Innovation for Business Growth

Abstract

OVERVIEW:Profitable business growth that creates shareholder value is restricted by core barriers and gaps in the third generation (3G) of innovation management currently practiced by most industrial organizations. The barriers and gaps are: (1) the basic principles of current innovation management which limit its scope and strategy; (2) the current organizational capability and architecture for innovation; (3) current "best practices" which restrict innovation, including marketing and R&D, to what the customer perceives is needed. Twelve new principles and practices define a 4G management that helps overcome these limitations in current practice.