Innovation drives economic growth. The key to reigniting the American economy is reigniting innovation. Innovation can be fostered, nurtured, encouraged and sustained by our companies and organizations. Management can create organizations that thrive on innovation or organizations that kill new ideas. Financial managers can help develop and maintain management practices that nurture innovation, or finance can insure the maintenance of the status quo. Innovation can thrive in “skunk-works,” but it is also fostered through systems that measure, report and manage innovation. Financial managers need to measure innovation metrics and report on innovation efforts. Innovation is not solely the purview of marketing, sales, service or production. Truly innovative finance professionals use technology and other simple techniques to provide new, more meaningful and actionable information to all employees.
Course ID: FAI
Finance and Innovation: Reinvent Your Department and Company
- Stimulate thinking about how to improve business processes, including those in accounting.
- Creating an environment where innovation can thrive.
- Measuring innovation
- Managing innovation
- Why simple techniques can provide more meaningful and actionable information.