Archive for the ‘NET RESULT, NET REWARD’ Category

The Reward of Innovation

Sunday, September 5th, 2010

Innovation is ultimately about return on investment at the end of the New Product Development process. With the success of a new product launch, everyone benefits – from shareholders and company employees to the consumers. Innovation done well reaps market share gain, new products and new features. Essentially, everyone wins.

The last imperative of Robert’s Rules of Innovation is Net Results, Net Reward, meaning recognizing the people who contributed to the development of a new product. It’s important to reward actions with incentives for sustainable effort.
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Reward Tips

Monday, February 8th, 2010

The fruits of your team’s labor benefit all. These successes must be rewarded – and in the appropriate manner:

  • Innovation and ROI: true Innovation results in value creation for all stakeholders – in terms of financial return, increased market share and enhanced profitability; this is the ultimate goal of your sustainable Innovation program.
  • The Right Rewards: rewards and recognition systems can take many forms, from a bonus percentage based upon new product sales to peer acknowledgment and awards.
  • Recognition: Pride…a thorny problem solved…the personal satisfaction of a job well-done – these are some of the intrinsic motivators that make creative people tick.