Summary of The Business of Innovation

Managing the Corporate Imagination for Maximum Results

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The Business of Innovation book summary
Innovation might be a spontaneous spark of brilliance — or it just might be something you can manage, nurture and guide.

Rating

6 Overall

7 Applicability

8 Innovation

4 Style

Recommendation

Roger Bean and Russell Radford examine the history of innovation for ways that your organization can innovate continually. They ask why companies successfully innovate for a while and then lose steam. Their answer is a new organization-wide system that prioritizes innovation, management and strategy. This fairly academic structure - more like a proposal than a working process - encourages building systemic promotion of continual innovation by creating an environment that values, nurtures and encourages it, cascading from the executive to the managerial to the operational team level. However, toward the end of the book, the authors refer to using a Balanced Scorecard for assessing performance from a total quality perspective. That approach bypasses the inspirational, charismatic form of innovation and cuts right to the process, like an accountant or an engineer’s model of innovation. Thus, if you are process-savvy but hesitant about new ideas, getAbstract.com suggests that this might just be the innovation book for you: lots of system, not much flash.

In this summary, you will learn

  • How to use strategy to promote product, process and organizational innovations
  • How to support and manage innovation through all levels of your organization
 

Summary

The Need to Innovate
Companies must innovate to create the customer value necessary for surviving and thriving. Like any evolving organism, companies must change and adapt to shifting times. To sustain innovation, your organization must manage the creative innovation process. Otherwise...
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About the Authors

Roger Bean and Russell Radford, Ph.D., are principals in the consulting firm Bean, Radford & Associates and co-authors of Powerful Products. Radford teaches at Cardean University and both live in Michigan.


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