MAKING INNOVATION WORK: HOW TO MANAGE IT, MEASURE IT, AND PROFIT FROM IT

"This is the thing I wish I had done thirty years ago. MAKING INNOVATION WORK is an important resource for leaders who are trying to improve innovation in their organizations. It's crammed with examples and practical ideas that can trigger improvements in innovation, starting tomorrow!"—Lew Platt, Chairman of Boeing, former Chairman and CEO of HP, and former CEO of Kendall-Jackson Wine Estates Innovate or die? that's the imperative to grow your top and bottom lines. Unfortunately, there are no secret formulas for innovation; it is about good management. MAKING INNOVATION WORK: HOW TO MANAGE IT, MEASURE IT, AND PROFIT FROM IT (provide a unique framework that allows management to harness the power of both business model innovation and technology innovation. By combining these two types of innovation, the authors show how to create a dominant competitive advantage and outstanding profitability. It shows how innovation, like many business functions, is a management process that requires specific tools, rules and discipline—it is not mysterious. Furthermore, it describes how to use these standard management tools (such as strategy, organizational design and structure, management systems, performance evaluation, people, and rewards) to dramatically increase the payoffs from innovation investments. Execution is simple once it is clear how the pieces fit together. Remember the saying, "You can't manage what you can't measure"? That certainly holds true for innovation, but many managers have only paid lip service to this crucial aspect. MAKING INNOVATION WORK offers metrics and incentives that can be used by companies of all sizes, complexities, and in all types of industry. Then it shows how to use metrics and incentives to manage every facet of innovation from creating the ideas, through selecting and forming the prototype innovations, and all the way through to commercialization. MAKING INNOVATION WORK also illustrates how companies can use innovation to redefine an industry. It use many cutting-edge examples including the way Apple Computer introduced the iPod (a technology change) and iTunes (a business model change) and revolutionized the music business. It also show why most companies are significantly better at one or the other, but few have a truly integrated capability for both significant business model and technology innovation.