Since the advent of the inventive compensation plan, boards and senior management teams have struggled to identify an ideal measure of innovation. With surges in market disruption, and investors increasingly focusing on resilience and sustainability measures, companies are pursuing innovation more aggressively. In doing so, they seek to evolve business models to be compatible with their ESG vision and agenda and also to gain a competitive edge.
Experience suggests the reason no universal “silver bullet” measures for innovation exist is because innovation is not monolithic or homogenous. That is, it means something different to each company strategically, culturally and operationally.
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