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Technology and measure of innovation

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How does one measure the value of an innovation?
Could you explain how one would use metrics in measuring innovation.

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The solution discusses how does one measure the value of an innovation.

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There are a number of metrics that are commonly used as a basis for measuring innovation:

Revenue growth from new products: This is the most widely used metric by the leading firms. It is based on strategic targets set by the business and an understanding of how the company can achieve its growth targets (the Innovation Gap).

Patent submission: This is an increasingly popular approach that is widely abused by many firms outside of the high tech and pharmaceutical industries. Patents are only one form of protectable intellectual property and many firms focus more on the legal ...

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Sandeep Bardia, MBA
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  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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