How to measure
Left column below shows how an enterprise (a company in general) gains value from innovation, achieve these objectives and then maintains a culture of innovation.
Right column: how to measure what is in the left column
I hope these hints will arm CIO/CTOs with tools that will allow them to consider filtering a few initiatives (existing more ore less in any company) that probably make more noise than they are well-grounded. These will establish a measuring system that will say more about what is to be pursued and what is not to.
What is important
- to maintain an awareness of information technology and related service trends,
- identify innovation opportunities,
- plan how to benefit from innovation in relation to business needs.
First, it may be obvious to start with analysing what opportunities for business innovation or improvement can be created by emerging technologies, services or IT-enabled business innovation, as well as through existing established technologies and by business and IT process innovation.
- influence strategic planning and enterprise architecture decisions.
What CIO / CTO can do
Except for no.2 that needs IT department’s help, the rest are more or less in the responsiblity of other functions within (any) company.
CIO could pursue the Board to look into no.1, have initiative together with HR (for no.3) and with the Board (and HR) for no.4.
No.5 is again a team work, including the CEO that might need to go systematic and encourage appropriate levels from the entire organisations in approaching customers, suppliers and business partners as to achieve this target of encouraging innovation in relation to third parties.