BLOG ON INNOVATION AND TRANSFORMATION
Tools and strategies to innovate, solve complex issues, and transform businesses
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Predicting the ROI of Innovation
Anyone involved in corporate innovation will face the challenge of “selling innovation” to the executive team and/or the Board of Directors. The question of the return on investment (ROI) of innovation just keeps popping up. And still no one seems to have cracked it yet.
Indeed, predicting the ROI of innovation can feel like threading a needle in the dark. But while pinpoint precision is out of our grasp, could there be a way to calculate a rough order of magnitude ROI of innovation?
In this article I want to shed light on two essential frameworks and two critical data points that could transform your perspective on innovation ROI.