In developing this model, Utterback examines industries over long periods of time to discover patterns in the way innovation is introduced, adopted, and then replaced by yet further innovation.

Create Business and Generate Profits inNew Markets through Innovation! “The best account I have read about how companies can enable and support internal entrepreneurs to achieve innovation-led growth.” Philip Kotler, S.C. Johnson & Son Professor of International Marketing, Kellogg School of Management “An essential resource for both private and public sector leaders seeking to align new business creation with an organization’s mission and strategy . . . and achieve results.” William J. Perry, former U.S. Secretary of Defense “Wolcott and Lippitz are not only insightful, they are spot on. This is exactly the book corporate leaders—from CEOs and functional executives to corporate entrepreneurial teams—need to help them navigate theexceptional challenges of organic growth and innovation.” Betsy Holden, Senior Advisor, McKinsey & Company, and former Co-CEO, Kraft Foods, Inc. About the Book: IBM reports $15 billion of annualnew revenues from 22 EmergingBusiness Opportunities. In 2008, $4 billion in revenues fromcompanywide innovation efforts allowedWhirlpool to maintain its top line, despiteglobal recession and the steep dropin housing markets. A DuPont business group leader,Ellen Kullman, backed an ambitious newbusiness creation program and laterbecame DuPont’s CEO. Each of these companies has learned how tocreate new businesses on a repeatable basis.In Grow from Within, two leading scholarsfrom the Kellogg School of Managementexplain how your company can discover theright approach to corporate entrepreneurshipand make it profitable. Taking innovation to the next level, corporateentrepreneurship is the process of buildingnew businesses within an established organization—new businesses that are distinctfrom the core company but that leveragesome of its most powerful assets.Grow from Within examines: The fundamentals of designing anew business The four dominant models ofcorporate entrepreneurship Ways to align your innovationprogram with your strategy Leadership requirements fordeveloping new businesses Innovation is critical to business successand growth, but it’s only the first step. Withoutstrategically driven processes to turninsights into growing businesses, even thebest ideas can fail. Creativity is often serendipitous;innovation management shouldnot be. Grow from Within provides the knowledgeyou need to conceive and design valuablenew businesses that breathe life into ideasand dramatically improve your top and bottomlines.

In the current fast-paced business environment, organizations face the challenge of managing internal innovation efforts while leveraging external expertise and resources. Traditional innovation management approaches may struggle to keep up with the rapid changes in technology and market dynamics. Organizations must master innovation while ensuring sustainability and adopting more inclusive and collaborative innovation practices. To address these challenges, the book Mastering Innovation in Business provides a comprehensive solution by delving deep into the principles and practices of open innovation. By examining the evolution of management and the dynamics of open innovation, this book equips readers with the knowledge and strategies needed to manage innovation effectively in a rapidly changing business landscape. It explores intellectual property management, metrics for measuring innovation, and cultural influences on innovation. It offers practical insights and actionable strategies for fostering a culture of innovation within organizations. Additionally, the book delves into the role of digital transformation in driving innovation. It guides how organizations can leverage digital technologies to enhance their innovation efforts.

This book is an essential guide or foundational toolkit for anyone who is involved in the process of developing, offering or selling any type of product or service. Based on how to surf on the waves of innovation and the principle of “form follows function” (System Architecture), it introduces and connects concepts like Market Understanding, Design Thinking, Design to Value, Modularization and Agility. It introduces readers to the essence of these main frameworks and provides a toolkit that explains both theoretically and practically when and how to utilize which one. The methods and processes described in this book have all been successfully tested in many industries. They apply in today’s market context of high uncertainty, complexity and turbulence, where innovation and disruption are essential. Readers will find answers to two fundamental questions: How can we implement an innovation process and environment that are conducive to successful product design? And, if our products fail to appeal to customers, how can we achieve a major turn-around with regard to product development? A wealth of examples and case studies help readers to benefit from the authors’ broad professional experience. Further, lessons learned and conceptual summaries provide valuable shortcuts to the methods and tools discussed. For today’s CEOs, enabling innovation is one of THE most complex leadership tasks. But innovation is not about theory and nice buzzwords. It’s about succeeding in the real world. This ‘hands-on’ book connects the dots and introduces the reader to some of the most relevant ideas and pragmatic concepts fitting today’s business reality. Dr. Robert Neuhauser, Executive VP and Global Head People and Leadership Development, Siemens At the most fundamental level this book brings order to chaos. It sets different and highly relevant design approaches into a complementary picture, rather than presenting them as competing ways of solving the same problem. Product designers, managers, consultants, scholars and students will surely have this valuable book within reach on a daily basis. Olivier L. de Weck, Ph.D – MIT Professor of Aeronautics and Astronautics and Engineering Systems, Editor-in-Chief Systems Engineering

One million. That's how many new ideas the Toyota organization receives from its employees every year. These ideas come from every level of the organization - from the factory floors to the corporate suites. And organizations all over the world want to learn how they do it. Now Matthew May, Senior Advisor to the University of Toyota, reveals how any company can create an environment of every day innovation and achieve the elegant solutions found only on the far side of complexity. A tactical guide for team-based innovation, THE ELEGANT SOLUTION delivers the formula to the three principles and ten practices that drive business creativity. Innovation isn't just about technology - it's about value, opportunity and impact. When a company embeds a real discipline around the pursuit of perfection, the sky is the limit. Dozens of case studies (from Toyota and other companies) illustrate the power and universality of these concepts; a unique 'clamshell strategy' prepares managers to ensure organizational success. At once a thought-shaper, a playmaker, and a taskmaster, THE ELEGANT SOLUTION is a practical field manual for everyone in corporate life.

Is there any doubt in your mind about the importance of innovation? Do you feel that innovation is vital to the future of your company? Then perhaps you've already discovered that the process of innovation is difficult to manage. It's risky, expensive, and unpredictable. Further, some leaders look at the innovations that come from companies like Apple or P&G, and think, "We don't have people or resources like theirs. We can't do that kind of magic." But the truth is that Apple's success, or P&G's, or Toyota's, isn't due to magic; it's because they follow a disciplined innovation process. So the best way for your firm to become an innovator is to adopt a systematic approach applies the best tools, and also goes beyond tools to help you manage the large scale risks and opportunities that your organization faces. This system elevates innovation to what it really should be, a strategic asset to your organization. Defining that system is the intent behind The Innovation Master Plan.