Entrepreneurship & Innovation

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Phil McKinney the now ex-CTO of HP describes 6 ways to measure innovation. The six metrics include

• % of Revenue Spent on R&D
• R&D Impact = Gross Margin / R&D Spend
• % of Revenue From Products Launched In The Last XX Years
• Patent quality
• % of Time Executives Spend on Innovation
• R&D Spend – Follow The Money

Instituting these metrics would seem to be very useful in making a company much better at build the next new thing.