Innovation In-House (Separate Department Approach) - Deepstash
Innovation In-House (Separate Department Approach)

Innovation In-House (Separate Department Approach)

Creating a new department centralizes company-wide innovation efforts. The department collects new ideas from all employees and across hierarchies, gather ideas from outside of the company, evaluate unique ideas, execute feasibility studies, and prepare business cases.

The biggest challenge is setting the right key performance indicators (KPIs) and return of investment (ROI). Another is the not-invented-here syndrome (NIH) that will have to be challenged.

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harleyjj

Deep thinker. Like talking about the world, religion and politics.

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