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Managers, entrepreneurs, and venture capitalists all seek to maximize the financial returns from innovation, and profits are driven largely by the quality of the opportunities they pursue. Based on a structured and process driven approach "innovation tournaments" this book demonstrates how to systematically identify exceptional opportunities for innovation. An innovation tournament, just like its counterpart in sports, starts with a large number of candidates, with opportunities as the players. These opportunities are pitted against each other until only the exceptional survive. This book provides a principled approach for the effective management of innovation tournaments identifying a wealth of promising opportunities and then evaluating and filtering them intelligently for greatest profitability. With a set of practical tools for creating and identifying new opportunities, it guides the reader in evaluating and screening opportunities. The book demonstrates how to construct an innovation portfolio and how to align the innovation process with an organization's competitive strategy. Innovation Tournamentsemploys quirky, fresh examples ranging from movies to medical devices. The authors' tool kit is built on their extensive research, their entrepreneurial backgrounds, and their teaching and consulting work with many highly innovative organizations
The #1 New York Times bestseller that examines how people can champion new ideas—and how leaders can fight groupthink, from the author of Give and Take and co-author of Option B “Reading Originals made me feel like I was seated across from Adam Grant at a dinner party, as one of my favorite thinkers thrilled me with his insights and his wonderfully new take on the world.” —Malcolm Gladwell, author of Outliers and The Tipping Point “Originals is one of the most important and captivating books I have ever read, full of surprising and powerful ideas. It will not only change the way you see the world; it might just change the way you live your life. And it could very well inspire you to change your world.” —Sheryl Sandberg, COO of Facebook and author of Lean In With Give and Take, Adam Grant not only introduced a landmark new paradigm for success but also established himself as one of his generation’s most compelling and provocative thought leaders. In Originals he again addresses the challenge of improving the world, but now from the perspective of becoming original: choosing to champion novel ideas and values that go against the grain, battle conformity, and buck outdated traditions. How can we originate new ideas, policies, and practices without risking it all? Using surprising studies and stories spanning business, politics, sports, and entertainment, Grant explores how to recognize a good idea, speak up without getting silenced, build a coalition of allies, choose the right time to act, and manage fear and doubt; how parents and teachers can nurture originality in children; and how leaders can build cultures that welcome dissent. Learn from an entrepreneur who pitches his start-ups by highlighting the reasons not to invest, a woman at Apple who challenged Steve Jobs from three levels below, an analyst who overturned the rule of secrecy at the CIA, a billionaire financial wizard who fires employees for failing to criticize him, and a TV executive who didn’t even work in comedy but saved Seinfeld from the cutting-room floor. The payoff is a set of groundbreaking insights about rejecting conformity and improving the status quo.
A clear, practical guide to implementing Open Innovation for new product development Open Innovation: New Product Development Essentials from the PDMA is a comprehensive guide to the theory and practice of the Open Innovation method. Written by experts from the Product Development and Management Association, the book packages a collection of Open Innovation tools in a digestible and actionable format. Real-world case studies drawn from the authors' own successes and failures illustrate the concepts presented, providing accurate representation of the opportunities and challenges of Open Innovation implementation. Key tools are presented with a focus on immediate applications for business, allowing NPD professionals to easily discern where this cutting edge development method can push innovation forward. Open Innovation assumes that companies can and should use both internal and external ideas and paths to market, permeating the boundaries between firm and environment. Innovations transfer outward and inward through purchase, licensing, joint ventures, and spin-offs, allowing companies to expand beyond their own research and dramatically improve productivity through collaboration. PDMA Essentials provides practical guidance on exploiting the Open Innovation model to these ends, with clear guidance on all aspects of the new product development process. Topics include: Product platforming and idea competitions Customer immersion and interaction Collaborative product design and development Innovation networks, rewards, and incentives Many practitioners charged with innovation have only a vague understanding of the specific tools available for Open Innovation, and how they might be applied. As the marketplace shifts dramatically to keep pace with changing consumer behaviors, remaining relevant increasingly means ramping up innovation processes. PDMA Essentials provides the tools NPD practitioners need to implement a leading innovation method, and drive continued growth.
Named #1 Best Business Book of 2011, by Patriot-News-PennLive.com If you have ever flown in an airplane, used electricity from a nuclear power plant, or taken an antibiotic, you have benefited from a brilliant mistake. Each of these life-changing innovations was the result of many missteps and an occasional brilliant insight that turned a mistake into a surprising portal of discovery. In Brilliant Mistakes, Paul Schoemaker, founder and chairman of Decision Strategies International, shares critical insights on the surprising benefits of making well-chosen mistakes. Brilliant Mistakes explores why minimizing mistakes may be the greatest mistake of all, situations when mistakes are most beneficial and when they should be avoided, the counter-intuitive idea that we should deliberately permit errors at times, and how to make the most of brilliant mistakes to improve business results. Brilliant Mistakes is based on solid academic research and insights from Schoemaker's work with more than 100 organizations, as well as his provocative Harvard Business Review article with Robert Gunther, "The Wisdom of Deliberate Mistakes." Schoemaker provides a practical roadmap for using mistakes to accelerate learning for your organization and yourself.
Managing Emergent Opportunities and Risks During Distributed Innovation
Author: Edward G. Anderson Jr.
Product and service innovations are the result of mutually interacting creative and coordination tasks within a system that has to balance technical decisions, marketplace taste, personnel management, and stakeholder commitment. The constituent elements of such systems are often scattered across multiple firms and across the globe and constitute a complex system consisting of many interacting parts. In the spirit of the "butterfly effect", metaphorically describing the sensitivity to initials conditions of chaotic systems, this book builds an argument that "innovation butterflies" can, in the short term, take up significant amounts of effort and sap efficiencies within individual innovation projects. Such "innovation butterflies" can be prompted by external forces such as government legislation or unexpected spikes in the price of basic goods (such as oil), unexpected shifts in market tastes, or from a company manager’s decisions or those of its competitors. Even the smallest change, the smallest disruption, to this system can steer a firm down an unpredictable and irreversibly different path in terms of technology and market evolution. In the long term, they can shift the balance of the entire innovation portfolio into unplanned directions. More importantly, we describe how innovation leaders can influence the emergent behavior of the system for good or ill. The first half of the book draws parallels from physics, economics, and sociology as well as evidence from multiple industries to describe the structural and behavioral causes of emergent phenomena in innovation settings as well as their often negative impacts. In the second half of the book, we turn to distributed management of innovation under emergence. We show that innovation butterflies, if improperly managed, most often lead to negative outcomes. On the other hand, it is also argued that while the complexity of the innovation system and the desire to experiment and try new and emergent alternatives precludes precise planning, innovation leaders can actually tame innovation butterflies through the design and implementation of appropriate processes, strategies, tools and leadership choices.