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INNOVATION THAT FITS Moving Beyond the Fads to Choose the RIGHT Innovation Strategy for Your Business

Book Description

Innovation is more urgently necessary than it's ever been. Now, three leading experts on commercializing innovation systematically sort through the wreckage of yesterday's strategies, learning lessons and identifying ideas worth preserving and adapting. To prepare this book, the authors thoroughly examined the record of more than 250 innovation programs from organizations of widely differing sizes and industries, from 1998 through 2003. Based on this unprecedented research, they reveal the right time to use each innovation 'arrow', how to account for contingencies and risks; and how to focus on core innovation challenges -- not just superficial symptoms. Along the way, the authors define a focused, integrated model for innovation: one that is more nuanced and complex, but also better-grounded, more durable, and far more effective.

Table of Contents

  1. Copyright
    1. Dedication
  2. Acknowledgments
  3. About the Authors
  4. 1. Making Sense of Innovation Fads and Fashions
    1. Innovation Excitement, Then Disillusionment
      1. The World's Most Innovative Company
      2. Not-So-Disruptive Technologies
      3. Incubating Half-Baked Ideas
    2. Reconsidering Innovations in Innovation
      1. The Rise of the Innovation Industry
      2. Innovations in Innovation
    3. Bringing Silicon Valley Inside
    4. Spinnovation
    5. Virtual Reality: Patenting, IP, and “Asset-Lite”
    6. Shared Creation
    7. If You Can't Build It, Buy It
    8. Mixed Results: What Exactly Is It?
    9. The Allure of Innovations in Innovation
      1. Mixing and Matching Tools and Tactics
    10. Background and Overview
  5. 2. Corporate Venturing: Best of Both Worlds or Venturing Too Far?
    1. Breaking the Old Molds
      1. Don't Just Act Like One: Be a Venture Capitalist
      2. The Ups and Downs of Corporate Venturing
    2. The Disappointing Record of Corporate Ventures
      1. Reconsidering Corporate Venturing Success
      2. Complex Lessons from Venturing Exemplars
      3. Inherent Venturing Problems
      4. Lucent's New Ventures
      5. Lucent's Ex-Venturing
      6. Other Ex-Venturers
    3. The Consummate Corporate Venture Capitalist
    4. Core Problems with Corporate Venturing
      1. Limitations of Venture Scale and Growth
      2. Venturing's Alignment and Integration Problem
    5. Can You Be Too Free?
    6. Diverging Approaches Toward Cars of the Future
    7. An Established Operating Company Is Not a VC Portfolio
      1. “Strategic” Corporate Venture Capital
    8. More Mature CVC Approaches
      1. Aligning Funding with Focus
      2. Do You Have to Pay to Play?
    9. The Need for Core Venturing
  6. 3. The Virtual Asset-Lite Model: Intellectual Property Licensing
    1. The Old Economy: Real Companies, Real Products
    2. Intellectual Property Rules
      1. Virtual Assets, Real Profits
      2. Ins and Outs of Licensing
    3. IBM = IPM (Intellectual Property Management)
    4. The “Knowing” and “Doing” Connection
    5. The Secret of Life (Patent Pending) Itself
      1. Complex Secrets
    6. If You're So Smart, Why Aren't You Rich?
    7. Limitations of the IP-Centric Model
    8. Size Matters: Scaling Intellectual Property
    9. IP as a Beginning, Not the End
    10. Turning Licensing Inside-Out
      1. The Core Role of In-Licensing
    11. The Ins and Outs of In-Licensing
    12. The Ambiguity of Intangibles
    13. In-Licensing: Hollowing Out the Core?
    14. Bottom Line: How Real Is the IP Revolution?
    15. The Future of Innovation as IP Licensing
  7. 4. Innovation by Alliance: Reconsidering Innovation Collaboration
    1. The Perils of Partnering
      1. Collaboration Comes in Many Forms
    2. Collaborating to Compete
      1. Global Alliance Games
      2. Complex Lessons of Innovation Alliances
    3. Consortium Dysfunctions
      1. Requiem for Iridium
      2. Risk Comes in Many Different Forms
    4. The Attraction of Open Innovation Collaboration
      1. Free and Open Software
      2. Higher Market Share = Lower Profits
      3. The Java Community
      4. Capturing Value from Open Alliances
    5. The Elusive Symbiosis of Innovation Alliances
      1. Mobile Computing Redux
    6. Joint Venturing Lessons Learned
    7. Toward More Focused Innovation Alliances
      1. Higher Stakes, More Potential Problems
    8. Pursuing Direct, Active, Engaged Partnerships
    9. Avoiding Joint Problems
  8. 5. R&D by M&A: Innovation by Acquisition
    1. Why the Acquisition Boom?
      1. Innovation by Acquisition
      2. The New Wave of R&D M&A
    2. Cisco the Serial Acquirer
    3. Changing R&D Paradigms
    4. Need for Speed, Technology, and Talent
      1. Radical Technologies and Unique Talents
    5. The Deal-Making Denouement
    6. Hangover from an R&D M&A Binge
      1. Goodwill Gone Bad
      2. Cash or Stock: Play Money?
      3. Addicted to Speed
      4. Big Bucks, Little Results?
      5. The Slippery Logic of Acquiring Talent
      6. Golden Handcuffs for Free Agents?
    7. Talented Competition: Palm Versus Handspring
    8. Buying Innovation Still Can Be a Good Deal
      1. Bargain Shopping: Balancing Risk and Reward
    9. A Durable Part of a Core Innovation Strategy
    10. Limits of Innovation by Acquisition
  9. 6. Spinnovation: Liberating Value or Spinning Out of Control?
    1. Liberating Innovation?
      1. Corporate.coms
    2. Spinning Out of Control
      1. Unraveling of the Spinouts
      2. Refocusing the Core
    3. How Not to Spin
    4. The Umbilical-Cord Spinout
    5. Navigating a Spinout
      1. Corporate Venturing and Innovation Spillovers
      2. Cigarettes and Pharmaceuticals Don't Mix
      3. Considering the Alternatives
      4. Launching a Spinout
      5. The Process of Breaking Free
      6. Partners and Investors as Validation
      7. Avoiding the Ties That Bind
      8. Bettering the Odds of Value Creation
    6. Employing Spin Control
    7. A Tale of Online Travel Agents
    8. The Right Spin
  10. 7. Conclusion: Toward a New Model for Innovation
    1. Core Complexity
      1. Lessons Learned: Rediscovering the Core
      2. Using New Tools to Power the Core
      3. Leveraging the Core: Little Things Mean a Lot
      4. Fueling the Core: Innovating Beyond the Obvious
    2. Transforming the Core: Internalizing Radical Innovation
      1. Core Innovation ≠ Internal R&D
      2. The New Model ≠ Open Market Innovation
    3. Fueling Core Innovation from Inside and Outside
    4. Importance of Portfolio and Process
      1. Innovation Redeemed and Revitalized
  11. Endnotes
    1. Chapter 1
    2. Chapter 2
    3. Chapter 3
    4. Chapter 4
    5. Chapter 5
    6. Chapter 6