12.2 How to Measure Innovation

Is this working or not?

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Before and after undertaking a process that gravitates around innovation, it is important to measure the success of the performance to verify how the new idea is implementing the status quo and solving certain challenges. This is done by measuring the value of the positive effect or ‘capital’ in all its forms.

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This 'capital' is influenced by 4 key factors:

1. Economic
2. Social
3. Cultural
4. Symbolic

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These are four different parameters that can help broadly evaluate if the DMO is moving in the right directions or if the decisions made are not having the desired impact. It is important to think about this ‘wealth’ as a whole.

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In the 4 areas of the Template, you will have to:

1. Evaluate the wealth that is generated from the implementation of an innovation. Consider different aspects and position them in the graphic;
2. Measure the level of connections and networking with the stakeholders or third parties of interest in the context of the innovation that has been adopted;
3. Is the DMO playing a revolutionary role in the travel industry or relevant sector by applying this particular innovation?
4. Is this meaningful and does it have an impact on the destination?

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This will help you position the elements in the correct point of the graphs:

• High or low impact: is this making a difference or it is going unnoticed
• Negative or positive impact: are the results and performance good or bad?

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Use the blank space on the left to note down further considerations.

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