Innovation is a lagging metric. Rather than focusing on the nebulous idea of innovation, improve the leading metrics that you can control. "The Value Flywheel Effect" This emphasizes that the impact of innovation is not immediately measurable, as it is considered a "lagging" metric that takes time to materialize. In contrast, "leading metrics" are more immediate and influenced by proactive actions, providing early indicators of potential success. The advice encourages organizations to ground their strategies in tangible, actionable metrics instead of relying solely on the delayed and unpredictable results of innovation. It promotes a balanced approach, suggesting that organizations should actively work on improving aspects of their project/plan within their control to achieve measurable improvements in the short term, while still recognizing the importance of innovation. #innovation
A year has come round fast! ‘The Value Flywheel Effect’ was published by IT Revolution last year, so it was amazing to hear Werner Vogels speaking about the value flywheel at his keynote at AWS re:Invent yesterday