, Steve Glaveski, is committed to helping people better navigate the growing uncertainty that technology change brings, in order to survive, thrive, create more value for the world and lead more fulfilling lives.

Steve is the CEO and co-founder of innovation accelerator Collective Campus, founder of children's entrepreneurship program Lemonade Stand, author of Amazon best-seller The Innovation Manager's Handbook and the Wiley book, Employee to Entrepreneur, investor in blockchain based fractional property investment platform Konkrete and is a keynote speaker and startup advisor.

When not fighting T-1000s Steve can be found in the gym, hiking, skating at the beach, attempting standup comedy, at a heavy metal show or socially lubricating at a whisky bar.

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