Can GOOD be measured?
Cost of Innovation (COI) is turning out to be “THE” buzzword during and after every challenging times and in crisis, when earlier priorities become a distant memory and new priorities emerge.
The introduction of something new has always been fascinating for the human race. Yet we tend to prefer being surprised and like innovations for its simplicity or similarity to our perception.
Change is exciting when we understand and cope with the loss associated to it. Enterprise transformation is no different. The goal of maximum efficiency and sustaining it across environments is tightly correlated to standardization and adaptive leadership.
Five key factors help in defining the cost of innovation.
Design & Engineering Tools
The sixth factor is Leadership. It is always a new normal for a growing enterprise in this digitally accelerating ecosystem. The probability of gaining a return from an investment (ROI calculation) on innovation should actually be a universal measure of profitability.
The real cost is in not pursuing.
“The greatest measure is the experience.”- Ramesh Periasamy