Making Innovation Work How to Manage It, Measure It, and Profit from It, Updated Edition

ISBN-10: 0133092585

ISBN-13: 9780133092585

Edition: 2013 (Revised)

Authors: Tony Davila, Marc J. Epstein, Robert Shelton

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Profitable innovation doesn’t just happen. It must be managed, measured, and properly executed, and few companies know how to accomplish this effectively.Making Innovation Workpresents a formal innovation process proven to work at HP, Microsoft and Toyota, to help ordinary managers drive top and bottom line growth from innovation. The authors have drawn on their unsurpassed innovation consulting experience -- as well as the most thorough review of innovation research ever performed. They'll show what works, what doesn't, and how to use management tools to dramatically increase the payoff from innovation investments. Learn how to define the right strategy for effective innovation; how to structure an organization to innovate best; how to implement management systems to assess ongoing innovation; how to incentivize teams to deliver, and much more. This book offers the first authoritative guide to using metrics at every step of the innovation process -- from idea creation and selection through prototyping and commercialization. This updated edition refreshes the examples used throughout the book and features a new introduction that gives currency to the principles covered throughout.
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Book details

List price: $35.99
Copyright year: 2013
Publisher: Pearson Education, Limited
Publication date: 11/9/2012
Binding: Hardcover
Pages: 368
Size: 6.50" wide x 10.00" long x 1.50" tall
Weight: 1.628
Language: English

Tony Davila heads the Entrepreneurship Department and the Entrepreneurship and Innovation Center at IESE Business School in Barcelona. He was previously on the faculty of the Graduate School of Business at Stanford University and a visiting professor at the Harvard Business School. He has a doctorate from Harvard Business School.

Introduction to Updated Edition
Driving Success: How You Innovate Determines What You Innovate
Innovation Is the Power to Redefine the Industry
The Innovation Imperative: Driving Long-Term Growth in Top and Bottom lines
How to Make Innovation Work: How You Innovate Determines What You Innovate
The Rules of Innovation
Exert Strong Leadership on Innovation Direction and Decisions
Integrate Innovation into the Business Mentality
Match Innovation to Company Strategy
Manage the Natural Tension Between Creativity and Value Capture
Neutralize Organizational Antibodies
Cultivate an Innovation Network Beyond the Organization
Create the Right Metrics and Rewards for Innovation
Summary: The Innovation Company
Mapping Innovation: What Is Innovation and How Do You Leverage It?
A New Model of Strategic Innovation
Business Model Change
Value Proposition
Supply Chain
Target Customer
Technology Change
Product and Service Offerings
Process Technologies
Enabling Technologies
Three Types of Innovation
Incremental Innovation
Semiradical Innovation
Radical Innovation
Ersatz Radical Innovation
Disruptive Technologies
Innovation Model and the Innovation Rules
Choosing Your Destiny: How to Design a Winning Innovation Strategy
Choosing the Right Strategy
Play to Win and Play Not to Lose Strategies
Play to Win Strategy
Play Not to Lose Strategy
Too Much of a Good Thing
Clearly Defined Innovation Strategy Drives Change
Do You Select an Innovation Strategy?
Internal Factors
External Factors
Risk Management and Innovation Strategy
Innovation Strategy: The Case of the Pharmaceutical Industry
Attempts to Solve the Innovation Problem
Changing the Innovation Approach
Strategy and the Innovation Rules
Organizing for Innovation: How to Structure a Company for Innovation
Organizing for Innovation
Developing an Internal Marketplace for Innovation
Balancing Creativity and Value Creation
The Balance Changes as the Organization Matures
Five Steps to Balancing Creative and Commercial Markets
Outsourcing Innovation
Making Good Use of Your Partners
Integrating Innovation within the Organization
The Value of Networks and Innovation Platforms
The Corporate Venture Capital Model
The Ambidextrous Organization
The Leadership Role
Organization and the Innovation Rules
Management Systems: Designing the Process of Innovation
Systems and Processes Make Things Happen
The Objectives of Well-Designed Innovation Systems
Choosing and Designing Innovation Systems
Systems for Ideation: Seeing the Gaps
Structured Idea Management
Making Deals
Innovation That Fits
Management Systems Comparison
Electronic Collaboration
Management Systems and the Innovation Rules
Ruminating the Pathway: How to Measure Innovation
To Measure or Not to Measure?
What Gets Measured Gets Done
The Three Roles of a Measurement System
A Balanced Scorecard for Measuring Innovation
The Business Model for Innovation
Inputs, Processes, Outputs, and Outcomes
From the Business Model to the Measurement System
Designing and Implementing Innovation Measurement Systems
Measures for Ideation
Measuring Your Innovation Portfolio
Measuring Execution and Outcomes of Innovation
Measuring Sustainable Value Creation
The Barriers to Effective Performance Measurement
Measurement and the Innovation Rules
Rewarding Innovation: How to Design Incentives to Support Innovation
The Importance of Incentives and Rewards
Different Strokes for Different Folks
A Framework for Incentive Systems' Design
Setting Goals for Measuring Performance
Specific vs. Broad Goals
Quantitative vs. Qualitative Goals
Stretch vs. Expected Goals
Success-Driven vs. Loss-Avoidance Goals
Performance Evaluation and Incentive Contracts
Team vs. Individual Rewards
Subjective vs. Objective Evaluation
Relative Performance vs. Absolute Performance Evaluation
Incentive Contracts
Expected Level of Pay
The Shape of the Pay-Performance Relationship
Timing Incentives
Delivery of Compensation
Key Considerations in Designing Incentives Systems for Innovation
The Danger of Overuse
The Negative Effect on Intrinsic Motivation
Fear, Failure, and Fairness
Incentives and Rewards, and the Innovation Rules
Learning Innovation: How Do Organizations Become Better at Innovating?
The Importance of Learning
A Model of Learning
Learning to Act
Learning to Learn
Learning Systems for Innovation
Systems for Delivering Value
Systems for Refining the Current Model
Systems for Building Competencies
Systems for Crafting Strategy
How to Make Learning Work in Your Organization
Knowledge and Ignorance Management
The Project Roadmap
Failures As Part of the Process
Learning Histories
The Dynamic Nature of Innovation Strategy
The Technology Stage
The Performance Stage
The Market Segmentation Stage
The Efficiency Stage
The Complementarities Stage
Learning and the Innovation Rules
Cultivating Innovation: How to Design a Winning Culture
How Culture Affects Innovation
Is Innovation the New Religion?
The Danger of Success
Organizational Levers of an Innovative Culture
The Levers of an Innovative Culture
Legends and Heroes
The Physical Environment
Different Country Cultures Breed Different Innovation Cultures
People and Innovation
Recruiting to Build an Innovative Organization
Turn Your Recruitment Strategy Upside-Down!
The Role of Senior Management
Leading Innovation
The Role of the CEO
Culture and the Innovation Rules
Conclusion: Applying the Innovation Rules to Your Organization
Combining Creativity with Commercial Savvy
Smart Execution
The Role of Leadership
Leadership Must Define the Innovation Strategy and Link It to the Business Strategy
Innovation Must Be Aligned with the Company Business Strategy, Including Selection of the Innovation Strategy
Leadership Must Define Who Will Benefit from Improved Innovations
Diagnostics and Action
Stage Gate Systems
The Venture Capital Model
The Technology Innovation Model
Time-Driven Systems
Organizing Initiatives
Fine Tuning
Generating Innovation Value
Additions to Bibliography for Updated Edition
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