|
What do Amazon.com, Nokia, Ritz Carlton
Hotels, and Daimler-Chrysler have in common? Or how about
Coca-Cola, Dell, and Hasbro? These companies represent a
wide range of industries and lines of business, but they
are each industry leaders in the battle for market share
and earnings. The tie that binds them is their ability to
consistently redefine their business models and processes
to create breakthroughs. That's innovation. And it leads
to growth.
In The Innovation Premium, Ron Jonash
and Tom Sommerlatte draw on years of experience and primary
research conducted with industry pioneers worldwide to demonstrate
-- for the first time ever -- a direct, measurable correlation
between a company's innovation leadership and its performance
on Wall Street. More than a change in leadership, more than
a merger or acquisition, more than a renewed commitment
to cost reduction, investors reward -- and pay a premium
for -- innovation.
The companies that are capturing the innovation
premium realize that innovation can be managed and measured.
They know that innovation is more than simply creating new
products and services. It's about improving your top and
bottom lines by capturing and exploiting all the value that
currently exists within your extended organization. It's
about creating a culture that thrives on speed and rewards
new ideas from any source.
The Innovation Premium points the
way toward a more flexible, faster-response management model,
what the authors call "Next Generation." In this
model, companies focus intensely on innovation in five key
business areas: strategy, processes, resource deployment,
organizational structures, and learning. Next-generation
companies move beyond continuous improvement, total quality,
and reengineering to recognize innovation as the key driver
of sustainable revenue growth.
Using detailed examples from some of the
world's most successful companies, such as Alcoa, Pfizer,
Canon, and Energizer, the authors show how to put next-generation
principles into practice -- creating both the organizational
and technological infrastructures to swiftly generate and
implement new ideas. Equally important, they show how to
overcome internal barriers to innovation, by making it everyone's
direct responsibility.
Managers know that in today's hypercompetitive
marketplace, innovation can mean the difference between
winning and losing. Those who find ways to sustain innovation
in all aspects of their business will have also found the
answer to sustainable growth and value creation for all
of their stakeholders -- shareholders, partners, employees,
and customers. The Innovation Premium can get you
started on the pathway to achieving that goal.
Ronald S. Jonash is Vice President of
Arthur D. Little, Inc., in Cambridge, Massachusetts, and
Global Leader of the firm's Technology and Innovation Management
Practice. He leads ADL's best practice colloquia and seminars
and consults to executives and senior management at leading
companies worldwide.
Tom Sommerlatte is Chairman of Management
Consulting Worldwide and Vice President of Arthur D. Little,
In., in Wiesbaden, Germany. An authority in the area of
strategy and innovation management, he has over 25 years
of top-management consulting experience and launched the
European Executive Council.
|
