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Ten Rules for Strategic Innovators: From Idea to Execution (Hardcover)
by Vijay Govindarajan , Chris Trimble
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Innovation |
| Market price: ¥ 318.00
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¥ 268.00
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| MSL Pointer Review:
In this book the authors provide an innovative and insightful approach to stepping outside the traditional boundaries of businesses, with a practical roadmap that clearly delineates the key elements. |
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Author: Vijay Govindarajan , Chris Trimble
Publisher: Harvard Business School Press
Pub. in: December, 2005
ISBN: 1591397588
Pages: 224
Measurements: 9.5 x 6.5 x 1 inches
Origin of product: USA
Order code: BA00857
Other information: ISBN-13: 978-1591397588
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- MSL Picks -
Perhaps no other topic is as important as Innovation for managers in contemporary business organizations. By most accounts, innovation remains the sole source of sustainable growth and competitive advantage in many industries. Govindarajan and Trimble address a key issue in innovation in this book: the execution of an innovative idea. And, the authors focus specifically on "strategic innovations" - innovations that are based on strategic experiments to understand and test unproven business models and that have the potential to deliver significantly high revenue growth.
The book is really based on the idea that to successfully execute such strategic innovations, organizations will need to forget (prior business assumptions), borrow (from existing strong assets), and learn (on a continuous basis to manage uncertainties). VG and Trimble show that the challenges associated with the forget-borrow-learn can only be addressed by paying careful attention to the organization's inner logic of structure, staff, culture, and systems. The authors use a number of detailed case studies to demonstrate their concepts and to derive some very insightful execution ideas.
The discussion in the various chapters leads to ten rules of execution of strategic innovation that the authors describe in the last chapter through the story of Analog Devices Inc. (ADI).
The 10 rules are :
1. A powerful strategic idea is not enough to ensure success.
2. You need to forget irrelevant lessons that led to success in the traditional business.
3. Established companies can outperform start-ups in pursuing strategic innovation by leveraging the established businesses' key resources and assets.
4. Strategic experiments face more unknowns than known quantities.
5. The organization for strategic innovation should be built from the ground up to optimize that opportunity . . . and to avoid tainted loyalty and memories of the other businesses.
6. Only senior management can manage the inevitable conflicts between the old and new businesses.
7. The strategic innovation will need planning processes designed to maximize learning.
8. Keep the politics out of letting the innovative organization learn.
9. Focus the innovation organization on learning rather than near-term results.
10. Organizations can learn relevant skills to make strategic innovations easier to pursue and more successful.
Overall, the book is well written and highly readable with lots of interesting real-world stories. And, what makes this book quite distinct from most of the other books on innovation is its focus on innovation execution - the detailed treatment of this topic provides a wealth of practical ideas to ensure successful execution of strategic innovations.
- From quoting Mitchell
Target readers:
Managers, investors, business people
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Vijay Govindarajan is the Earl C Daum 1924 Professor of International Business and the Founding Director of the William F. Achtmeyer Center for Global Leadership at the Tuck School of Business at Dartmouth College. He is a well-known strategy expert and was rated among the Top Five Executive Coaches on Strategy in the October 2003 issue of Forbes magazine. Chris Trimble is on the Faculty at the Tuck School of Business with expertise in strategic innovation and is the Executive Director of the William F. Achtmeyer Center for Global Leadership.
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From the publisher
Even world-class companies, with powerful and proven business models, eventually discover limits to growth. That's what makes emerging high-growth industries so attractive. With no proven formula for making a profit, these industries represent huge opportunities for the companies that are fast enough and smart enough to capture them first.
But building tomorrow's businesses while simultaneously sustaining excellence in today's demands a delicate balance. It is a mandatory quest, but one that is fraught with contradiction and paradox. Until now, there has been little practical guidance.
Based on an in-depth, multiyear research study of innovative initiatives at ten large corporations, Vijay Govindarajan and Chris Trimble identify three central challenges: forgetting yesterday's successful processes and practices; borrowing selected resources from the core business; and learning how the new business can succeed. The authors make recommendations regarding staffing, leadership roles, reporting relationships, process design, planning, performance assessment, incentives, cultural norms, and much more.
Breakthrough growth opportunities can make or break companies and careers. Forget, Borrow, Learn is every leader's guide to execution in unexplored territory.
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| View all 10 comments |
James (MSL quote), USA
<2007-06-19 00:00>
Govindarajan and Trimble use a nice blend of frameworks, research, and real life examples to provide a new perspective on innovation within existing organizations. Much conventional wisdom is proven to be myth - and the authors provide practical insight and advice that can be used to generate ideas get them successfully implemented. A must read for managers looking for breakthrough ideas without sacrificing their current business. |
Jane (MSL quote), USA
<2007-06-19 00:00>
The business press frequently features stories of entrepreneurs who have left large corporations to develop innovative ideas. Yet, large corporations have assets such as well-established brands, distribution channels, and customer bases that can accelerate the development of new ideas. 10 Rules for Strategic Innovators provides a roadmap for large corporations that want to foster the development of new business concepts in way that insulates them from standard corporate processes but allows them to draw on valuable corporate assets. This book is full of rich case examples and will be very helpful to any senior executive who wants to launch a new business venture within a corporate environment. |
A reader (MSL quote), USA
<2007-06-19 00:00>
I read books to be inspired and to change. I was very happy to have this book recommended to me. For every ten business books I read (and I read a lot), I finish one. Mostly because there is little new thought and little on implementation. I had no problem turning every page and learned something new from almost every chapter. A few points that I will put right into my practice (I run a consulting firm):
- The role of the strategic experiment. Basically, the corporation must accept an entirely new risk profile with strategic experiments in the new business to mimic the speed of a start-up
- New planning process. Planning processes kill innovation. Budgets rule. Put a certain percentage of the budget at risk through new planning process. Fundamentally, this also reflects a new business model.
- Learning. The outcome of the new business is the creation of tremendous insights into how to move faster in the marketplace, but not necessarily a great return. This is the role of the CEO to manage.
I recommend the book for the pragmatic business leader. |
A reader (MSL quote), USA
<2007-06-19 00:00>
As a manager building a new business within an existing company, I am running into many challenges. VG and Chris utilize real world situations to highlight these challenges, and offer practical ideas and frameworks to address them. I first read the book to get a perspective on other, similar situations, then re-read it to find ideas to apply, and now turn back to it as a continual reference.
From Forget, Borrow, Learn to the Theory Focused Planning to the 10 Lessons themselves, there is a wealth of knowledge and experience they share. Many books talk about finding the innovative idea. 10 Rules for Strategic Innovators actually helps outline how to turn the idea into a new, viable commercial business. This book is unique and a truly great read. |
View all 10 comments |
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