How to Measure the Performance of Your Investment in Innovation

Every company talks about the importance of innovation and investment in innovation continues to grow.  However many companies are finding that the time and money invested is not giving them the pay back that they had hoped for.But Is it possible to structure your initiatives so that you can drive better return on investment?  And if so, what would that look like?Today I’m talking with Dan Toma, an innovation strategist and author of Innovation Accounting: A Practical Guide for Measuring Your Innovation Ecosystem's Performance, which focuses on why a “one-size-fits-all” approach for measuring an organization’s innovation investments doesn’t work, and how and why the use of a modern and comprehensive innovation accounting system to measure and track innovation is needed for success.In this episode, Dan will be talking about:4 types of innovation and how they help define what innovation means for your company.9 pitfalls venture boards are avoiding to create better outcomes.How to quantify innovation and measure a company’s innovation ecosystem's performance.5 stages to develop the best product development framework for your company. USEFUL LINKS Connect with Dan Toma:  Dan's Linkedin Profile: https://www.linkedin.com/in/dantoma/Dan's Twitter Profile: https://twitter.com/danto_maInnovation Accounting book: https://innovationaccountingbook.com/The Corporate Startup book: https://thecorporatestartupbook.com/Dan's company's website: https://weareoutcome.co/A Seat at The Table podcast website:  https://seatpodcast.comThe Current Situation in Sourcing:  https://thecurrentsituation.netSEND US A MESSAGEVisit A Seat at The Table's website at https://seat.fm