Signposts of Innovation: A Review of Innovation Metrics

The Conference Board Economics Program Working Paper No. 17-01

36 Pages Posted: 18 May 2017

See all articles by Xiaohui (Janet) Hao

Xiaohui (Janet) Hao

The Conference Board

Bart van Ark

University of Groningen - Department of Economics; Alliance Manchester Business School

Ataman Ozyildirim

affiliation not provided to SSRN

Date Written: May 3, 2017

Abstract

This paper reviews existing innovation metrics at the company-level and country-level, and proposes a system of signposts of innovation to help executives with a guiding framework and data resources for evaluating and planning innovation strategies and activities. The scope of the review is intentionally very broad, ranging from academic papers, policy papers, reports by consulting firms, reports by innovative firms, and magazine articles to capture a holistic view of the complexity of innovation activities that today’s businesses undertake. We also incorporate input from The Conference Board members’ perspectives identifying some of the most important metrics they currently use or need in the future and identifying signposts around which these metrics are organized. The proposed framework is comprised of six major signposts of innovation (technology, digitization, environmental & social sustainability, customer experience and branding, internal innovation networks, external innovation ecosystems), captures major areas of innovation activities throughout the life-cycle of innovation, and reflects the complexity of new generations of innovation models.

Keywords: Innovation, Metrics, Measurement, Measurement Framework, Innovation Models, Innovation Process, Innovation in Companies, Innovation in Countries

JEL Classification: O3, O31, O32, L2, L20, L26

Suggested Citation

Hao, Xiaohui (Janet) and van Ark, Bart and Ozyildirim, Ataman, Signposts of Innovation: A Review of Innovation Metrics (May 3, 2017). The Conference Board Economics Program Working Paper No. 17-01, Available at SSRN: https://ssrn.com/abstract=2970648 or http://dx.doi.org/10.2139/ssrn.2970648

Xiaohui (Janet) Hao (Contact Author)

The Conference Board ( email )

845 Third Avenue
New York, NY 10022
United States

Bart Van Ark

University of Groningen - Department of Economics ( email )

Economics
9700 AH Groningen
Netherlands

Alliance Manchester Business School ( email )

Oxford Road
Manchester, N/A M13 9PL
United Kingdom

Ataman Ozyildirim

affiliation not provided to SSRN

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