Making Innovation Work
By Tony Davila, Marc Epstein and Robert Shelton
Rating – 5 stars
January 20, 2006
A Fresh Look at Nothing New
There is a dire need for a fresh look at
innovation.
Contrary to popular belief, the
authors assert, much of what is held as common wisdom regarding how innovation
is managed is wrong. Tony Davila, a faculty member of Stanford's Graduate
School of Business, Marc Epstein, a research professor at Rice University's
School of Management, and Robert Shelton, managing director of Navigant
Consulting's Innovation practice write that contrary to popular belief,
innovation:
Does not
require a revolution.
Is not
alchemy
Does not
require a “creative” culture.
Is not
solely about processes and stage-gate tools.
Does not
focus exclusively on new technology.
Is not
needed in copious quantities.
The authors write that
innovation, like many business functions, is a management process that requires
tools, rules and discipline. It needs to be measured and promoted if sustained,
high yields are going to be delivered. It is a necessary ingredient to
safeguard an organization’s tangible and intangible assets. In short, it is a
vital and must be managed.
To do so, the book identifies
seven rules:
Strong
leadership encourages value creation.
Innovation
is a vital part of an organization’s mentality.
Innovation
matches the organization’s business strategy.
Creativity
and value creation are balanced.
Seek to
neutralize forces that discourage good ideas.
Networks,
not individuals, are the building blocks of innovation.
Metrics and
rewards make innovation manageable.
Execution of innovation is not
difficult, the authors conclude. It is similar to other management activities,
such as manufacturing or financial control. There are no secret formulas.
This bookreplaces the myths and half-truths with clear and concise
thinking on how to manage and execute innovation.
