It's that time of year to assess, plan, pivot, quit, and launch.

If it's that time of year for you to audit and assess your organizations' growth and innovation engine, here are four criteria to consider. These criteria can be used to benchmark performance, but are especially useful if outputs are flagging. They can also be used to improve systems that are already performing well.

1. Define growth and innovation systems then socialize throughout the organization

2. Declare specific outputs and performance metrics; set expectations

3. Sufficiently fund and capitalize growth efforts in accordance with performance expectations

4. Properly structure innovation teams with clear governance structures

As my colleagues say, these are table steaks. It's true. But very few organizations can check all these boxes. In fact, less then 10% of the Global 2000 (according to our research) effectively define innovation, set metrics, properly fund, and set teams and governance models in line with corporate innovation management best practices.

This baffles me.

What sets top performers apart from others is uncommon knowledge. The top 1% are the top 1% for a reason - they have better and more competitive knowledge. The reasons why innovation teams don't check these boxes varies widely but at the top of the list is a lack of commitment to innovation, corporate politics, and short term thinking.

But, if you're looking to improve or maintain above market average growth and innovation results, make sure these four components of your system are in place.