Innovation for Value and Mission : An Introduction to Innovation Management and Policy (2022. XXXII, 335 S. 23 b/w and 4 col. ill., 19 b/w tbl. 240 mm)

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Innovation for Value and Mission : An Introduction to Innovation Management and Policy (2022. XXXII, 335 S. 23 b/w and 4 col. ill., 19 b/w tbl. 240 mm)

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Full Description

Innovation. No other concept is so widely celebrated, yet so secretly dreaded. The reason: innovation requires managing through uncertainty. This is hard for any organization whether private or public, small or large. This book provides a roadmap for those who want to understand and manage innovation in all its aspects. It explains both the "how" and the "why" of innovation - its economic and policy context as well as the techniques by which it can be orchestrated, along with the management systems needed to govern it. Innovation is uniquely presented through both a private-sector (value-creating) and public-sector (mission-fulfilling) lens.

Topics covered in context include modern innovation and creativity techniques such as design thinking and the Lean Startup, the organizational challenges of innovation, as well as innovation project- and portfolio management techniques. Business-model innovation and open innovation complete the picture from the manager's perspective. The private and public financing of R&D, startups, and corporate innovation are presented - contrasting the private and public worlds while explaining how they complement each other. Government innovation policy is discussed in its historical and contemporary context, and the innovation policy toolset is introduced.

Continual innovation is vital for companies and countries to prosper. Readers will learn why innovation must follow technological breakthroughs to raise productivity and economic growth, and how innovation - when done right - can benefit larger society. An explanation for unequal growth - that some companies, regions, and countries are not seeing the full productivity gains promised by modern technology - is explored in the context of technology diffusion.

No previous experience in innovation management, economics or public policy is assumed, and the book moves fast to equip the reader with practical tools and techniques. Innovation for Value and Mission is suitable for an introductory graduate level course, or as a desk reference for experienced practitioners and policymakers. Because it connects multiple topic areas and contains ample additional references, the book is also a great resource for those with expertise in one particular area of innovation who desire to branch out into other areas.

Contents

PART I. A QUICK START TO INNOVATION

Chapter 1. Introduction




The need for innovation in the private and public sectors




Definition and types of innovation




The multi-disciplinary nature of innovation




Course plan options and how to use this book

Chapter 2. Creativity and design thinking




Human creativity and the processes that expand it




Problem statements and sources of insight




Tools for insight and selecting the right model




Introduction to design thinking and lean start-up models

Chapter 3. Big ideas in innovation




Innovation thought leaders from Schumpeter to contemporary




Major schools of thought in innovation




Why innovation is so hard and where the pitfalls are




Synthesis: The 7 Secrets of Innovation Success



Part II. INNOVATION IN CONTEXT

Chapter 4. Understanding technological innovation




The Fourth Industrial Revolution




The nature of technological transformation




The Industrial Internet of Things, smart factories, and smart cities




Advanced analytics, artificial intelligence (AI), and other intelligent systems

Chapter 5. Public policy and the Fourth Industrial Revolution




The race for supremacy in AI




Policy and ethical issues in the use of AI and intelligent systems




Retraining and upskilling the workforce; industry incentives for innovation




Universal Basic Income (UBI) and other policy ideas for the Future of Work

Chapter 6. Prosperity, productivity, and national innovation systems




The changing nature of competitive advantage




The national innovation system




Lessons for advanced economies




Lessons for emerging economies





PART III. INNOVATION MANAGEMENT

Chapter 7. Managing R&D and product development




Technical and business risk management




Timelines and the need for speed - agile development and other methods




Manufacturing and quality systems




Technology strategy and roadmaps

Chapter 8. Innovation management systems




The essential elements of an innovation system




Different strategic and innovation leadership styles




Growth horizons and different types of innovation needed




Innovation stages, process management, and innovation playbook development

Chapter 9. Innovation portfolio management and decision-making




Introduction to innovation and R&D portfolio management




Managing complexity: projects, portfolios, and anticipating chaos




Ensuring portfolio alignment with strategy




Decision-making processes and their flaws - cognitive biases and distortions



PART IV. THE ECOSYSTEM OF INNOVATION

Chapter 10. Innovation in organizations




The social nature of innovation and the different roles people need to play




Dedicated innovation structures and when to use them




Innovation culture, change management, and the role of leadership




How to recognize and scale best practices in organizations

Chapter 11. Open innovation




The role of open innovation and external networks




External collaboration goals and models




Innovation competitions




Additional crowd-sourcing techniques

Chapter 12. Business model innovation




The elements of a business model




Platform innovation




Value proposition stress-testing and business prototyping




Adapting and pivoting like a startup



Chapter 13. Innovating with a purpose




The Triple Bottom Line and other socially responsible approaches




Green innovation and the role of regulation




How private companies innovate for ESG - cases and discussion




How the public sector innovates for sustainability - cases and discussion



PART V. QUICK APPLICATION GUIDES TO INNOVATION

Chapter 14. Aerospace and defense innovation




Regular development processes vs. skunk works




Requirements management, functionality, and technology choices




Introduction to systems engineering




Lifecycle management

Chapter 15. Healthcare innovation




Pharmaceuticals




Medical Devices




Healthcare providers




Healthcare payors

Chapter 16. Fintech and financial industry innovation




The fintech landscape




The battle between start-ups vs. incumbents




Cryptocurrencies and blockchains




Regulation of fintech and cryptocurrencies

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