Innovation measurement & activities for manufacturing companies

University essay from Blekinge Tekniska Högskola/Institutionen för industriell ekonomi

Abstract: Today's business environment has become increasingly competitive, which is partly due to an expansion in globalization coupled with higher consumer demands. This places greater demands on flexibility and consciously of innovation. Traditional innovation measurement focuses on measuring output, which means that it can take years to evaluate and map the innovation process. The aim of the following project is to identify activities that enable companies to monitor and develop their innovative activities. The metrics are tools that help organizations control and develop innovations, to strengthen their innovation process. The study was initiated with a systematic literature review with the objective to highlight important aspects of innovation and innovation measurement. Empirical data was collected through the qualitative method, where 13 semi-structured interviews were conducted. Three of the interviews were with researchers that have knowledge in the field of innovation. The remaining interviews were conducted with employees at case company Dynapac. Based on the theoretical and empirical findings, a definition of innovation has been identified for the manufacturing sector. Within the case company, the challenge was to analyse the current metrics and develop future metrics. The researchers reveal the importance of implementing a measurement system that drives activities related to the development of innovative work and capabilities, to ensure continuity. Ten metrics have been identified for the innovation process. These have been categorized into input, process, and output to guide companies in the innovation process. The metrics were categorized by four types: capability, organization, market and financial. The objectives with the metrics are to capture the full range of the innovation process and the activities that are relevant to each metrics. The metrics are actively promoting keeping track or supporting reflection about innovation activities.

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