View Details. Leaders already know that innovation calls for a different set of activities, skills, methods, metrics, mind-sets, and leadership approaches.
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And it is well understood that creating a new business and optimizing an already existing one are two fundamentally different management challenges. The real problem for leaders is doing both, simultaneously.
How do you meet the performance requirements of the existing business—one that is still thriving—while dramatically reinventing it? How do you envision a change in your current business model before a crisis forces you to abandon it? Innovation guru Vijay Govindarajan expands the leader's innovation tool kit with a simple and proven method for allocating the organization's energy, time, and resources—in balanced measure—across what he calls "the three boxes": Box 1: The present—Manage the core business at peak profitability; Box 2: The past—Abandon ideas, practices, and attitudes that could inhibit innovation; Box 3: The future—Convert breakthrough ideas into new products and businesses.
The three-box framework makes leading innovation easier because it gives leaders a simple vocabulary and set of tools for managing and measuring these different sets of behaviors and activities across all levels of the organization. Citation: Govindarajan, Vijay. Article Harvard Business Review July—August Engineering Reverse Innovations: Principles for Creating Successful Products for Emerging Markets Amos Winter and Vijay Govindarajan Multinationals are starting to catch on to the logic of reverse innovation, in which products are designed first for consumers in low-income countries and then adapted into disruptive offerings for developed economies.
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But only a handful of companies have managed to do it successfully until now. In this article, an MIT engineering professor and a Tuck professor of management explain why. After conducting a three-year study of reverse innovation projects, they've concluded that the main hurdle facing product developers is a mindset. Western designers, who usually create products by following time-tested methods, struggle to overcome the constraints and leverage the freedoms of emerging markets.
They tend to fall into common mental traps that prevent the development of reverse innovations: matching segments to existing products, lowering price by removing features, failing to think through all the technical requirements, neglecting stakeholders, and refusing to believe products created for low-income markets could have global appeal.
But companies can avoid these traps, the authors found, by adhering to five design principles. The success of several new products illustrates how. Manage a Disciplined Experiment: Decide how team members can quickly test their assumptions , translate results into new knowledge, and measure progress.
Give innovation leaders a tough but fair performance evaluation. Practical and provocative, this new book takes you step-by-step through the innovation execution process so your Big Ideas deliver their full promise. Companies can't survive without innovating.
The Other Side of Innovation: Solving the Execution Challenge
This book reveals how to execute an innovation initiative whether a simple project or a grand, gutsy gamble. And how do they turn those ideas into products? Hardly a week passes without someone publishing a book on the subject. Most are rubbish. But The Other Side of Innovation: Solving the Execution Challenge is rather good In their new book [the authors] address two subjects that are usually given short shrift: established companies rather than start-ups and the implementation of new ideas rather than their generation.
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Seller Inventory Harvard More information about this seller Contact this seller. Language: English. Brand new Book. But most put far more emphasis on generating Big Ideas than on executing them--turning ideas into actual breakthrough products, services, and process improvements.
The Three-Box Solution: A Strategy for Leading Innovation
That's because "ideating" is energizing and glamorous. In The Other Side of Innovation, Vijay Govindarajan and Chris Trimble reveal how to execute an innovation initiative--whether a simple project or a grand, gutsy gamble. Practical and provocative, this new book takes you step-by-step through the innovation execution process--so your Big Ideas deliver their full promise. Seller Inventory BTE Seller Inventory ZZN. Book Description Condition: New.
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