By J. Cosgrove
Innovation is a popular trend in many organizations. Although the willingness to explore new ideas and develop innovative solutions should be applauded, how can an organization determine if such efforts are worthwhile? We propose reviewing the following five steps to help examine the extent to which innovations are accomplishing the desired outcomes.
- Step 1: Have you identified a specific problem which requires innovation? Does the innovation address the problem? Have you outlined expected outcomes?
- Step 2: Is the innovation/solution being implemented as designed?
- Step 3: Have expected outcomes been achieved? Does the data show progress?
- Step 4: Is the innovation worth the cost and effort (after examining the Return On Investment)?
- Step 5: Are you prepared to begin using the innovation in mainstream practices?
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