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May 27, 2022

Performance Measures

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Performance Measures

Scenario:

In your quest to encourage innovation and entrepreneurial behavior in the medium sized medical equipment company you founded five years ago, you see the need to develop specific measures of performance against which innovative products or services can be measured once they are developed

Summary:

Provide a 1-2 paragraph summary describing the medium-sized medical equipment company you founded (may create hypothetical details along with brief research about such firms). In essence, what is it? What does it do? Who are its primary customers?

Description:

Provide a 1-2 paragraph summary of recent innovations your organization has implemented (may create hypothetical details along with brief research about recent innovations in the field). In essence, what are the innovations? What are the potential benefits of such innovations? What are some of the challenges of the innovations or innovation implementation process?

Proposal of Measures:

Propose how the following financial and non-financial measures will be used to assess and evaluate recent innovations:

Financial Measures

Return on investment

Growth in market share

Profitability

Non-financial Measures

Employee loyalty and commitment

Breadth of employee participation

Employee retention

Employee willingness to change

Strategic repositioning

Competitive capabilities

Potential creation of further breakthroughs

Number of potential future innovations

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