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Strategic Management in the Innovation Economy: Strategic Approaches and Tools for Dynamic Innovation Capabilities 1st Edition
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NITIN NOHRIA, Harvard Business School:
"This is a unique book on strategy and strategizing in the innovation economy. Leaders and Executives in all organizations need to pay close attention to this book. This is the new direction for strategy in our 21st century, and Davenport, Leibold and Voelpel's book is the first available source."
HEINRICH V. PIERER, former CEO of Siemens AG:
"This book provides a new platform for strategic management approaches and tools, and I trust it will find a particular place in the field of strategic management for innovation, both in business practice and education."
JC SPENDER, Leeds University Business School:
"Based on wide ranging international inputs, the authors offer a superb strategic tool-kit. They take us beyond the Balanced Scorecard to their own Poised Scorecard, more flexible, multi-purposed and practical, and show us the potential of today's networked business eco-systems."
From the Back Cover
Innovative ruptures of traditional boundaries in value chains are requiring companies to rethink how they go to market, what they need to own, what they need to retain and innovate as core competencies, and how they innovatively deal with suppliers and customers.
The key message of the book is that the new knowledge-networked innovation economy requires a totally different strategic management mindset, approach and toolbox, and its major value-added is a new strategic management approach and toolbox for the innovation economy - poised strategy approach. Designed for both managers and advanced business students, the book provides a unique combination of new management theory, selected managerial articles by prominent scholars such as Clayton Christensen, Henry Chesbrough, Sumantra Ghoshal, Quinn Mills, and Peter Senge, and a wide array of real-world case examples including GE, Shell, IBM, HP, BRL Hardy, P&G, Southwest Airlines and McGraw-Hill, within the dynamics of industries such as airlines, energy, telecommunications, wine & beverages, and computing.
The authors illustrate powerful new strategic innovation concepts and tools, such as poised strategy for managing multiple business models, poised strategy scorecards (moving beyond the well-known balanced scorecard), the wheel of business model reinvention, and organizational rejuvenation methods.
Including the concepts of
- poised strategic management
- Organization rejuvenation based on E=MC2
- Business models as platform for strategy
- Poised scorecards, transcending balanced scorecards
- Identifying sources of innovation in business ecosystems
Paul Adler, University of Southern California: "Innovation is the key challenge for business today, and this book offers a wonderfully insight new strategic approach. Great analysis and an up-to-date selection of readings and cases."
Nitin Nohria, Richard P. Chapman Professor of Business Administration, Harvard Business School: "This is a unique book on strategy and strategizing in the innovation economy and should be given serious attention. This is the new direction for strategy, and Davenport, Leibold and Voelpel's book is the first available source."
Heinrich V. Pierer, former CEO of Siemens AG: "This book provides a new platform for strategic management approaches and tools, and I trust it will find a particular place in the field of strategic management for innovation, both in business practice and education."
JC Spender, Leeds University Business School: "Based on wide ranging international inputs, the authors offer a superb strategic took-kit. They take us beyond the Balanced Scorecard to their own poised Scorecard, more flexible, multi-purposed and practical, and show us the potential of today's networked business eco-system."
Jeffrey P. Bezos: "Capitalism has now entered its cambrian era - a period of greatest business speciation ever seen, but also an era of rapid rates of extinction of non-innovation firms. "Bill Gates: "Never before in history has innovation offered promise of so much to so many in so short a time." Peter F. Ducker "Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth." Gary Hamel: "Face it: Out there in some place an innovator is forging a bullet with your company's name on it." Geoffrey Immelt: "for GE, the new imperatives are risk-taking, sophisticated marketing, and above all, innovation. We are pushing for a revolution - managing a portfolio of businesses for increased innovation." Ryuzaburo Kaku: "in order for a company to survive forever the company must have the courage to apply the biological concepts of 'ecdysis': casting off the skin to emerge to an innovative new form." Jack Welch: "Business in the next decade will change more than in the last hundred years."
Top Customer Reviews
But what really delighted me was the original and very appropriate analogous use of Einstein's theorem of energy - E=MC?2, to show how companies can rejuvenate their innovative energies, and also how Moore's law and Metcalfe's law work in conjunction to increase innovative power of companies. Of course, these make sense only if used strategically well through a new strategy approach, termed `poised strategy' by the authors, that includes risk-factored experimentation with new business models.
The real value of the book for both managers and researchers, in my view, is the summarization, condensation and comparison of all the key dimensions of innovation, while showing you practically how to devise and implement a strategic innovation process in a holistic way (in addition to the traditional mechanistic processes). The valuable ideas of e.g. Chesbrough on open innovation, and Christensen on disruptive innovation, are elegantly covered and integrated as a platform for the book's central message.Read more ›
The book is organized into six parts each focusing on a different aspect of strategy. The value of the different parts varies but overall the first and last two sections are the most interesting and provocative.
Section I: The innovation economy and strategy discusses the evolution of strategy and the impact of innovation.
Section II: The changing nature of business and challenges to traditional strategic management is the best part of the book. Here the authors remind us what strategy is really all about - decisions and they provide new frameworks and ways of thinking about strategy.
Section III: A new strategy mindset of the innovation economy frankly was interesting but did not push the envelope as much as I would have hoped for. According to the articles in section 3, the future of strategy is about new forms of sourcing and creating value networks.
Section IV: Strategy, business models, and organizational energy are among the best in the book. Here the articles focus on the notions surrounding business models, their connection to strategy, and how they shape strategies going forward. This section talks about the notion of Poised Strategy, which I did not find as impressive as it seems like strategy options and contingency planning more than anything.Read more ›