Measure and track innovation progress from "summary" of The Innovation Book by Max Mckeown
To keep innovation on the right track, it is crucial to measure and track progress. By doing so, you can ensure that your efforts are moving in the right direction and producing results. It's like embarking on a journey without a map – you may be going somewhere, but you have no idea where you're heading or how far you've come. Measuring and tracking innovation progress involves setting clear goals and objectives at the outset. These goals serve as benchmarks to evaluate your progress and determine whether you're on the right path. Without clear goals, it's easy to get lost in the process and lose sight of what you're trying to achieve. Once you have established your goals, it's important to regularly assess your progress against these targets. This evaluation allows you to identify any areas that need improvement and make necessary adjustments to stay on course. It's like checking your compass periodically to ensure you're heading in the right direction. In addition to setting goals and monitoring progress, it's essential to track key performance indicators (KPIs) related to innovation. These KPIs provide a snapshot of how well your innovation efforts are performing and help you identify areas of strength and weakness. By tracking these metrics, you can make informed decisions about where to focus your resources and efforts for maximum impact.- Measuring and tracking innovation progress is a critical step in the innovation process. It ensures that you stay focused on your goals, make informed decisions, and ultimately achieve success in your innovation endeavors. Just as a pilot constantly monitors the instruments in the cockpit to navigate safely to their destination, measuring and tracking progress is your instrument panel for successfully navigating the innovation landscape.
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