Measuring Innovation Capability on Organizational Level: Challenges and Solutions
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Keywords:
Innovation, Organizational level, Measuring, Innovation Capability, Performance MeasurementAbstract
To remain competitive in ever-changing markets, organizations must evaluate their capacity for innovation. It does, however, come with a few difficulties. This study examines these issues and suggests workable fixes. The lack of a generally recognized definition and framework for innovation capabilities, the use of arbitrary evaluation techniques, and the dynamic nature of innovation are important problems. The paper suggests adopting broad frameworks that capture different aspects of innovation capability, creating objective measurement tools to capture both tangible and intangible aspects, putting longitudinal studies into practice to monitor changes over time, and coordinating innovation metrics with organizational strategies in order to address these challenges. Organizations may improve their competitive edge in today's quickly changing business environment and obtain important insights into their innovation readiness by methodically tackling these obstacles.
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