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.
