Traversing the Valley of Death – Managing Innovation

A COMPREHENSIVE SYSTEM FOR MANAGING INNOVATION

“Dedicated to the leaders who toil to innovate,
often without thanks or recognition.”

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WHY IS THIS BOOK RIGHT FOR YOU

Senior Management (CEO, COO, CFO, CTO, CMO, etc.)

Brings to the forefront proven, time tested systematic big innovation processes
Provides a guide for how big change can happen in your organization
Provides the insight for establishing a consistent culture across the organization rather than a “Culture by Business Function” mentality
Provides the tools and roadmap so you can take charge of successful transformation

Business Unit or Division Leaders (BU, GM, R&D, Strategy, etc.)

Provides an understanding of how you can grow your piece of the pie through unique innovation processes
Learn how to embed and manage innovation best practices in your business unit
A guide for how you can help your organization identify innovation opportunities
Gives your teams the structures, processes, tools and metrics that will put them on the path to innovation

Project Managers, Product Managers, Marketing Manager, etc.

Learn the secrets to empower innovation, a complex process for any organization
Learn the in’s and out’s of innovation management and why it’s never a straight line
Gain an understanding of the political minefields with innovation process
Recognize growth-spawning projects and get the tools for success so you don’t fall into the “valley of death”

The Book

System for Industrial Innovation

The book provides an entire system for managing innovation. Its purpose is threefold: (1) to guide organizations to quickly develop ideas into legitimate, profitable business opportunities; (2) to capture these opportunities in a compelling case for securing the necessary resources; and (3) to plan for the adoption of the innovation and to establish the necessary governance system required to systematically do breakthrough innovation and measure the performance of that innovation in the marketplace. In other words, the System lays out an entire business system and strategy for actually doing breakthrough innovation.

Figure 3-1. Six subsystems comprise the CIMS systems for industrial innovation.

The six subsystems are organized in three modules (Fig. 3-1) constituting the principal steps in the overall process of breakthrough innovation. The System for Industrial Innovation is introduced in Chapter 3 and then described in detail in Chapters 4, 5 and 6. In addition to providing a holistic approach to breakthrough innovation, these chapters provide users with a complete toolbox of innovation decision tools.

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ABOUT THE AUTHORS

Dr. Stephen K. Markham

Professor of Management, Innovation and Entrepreneurship

Dr. Steve Markham is a leading academic researcher and author on innovation champions, technology commercialization and the front end of innovation. He is a professor of Management, Innovation and Entrepreneurship at NC State University. His research focuses on the systems of processes high-tech companies use to foster and manage innovation. Markham consults with countless Fortune 100 companies on how to set up systems to effectively manage innovation processes and product development. He has participated in starting more than 20 high-tech firms as founding board member as CEO, CFO, COO, and VP of Product Development and led numerous rounds of venture funding.

Mr. Paul C. Mugge

Professor of Innovation and Executive Director of CIMS

Mr. Paul Mugge is an Innovation Professor and Executive Director for Center of Innovation Management Studies at NC State University. He spent more than 35 years developing products and services for IBM. His past experience working in the product development field taught him that the way products are developed is more than “Good Engineering.” Innovation is the result of informed, cross-disciplinary teams working toward a common purpose and supported with world class processes and tools. Mugge spearheaded the task force that created the ThinkPad personal computer in 1992. He received the IBM Chairman’s Award from Lou V. Gerstner for the re-engineering of its hardware and software business.

Foreword

Robert B. Tucker

Founder and President, The Innovation Resource, and best-selling author of seven books on innovation

The book you hold in your hands takes up a big issue: Why do mature companies so often screw things up when it comes to driving growth through innovation? Why do these companies – full of bright engineers, creative marketers, seasoned managers, and lavishly-paid senior executives – get it wrong so often? Is this the inevitable because innovation is so inherently difficult? Or is it the way we approach innovation that is woefully in need of transformation?

The authors of this book believe it is the latter. They offer, in these pages, a tested, proven , and comprehensive new approach that is sure to become the new hallmark of the Innovation Movement. Read More

“At Bell and Howell we are institutionalizing the innovation management culture espoused by Steve and Paul to drive our future. ”

Ramesh Ratan / CEO, Bell and Howell
“…improved, sustainable practices that will improve any organization’s effectiveness in extending and revitalizing their product portfolios ”

Thomas P. Hustad / Professor Emeritus of Marketing, Kelly School of Business, Indiana University, and former President and longtime Board Member of the Product Development & Management Association
“The wisdom and methodology in this book is a veritable survival guide to “traverse this Valley of Death” and come out the other side!”

Martha J. Collins / R&D Director, Air Products and Chemical
“This book provides essential insight for those business leaders that want to change innovation from a chance event to predictable driver of corporate success and renewal.”

Juan Torres / SVP, Global Quality, Biogen Idec
“...It has become key in our drive to establish a robust culture of innovation at Kelly.”

Rolf Kleiner / Chief Innovation Officer, Kelly Services