Innovation ROI refers to the return on investment generated from innovation activities, measuring the financial and strategic benefits derived from new products, services, or processes. It evaluates how effectively resources are utilized in innovation efforts, aligning these initiatives with organizational goals to maximize value. Understanding Innovation ROI helps organizations assess the impact of their innovation strategies and adjust them to improve alignment with their structure and culture, as well as leverage open innovation and co-creation opportunities for enhanced outcomes.
congrats on reading the definition of Innovation ROI. now let's actually learn it.