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Metrics for Firm-Level Business Innovation in Canada The Conference Board of Canada, 62 pages, December 20, 2013 Report by Sorin Cohn , Bruce Good

Metrics for Firm-Level Business Innovation in Canada

The Conference Board of Canada, 62 pages, December 20, 2013
Report by Sorin Cohn , Bruce Good

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This report shows the value of measurement-based management of firm-level innovation by analyzing metrics usage in Canadian industry. It provides framework-based methodologies for using balanced metric portfolios that help enhance corporate performance. Document Highlights Metrics for Firm-Level Business Innovation in Canada is the third in a series of Centre for Business Innovation (CBI) reports. It sheds light on how Canadian firms use—and could potentially use—metrics to manage their innovation activities by analyzing the metrics used, and their effectiveness in supporting innovation performance. By describing the current state of innovation measurement by firms, the report helps Canadian companies identify ways they can enhance their own innovation performance using metrics. In addition, the report provides guidelines and principles for selecting and using the right metrics. It itemizes the step-by-step procedures for designing, adopting, using, and revising innovation performance metrics. Table of Contents Executive Summary Chapter 1—Introduction: Why Metrics? What Is Innovation? Firm-Level Innovation in Canada Framework and Scope of the Report Methodology Chapter 2—How Innovation Is Valued and Measured Why Measure Innovation? Where and What to Measure? How to Measure Innovation Quantitative Metrics Qualitative Metrics Innovation Measurement Pitfalls Frameworks for Innovation Metrics Frameworks for the Innovation Process Strategic Innovation Frameworks Conclusions Chapter 3—Usage of Innovation Metrics in Canadian Firms Assessment of Innovations in Canadian Firms Number of Metrics Used by Canadian Firms Correlation of Number of Innovation Metrics Used With Firm Performance Selection and Revision of Metrics by Canadian Firms Canadian Firms’ Predetermination of Targets Canadian Firms’ Preferred Metrics Conclusions and Comments Chapter 4—Canadian Industry Appreciation of Innovation Metrics Canadian Firms’ Satisfaction With Metrics Innovation Metrics and Their Associated Performance Why Canadian Firms Value Innovation Metrics Conclusions and Comments Chapter 5—Guidelines for Meaningful Innovation Measurement Systematic Approach to Measurement of Innovation in Firms The Value-Add Competitive Innovation Measurement (v-CIM) Framework Principles for Selecting a Balanced Portfolio of Innovation Metrics Designing Effective Metrics for Measuring Innovation Conclusions Appendix A—CBI Survey on Innovation Metrics and Management Appendix B—Bibliography

This report shows the value of measurement-based management of firm-level innovation by analyzing metrics usage in Canadian industry. It provides framework-based methodologies for using balanced metric portfolios that help enhance corporate performance.

Document Highlights

Metrics for Firm-Level Business Innovation in Canada is the third in a series of Centre for Business Innovation (CBI) reports. It sheds light on how Canadian firms use—and could potentially use—metrics to manage their innovation activities by analyzing the metrics used, and their effectiveness in supporting innovation performance. By describing the current state of innovation measurement by firms, the report helps Canadian companies identify ways they can enhance their own innovation performance using metrics. In addition, the report provides guidelines and principles for selecting and using the right metrics. It itemizes the step-by-step procedures for designing, adopting, using, and revising innovation performance metrics.

Executive Summary

Chapter 1—Introduction: Why Metrics?

What Is Innovation?
Firm-Level Innovation in Canada
Framework and Scope of the Report
Methodology

Chapter 2—How Innovation Is Valued and Measured

Why Measure Innovation?
Where and What to Measure?
How to Measure Innovation
Quantitative Metrics
Qualitative Metrics
Innovation Measurement Pitfalls
Frameworks for Innovation Metrics
Frameworks for the Innovation Process
Strategic Innovation Frameworks
Conclusions

Chapter 3—Usage of Innovation Metrics in Canadian Firms

Assessment of Innovations in Canadian Firms
Number of Metrics Used by Canadian Firms
Correlation of Number of Innovation Metrics Used With Firm Performance
Selection and Revision of Metrics by Canadian Firms
Canadian Firms’ Predetermination of Targets
Canadian Firms’ Preferred Metrics
Conclusions and Comments

Chapter 4—Canadian Industry Appreciation of Innovation Metrics

Canadian Firms’ Satisfaction With Metrics
Innovation Metrics and Their Associated Performance
Why Canadian Firms Value Innovation Metrics
Conclusions and Comments

Chapter 5—Guidelines for Meaningful Innovation Measurement

Systematic Approach to Measurement of Innovation in Firms
The Value-Add Competitive Innovation Measurement (v-CIM) Framework
Principles for Selecting a Balanced Portfolio of Innovation Metrics
Designing Effective Metrics for Measuring Innovation
Conclusions

Appendix A—CBI Survey on Innovation Metrics and Management

Appendix B—Bibliography

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