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Payback: Reaping the Rewards of Innovation By James P. Andrew & Howard L. Sirkin Description:
This book is available from Amazon.com and Harvard Business Online |
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Payback: Reaping the Rewards of Innovation By James P. Andrew & Howard L. Sirkin Description:
This book is available from Amazon.com and Harvard Business Online |
If you're like most people,
you bet your career and company on innovation--because you must. Payback:
Reaping the Rewards of Innovation offers you a new way to think about and
manage innovation that will dramatically improve the odds of success.
Authors James P. Andrew and Harold L. Sirkin, senior partners at The Boston
Consulting Group, describe an approach to managing innovation based on the
concept of a cash curve--which tracks investment against time. They ask the
questions you need to ask: How much should you invest in a new product or
service? How fast should you push it to market? How quickly can you get to
optimal value? How much additional investment should you pour into
sustaining and building the product or service? Payback offers you practical
and economically sound advice on when to pursue cash flow indirectly by
first pursuing other benefits, such as brand and knowledge. It also shows
you how to reshape the cash curve by using different business
models--integrator, orchestrator, and licenser--each of which balances risk
and reward differently. The authors then present a short list of decisions
and activities that you must make--not delegate--to achieve a high return on
innovation. You won't find facile answers in Payback. Instead, you will find
valuable insights and practical guidance for mastering one of the most
challenging and critical business activities: innovation.