Payback: Reaping the Rewards of Innovation
Author: James P. Andrew, Harold L. Sirkin, and John Butman
Date Published: 1/09/2007
Description: If you’re like most people, you bet your career and company on innovation–because you must. Payback: Reaping the Rewards of Innovation offers you a new way to think about and manage innovation that will dramatically improve the odds of success.
Payback offers you practical and economically sound advice on when to pursue cash flow indirectly by first pursuing other benefits, such as brand and knowledge. It also shows you how to reshape the cash curve by using different business models–integrator, orchestrator, and licenser–each of which balances risk and reward differently.
The authors then present a short list of decisions and activities that you must make–not delegate–to achieve a high return on innovation. You won’t find facile answers in Payback–but you will find valuable insights and practical guidance for mastering one of the most challenging and critical business activities: innovation.