Assessing Your Organization's Potential for Value Innovation

OVERVIEW:Organizations must be innovative all across the value chain, not just in R&D, in order to succeed in today's rapidly changing economic environment. Over the past two years, an Industrial Research Institute subcommittee has worked to develop a valid and reliable survey tool, using good psychometric (measurement theory) practices. This tool can be used to assess the level of an organization's Value Innovation potential, what we call the Value IQ. Using this assessment tool can produce useful information for managers who want to strengthen innovation in their organizations.