Growth Team
The
radical-innovation function is often managed or
co-managed by
Head of Growth
who designs and implements
Growth 10+ strategies and is assisted by a
growth team.
Financial Objectives
Financial objectives
of an innovation function are optional.
Some innovation
functions exist to turn a
profit, some functions have no financial targets
at all.
Survey Results
According to a
McKinsey Global Survey results, new-business
development functions,
emerging-business-opportunities groups, and
emerging-technologies groups are usually guided by
profit, while innovation incubators, innovation
centers, and advanced-technologies institutes tend
to have no financial targets. Innovation functions
with profit targets are likelier to carry their
innovations through market launch and scaling. Those
without profit targets have less responsibility
across the innovation value chain and tend to focus
on idea generation through proof of concept or
prototype.
Innovation-specific
performance
metrics is also optional. while over 30% report
the use of innovation-specific metrics.
