Evolution of innovation management and outcome measurement: A literature review

Danilo Enrique   Torres Pimiento; Winston   Fontalvo Cerpa; Marco Antonio  Ariza Dau; Lilia Mercedes   Mendoza Vega; Emma Coromoto   Ruiz De La Rosa; Sheyla Andrea   Chavez Gutierrez

doi:10.56294/sctconf2024.1289

Authors

Danilo Enrique Torres Pimiento Universidad Libre, Facultad de Ciencias Económicas. Barranquilla, Colombia Author https://orcid.org/0000-0002-6795-6061
Winston Fontalvo Cerpa Universidad Libre, Facultad de Ciencias Económicas. Barranquilla, Colombia Author https://orcid.org/0000-0003-1264-608X
Marco Antonio Ariza Dau Universidad Libre, Facultad de Ciencias Económicas. Barranquilla, Colombia Author https://orcid.org/0000-0002-1926-2954
Lilia Mercedes Mendoza Vega Universidad Libre, Facultad de Ciencias Económicas. Barranquilla, Colombia Author https://orcid.org/0000-0001-9384-6395
Emma Coromoto Ruiz De La Rosa Universidad Libre, Facultad de Ciencias Económicas. Barranquilla, Colombia Author https://orcid.org/0009-0009-2286-2158
Sheyla Andrea Chavez Gutierrez Universidad Libre, Facultad de Ciencias Económicas. Barranquilla, Colombia Author https://orcid.org/0009-0004-6365-0040

DOI:

https://doi.org/10.56294/sctconf2024.1289

Keywords:

Innovation, indicators, measurement, management, outcomes

Abstract

The article analyzed the evolution of measurement in innovation management and outcomes, highlighting its importance in a competitive and disruptive business environment. Effective innovation management was deemed crucial for maintaining a company's relevance and competitiveness. The methodology employed was based on an exhaustive literature review, utilizing sources such as Scopus and Google Scholar. The results demonstrated the diversity of indicators used to measure innovation, ranging from outcome-focused approaches to more holistic system-based ones. Tools such as the Global Innovation Index and the European Innovation Scoreboard were highlighted for evaluating and comparing the innovative performance of countries and regions. However, the need to address challenges and contradictions in the definition and application of innovation was noted. Ultimately, it was emphasized that proper measurement of innovation is essential for driving economic growth, enhancing competitiveness, and addressing global challenges

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