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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.
About the Authors.
1. Making Sense of Innovation Fads and Fashions.
Innovation Excitement, Then Disillusionment
Reconsidering Innovations in Innovation
Bringing Silicon Valley Inside
Virtual Reality: Patenting, IP, and “Asset-Lite”
If You Can’t Build It, Buy It
Mixed Results: What Exactly Is It?
The Allure of Innovations in Innovation
Background and Overview
2. Corporate Venturing: Best of Both Worlds or Venturing Too Far?
Breaking the Old Molds
The Disappointing Record of Corporate Ventures
The Consummate Corporate Venture Capitalist
Core Problems with Corporate Venturing
Can You Be Too Free?
Diverging Approaches Toward Cars of the Future
An Established Operating Company Is Not a VC Portfolio
More Mature CVC Approaches
The Need for Core Venturing
3. The Virtual Asset-Lite Model: Intellectual Property Licensing.
The Old Economy: Real Companies, Real Products
Intellectual Property Rules
IBM = IPM (Intellectual Property Management)
The “Knowing” and “Doing” Connection
The Secret of Life (Patent Pending) Itself
If You’re So Smart, Why Aren’t You Rich?
Limitations of the IP-Centric Model
Size Matters: Scaling Intellectual Property
IP as a Beginning, Not the End
Turning Licensing Inside-Out
The Ins and Outs of In-Licensing
The Ambiguity of Intangibles
In-Licensing: Hollowing Out the Core?
Bottom Line: How Real Is the IP Revolution?
The Future of Innovation as IP Licensing
4. Innovation by Alliance: Reconsidering Innovation Collaboration.
The Perils of Partnering
Collaborating to Compete
The Attraction of Open Innovation Collaboration
The Elusive Symbiosis of Innovation Alliances
Joint Venturing Lessons Learned
Toward More Focused Innovation Alliances
Pursuing Direct, Active, Engaged Partnerships
Avoiding Joint Problems
5. R&D by M&A: Innovation by Acquisition.
Why the Acquisition Boom?
Cisco the Serial Acquirer
Changing R&D Paradigms
Need for Speed, Technology, and Talent
The Deal-Making Denouement
Hangover from an R&D M&A Binge
Talented Competition: Palm Versus Handspring
Buying Innovation Still Can Be a Good Deal
A Durable Part of a Core Innovation Strategy
Limits of Innovation by Acquisition
6. Spinnovation: Liberating Value or Spinning Out of Control?
Spinning Out of Control
Spin.com: How Not to Spin
The Umbilical-Cord Spinout
Navigating a Spinout
Employing Spin Control
A Tale of Online Travel Agents
The Right Spin
7. Conclusion: Toward a New Model for Innovation.
Transforming the Core: Internalizing Radical Innovation
Fueling Core Innovation from Inside and Outside
Importance of Portfolio and Process