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Ten Rules for Strategic Innovators: From Idea to Execution | | |
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Product Description
Building a New Business within a Profitable Old One 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. Although they lack a proven formula for making a profit, these industries represent huge opportunities for the companies that are fast enough and smart enough. But constructing tomorrow's businesses while simultaneously sustaining excellence in today's demands a delicate balance. It is a quest 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. Ten Rules for Strategic Innovators is every leader's guide to execution in unexplored territory.
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| Customer Reviews: Read 28 more reviews...
 Working from the Inside August 20, 2007
Jonathan Hirst (Colorado Springs, CO)
We always hear about the innovators who go out to their garage and come out millionaires. But those slogging it out to innovate in old companies don't get any kudos. In fact, it is a pretty thankless process.
This book provides some key wisdom and models that will help internal innovators to design systems to get the most out of a large corporation without killing the new idea.
Just what I needed to help my job July 15, 2007
Helio Gomes da Silva Jr. (Sao Paulo, SP - Brazil)
1 out of 1 found this review helpful
I work deeply involved in innovation and its unusual needs for creating successful business, sometimes very far from the regular processes and methodologies. However, it was sometimes difficult to justify to my bosses why I took some decisions that seemed to go in opposite direction of the expected result and it is exactly what this book brought to me. Recommended.
Inside look at managing an innovative offshoot April 19, 2007
Rolf Dobelli (Luzern Switzerland)
As opposed to offering a simple guide to innovation, Vijay Govindarajan and Chris Trimble do something less common, and they do it well: They analyze the institutional structures which allow, nurture and support innovation. They explain how to open new innovation-focused divisions in your organization, how to think about learning and how to evaluate such new projects (and, perhaps more importantly, how not to evaluate them). They share case studies of established companies' successful and failed attempts to sprout innovative offshoots. The results are very level-headed. The authors are quite clear about the obstacles to institutional innovation, planning and learning in uncharted waters. We expect that this book could help you sail through.
A "must-understand" for leaders concerned with long-term prosperity July 14, 2006
Sanjiv B. Shah (New York, NY USA)
8 out of 9 found this review helpful
Many thanks to Vijay Govindarajan (VG) and Chris Trimble for this grand exposition of ideas first shared in the Spring 2005 California Management Review and the May 2005 Harvard Business Review. VG and Trimble's "Forget, Borrow, Learn" framework is the most powerful recipe for corporate reinvention that I have encountered.
As other Amazon reviewers have skillfully described the contents of this excellent book, I would like to add just two things.
First, as a graduate of the Tuck School of Business, I had the good fortune of encountering VG in the classroom. VG is a dynamic presence who commands attention. If you get a chance to experience VG in person, take it. To get a (very) small taste of what I am talking about, check out VG's video link at Tuck's website.
Second, to learn further from VG, I highly recommend VG's blog. Several of VG's posts are pure gold. For example, in VG's March 10, 2006 post, he puts forth his "three box thinking model," with box 1 being "Manage the present," box 2 being "Selectively abandon the past," and box 3 being "Create the future." The leaders of most companies spend most of their time in box 1, believing that they are working on strategy. As VG contends, though, strategy is really about boxes 2 and (especially) 3, that is, figuring out how to allocate scarce resources today to assure market leadership in 2010, 2020, and beyond. Yes, indeed.
In sum, I not only recommend this book wholeheartedly, but also urge those concerned with the long-term health of their firms to continue reckoning with the thoughts and writings of both VG and Chris Trimble.
Some Excellent New Ideas for Pursuing Organic Growth June 27, 2006
J. Groen (GURNEE, ILLINOIS USA)
1 out of 1 found this review helpful
This is an excellent book that provides some excellent new ideas for pursuing organic growth. These ideas are built around three challenges: forgetting, borrowing and learning. The ideas are developed as 10 rules which are supported by numerous examples. To read this book, I would focus on the introduction and chapter one and then go to the conclusions in chapter 10. Chapter one provides the context for the rules and chapter 10 summarizes them. From there, you can focus on the rules that are most interesting to you and your organization. The chapter that I found to be most interesting was chapter 9, Theory Focused Planning an approach to understanding the business, how it will work and to discover the business model that the organization needs to focus on to be successful. I found this to be the best chapter in the book, because the traditional concepts of annual budgeting really don't work well in the world of innovation. And, this appears to me to be fundamentally better approach.
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