Key Performance Indicators: Innovations Team

Key Performance Indicators Innovations Team Business Development Department 1 September 2008

Prologue • Within the Business Development department of MAPL – INNOVATIONS is a specialized cell whose objectives & methodologies may vary from other specialized cells of the group • i.e. Is Innovations = Strategic Planning? • i.e. Is Brand PR = Carrot Communications = Connect PR?

– So, in order to further clarify INNOVATIONS, a ‘working’ definition is needed…

Not always!

Defining INNOVATIONS • Any process or adaptation through which either – 30% increase in operating efficiency is achieved – 30% increase in operating profit is achieved • OR BOTH!

• A new way of doing the same thing OR the same way of doing a new thing • OR BOTH!

• innovate = to give birth to = conceive = create opportunity to conceive…

But… • Creating the opportunity to conceive implies that the organization must have – STRATEGIC PATIENCE

• For the following KPI’s to be ‘working’ • But with a deadline! – i.e. Google Work Ambiance: ‘let them roam and results will come’ – i.e. Toyota Innovation Goals: ‘1m innovations per year’

• Though, there are negative variables of strategic patience – The Bangladesh mindset is ‘results now’ – Internal politics sometimes don’t allow these processes – Employee turnover makes it difficult to implement these in the long term

Keeping that in mind...

Key Performance Indicators for Innovations Team Using action words!

‘Create’ new relationships •

WHAT With clients

HOW 2. Cold call, introductory letter, email

•

With internals

4. Lunch, desk visit

•

With clients, 3rd parties

6. Open calls, events

•

With brands

8. Using something different from the current

‘Improve’ the present 2.

WHAT Review the past

4.

Forecast the future

6.

Practice personal improvement

8.

Pay strict attention to waste management

2.

HOW Plan to give a different solution with ‘examples’ & learning from the past

4.

Plan to give a different solution keeping the future variables in mind

6.

Improve housekeeping habits & etiquette

8.

Reuse, recycle, reduce

‘Elevate’ new leaders WHAT

HOW Put yourself in their shoes

2.

Empathy

2.

4.

Listening Skills

4.

To their personal & professional issues

6.

Teaching

6.

The how and what and hownot-to and what-not-to

8.

Stepping aside

8.

Delegate

10. Introducing

10. Openly praise, criticize, admonish, but at least state a ‘positive’ about the person Vertically & Horizontally

‘Make’ room for fresh ideas 2.

WHAT Forget about the past

2.

4.

Share & learn

4.

6.

Exercise the brain & body

Practice ways of sharing information vertically & horizontally

8.

Interact

6.

Cafeteria, Gym, Diet

8.

Speak up and be heard

10. Agenda

HOW Try to avoid using the

10. Set a goal according to a timeline i.e. “to do something new each week”

‘Give’ yourself a reality check WHAT 2. Are you right/wrong/doubtful? 4. Is your client right/wrong/doubtful? 6. Is your method right/wrong/doubtful? 8. Are your partners right/wrong/doubtful?

HOW REVIEW and DISCUSS with yourself, immediate superior, MC, Innovations Team, Client, the person/group in question.

Delivering Results • The key performance indicators will provide a metric for individual assessment • In unison, when innovation performance metrics are aligned – Major milestones can be identified and implemented – Team & Department business objectives can be addressed & achieved

Grading • Innovations Team is still ‘developing’ in size • For the time being, – Three grades are implied • With all the five mentioned indicators

– According to managerial level, the acceptable levels are • Director: 90%-100% • Manager: 80%-90% • Sr. Executive: 70%-80%

Now let’s talk about how to go from good to great!

Thank you!