How to Define Clear Innovation Objectives and Goals

According to Gartner, a major reason for innovation program failure is incomplete guidance. Leaders can improve the likelihood of success for innovation initiatives by designing goals that inform the innovation process on the outcomes of importance leading to focus, give a timeline that enables the right selection of innovation activities and determine the resources and competencies needed for success. Goals increase the potential that innovation efforts have high business value and impact while mitigating the risks of going in the wrong direction. Gartner recommends framing goals using the SMART approach: Specific, Measurable, Actionable, Realistic, and Time-bound. ITONICS supports clients in addressing the challenges and approaches outlined by Gartner with an end-to-end innovation management platform.