Measuring Your Innovation Strategy Using Innovation Accounting with Dan Toma
Innovation is a popular growth engine for most companies nowadays, and it is seen by many leaders as an insurance policy. However, the tools and methods available to measure the impact of their investment in innovation are lacking, as they were designed solely for the needs of today’s core business.
In this Roundtable, Dan Toma will discuss Innovation Accounting, a framework he developed with his co-author Esther Gons, who with their 30 years combined experience in innovation management and startups. This framework codifies a measurement system designed specifically for innovation that complements the existing financial accounting system in order to paint a more accurate picture of a company’s innovation prowess. Innovation Accounting equips business leaders and investors with the right set of tools, concepts and indicators needed to understand if a company is running an effective innovation engine or is just burning cash on ‘innovation theater.’ In this Roundtable, Dan discusses:
- How to look at all aspects of a company’s innovation system
- Measuring the performance of individual innovation teams
- How your company can look at its portfolio
- How to assess your company’s innovation culture
- How to measure your growth strategy
