How Established Companies Can Develop Successful Innovation Ecosystems
A practical guide for established companies that aspire to develop and sustain their innovation capabilities. Provides frameworks, visualizations, templates, tools and methods that can be easily applied to develop new products and business models
When a company is committed to growing through innovation – not just exploiting the existing business models – standard accounting documents offer insufficient and, oftentimes irrelevant data. Innovation Accounting is a practical guide for these companies to help them measure and track innovation. Most established organizations have understood the need to innovate and become more digital, however the management tools available to leaders seeking to understand the investments in innovation are lacking. Financial accounting in particular is difficult to use in the context of (digital) innovation. Therefore a new complementary system for measuring and tracking innovation is needed.The book provides tools, frameworks, templates, and visualizations that can be easily understood and applied. These can all be used by executives looking for a new way of measuring corporate performance in a world where accounting-recognized assets are becoming commodities, by investors seeking better ways of looking at a company’s growth potential, and by managers who need to valuate innovation product teams using more than just financial indicators. Innovation Accounting is an essential go-to book for anyone that wants to measure their company’s innovation ecosystem.