Synopses & Reviews
Innovation is central to the success of technology companies. The CEOs of these companies must make a priority of ensuring that technical know how is effectively converted into value. The paradox is that they rarely do. Resolving the Innovation Paradox shows how to put innovation for longer-term growth at the centre of the CEO radar. One tool is distributed innovation. Distributed innovation offers companies two main benefits. First, companies raise revenue by using channels such as licensing and selling innovation projects. Second, companies tap into external technical know-how, combining it seamlessly with their internal capabilities to develop 'high impact' products and services. Unconstrained by internal resources, such firms gain in agility. Resolving the Innovation Paradox offers examples from companies such as Generics, Intel, Nokia and Samsung. The book is addressed to all readers interested in managing innovation. Visit the companion website at www.innovationparadox.com.
Synopsis
While most companies recognize the key significance and importance of innovation, this is frequently overwhelmed by short term objectives and constraints. This is the innovation paradox. The aim of this book is to describe management practices that resolve this paradox by decisively choosing the route of sound business and wealth creation, focussing in particular on the role of the CEO, redefining the firm's innovation perimeter, providing opportunities where entrepreneurial energy can be unleashed to generate innovation-led growth and motivating the main actors in the innovation process. All of these approaches demand that boards and shareholders develop a much more activist perspective in supporting longer-term ventures. Examples are taken from a number of technology and other companies, including Philips, Sony, Hitachi, British Telecom, Aventis, 3M, and Vivendi.
About the Author
GEORGES HAOUR is Professor at IMD, Lausanne, Switzerland where he teaches Technology Management and directs executive programmes for managers coming from technology companies worldwide. He also works at Generics in Cambridge, UK in the area of technology ventures and start-ups. Georges Haour acts as an advisor to companies in Europe, North America, Japan and Singapore in the area of technology ventures and Research and Development/ Innovation Management and is a member of the board of several organisations, including technology start-ups. He is the author or more than 70 publications including prize winning case studies.
Table of Contents
List of Figures * Foreword * PART 1: INNOVATION IS SURVIVAL * Innovate Evaporate * Putting Technological Innovation to Work * An Innovation Crisis * Overview of the Book * PART 2: THE CEO AS INNOVATION CHAMPION * Does the Current System Encourage Innovation-led Growth? * The Courage to Champion Innovation * Innovation in Family-Owned and Private Companies * A Swing of the Pendulum * Conclusion * PART 3: IS INNOVATION MANAGEABLE? * The Act of Creation * Uncertainty is at the Heart of Innovation * Multi-Functional Projects * The Innovation Board * Project Portfolio Management * The S-Curves * Technology Mapping * Quality Function Deployment * Innovate with a High Market Orientation * Conclusion * PART 4: LEVERAGING TECHNICAL INNOVATION THROUGH A DIVERSITY OF CHANNELS * Multiple Leveraging of Technical Innovation: The Example of Generics * Generics' Business System * Conclusion * PART 5: REDEFINING INNOVATION MANAGEMENT : THE DISTRIBUTED INNOVATION SYSTEM * Redrawing the Company Perimeter: Danone, Nokia and Samsung * PART 6: ENERGIZING THE DISTRIBUTED INNOVATION SYSTEM WITH ENTREPRENEURSHIP * Boosting Value Creation by Innovating in a Distributed Way * Inter: Innovation Inside? * Nokia * The Pharmaceutical Sector
Practising Distributed Innovation * PART 7: THE CRUCIAL HUMAN FACTOR * Be Demanding and Supportive * What management Style for Managing Technical Professionals? * First-line Managers Must Effectively Develop an Entrepreneurial Business Sense * The Richness of Diversity in a Team * PART 8: CREATING VALUE AND GROWTH THROUGH DISTRIBUTED INNOVATION * A Turnaround World * Innovation is the Key to Long-Term Growth of the Business * Resolving the Paradox through Distributed Innovation * The Way Forward * Bibliography * Index