Measurements of Innovation Strategies' Success in International FMCG Companies (by the Example of Reckitt Benckiser)

Innovations are the big trend all over industries. Big corporations and small companies must innovate for being competitive. But if companies innovate without a plan it can be just a loss of investments in these innovations. That’s why organizations pay a lot of attention for innovation strategies now. Innovation strategy is a plan how your organization is going to grow a market. In FMCG, innovations are playing the crucial role. This industry is fast changing and for being competitive companies need to innovate constantly and fast or a company will be dead. There is a reason why FMCG companies need an innovation strategy more than any other industry. For understanding the success of innovation strategy, it is necessary to measure innovations. There are many measurements and metrics which can be applied for this purpose. But it is hard to identify which metrics are right and which are necessary to use for providing the best analysis of innovation strategy’s performance. In this work, we try to identify the right measurements which help to measure success of innovation in FMCG companies.