Why Innovation Matters Even More Today - Transforming Your STEM Career Through Leadership and Innovation - page 23

TABLE 2.1 Matrix for Assessing Personal Innovation

Description Example

Resources (R) Degree of resources

or time committed

50 percent (limited time and
insufficient resources) and
50 percent (limited time and
insufficient resources)

Knowledge (K) Extent (%) of knowledge

based on research
and experience

75 percent (significant
knowledge and experience
gained, some latest work
is to be explored)

Play (P) Percentage (%) of possible

combinations of various
variables explored

40 percent (percentage of
combination of variables
explored mentally, experimen-
tally or through simulation -
work is in progress)

Imagination (I) Dimension extrapolated as

a percentage of ideal
solution for breakthrough
improvement

66 percent (selected dimen-
sion is extrapolated such that
improvement is expected to
be about 30 percent, which is
about 66 percent of the break-
through improvement)

Innovation
value (Iv)

Estimated innovation level 0.182 (Long way to find an

innovative solution due to lack
of effort and play - to acceler-
ate, one needs to improve all
elements of innovation)

Comments Initial estimation of the

proposed model - further
work is required

Innovation value = 0.5 *
((0.75 + 0.4 + 0.66) / 3) 2 = 0.182
Einstein

Source: Gupta P. “Assess Personal Innovation Levels.” RealInnovation.com .

Personal Innovation
Applying innovation principles can be effective in both the professional and
personal environment. Personal innovation is a technique that has been used
by many individuals to create opportunities for growth or change in areas of
one's career or personal life. This is often found in the entertainment industry
where we see individuals such as Madonna, Queen Latifah, and others “recre-
ate” themselves. In the most simple terms, what they've actually done is iden-
tified opportunities which they then tailored their abilities and skills to meet.
They are then able to put massive marketing efforts behind the convergence of
these opportunities with their newfound abilities. There is absolutely no reason