The Corporate Innovation Index measures an organization's innovation performance and capabilities. It typically involves assessing factors such as:
1. Innovation Strategy: Alignment of innovation efforts with business goals.
- Leadership and Governance: Support from leadership and the structure to foster innovation.
- Resources and Investment: Allocation of time, budget, and talent for innovation.
- Process and Execution: Systems and workflows in place to manage and implement innovation.
- Culture and Mindset: The organizational environment encouraging creativity and risk-taking.
- External Collaboration: Partnerships and collaboration with external innovators, startups, or research institutions.
- Innovation Outcomes: The tangible results, such as new products, services, or market success, generated by innovation efforts.
The index provides insights into areas of strength and opportunities for improvement in driving corporate innovation.