Synopsis
See coverage in: Fortune, Inc., Forbes, USA Today, The Business Journals, CFO.com, Vox, Investors' Business Daily, Bulldog Reporter. It Takes BOTH Creativity & Discipline to Generate Innovation Value! As markets grow increasingly unpredictable and value propositions need to evolve, innovation isn’t just a buzzword with a hashtag; it’s a lifeline for any business that wants to sustain its value. But business leaders face a challenge: Innovation as a concept can seem amorphous. How should we define innovation at our organization? How do we go about implementing innovation processes and channels? Can innovation value and progress be measured? In Advancing Innovation, Patrick Stroh, CMA, offers a solution that sits right at the crossroads between the dreamer and the doer. The book inspires organizations to use best practices while considering thoughtful customizations for success. Advancing Innovation also gives readers specific tools and guidance to execute, measure, and optimize for the most impact. The result is innovation governance—a Yin and Yang combination that fuses ideation and creativity with execution and discipline to drive value. Most important, as the book reveals, this framework can be measured by Stroh’s unique Innovation Value Score (IVS). IVS uses a balanced scorecard model but with a focus on innovation value. The metrics and functionality of this model hinge on and morph with an organization’s “strategy archetype” (how it goes to market with its value proposition). Those results can then be used for competitive benchmarking and goal-setting. With an engaging, first-hand narrative, Stroh’s book invites readers to discover how managing and measuring innovation opens the door to greater and sustainable organizational value.
About the Author
Patrick is president of Mercury Business Advisors providing management advisory services in business strategy, innovation and risk management and is author of Business Strategy; Plan, Execute, Win! and Advancing Innovation; Galvanizing, Enabling and Measuring for Innovation Value! Mr. Stroh serves on three boards of directors including: The Institute of Management Accountants who serve 90,000 finance professionals worldwide; Technology Village, a business incubator in Prior Lake, and Vail Place, a Minneapolis based agency supporting those with mental illness. Patrick was appointed in 2014 to serve on the COSO Advisory Board to review the update of the 2004 COSO Enterprise Risk Framework. Prior to consulting, he most recently held positions within UnitedHealth Group, including chief strategy & innovation officer, client experience officer, and president consumer health products. Patrick also writes a column entitled Innovation Elixir® for the American City Business Journals covering 43 metro markets across the U.S., is an active member of Rotary International and is a classically trained chef having studied at Le Cordon Bleu in Minneapolis.
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