Ten Rules for Strategic Innovators: From Idea to Execution - Hardcover

Govindarajan, Vijay; Trimble, Chris

Hardcover

ISBN 10: 1591397588 ISBN 13: 9781591397588

Publisher: Harvard Business Review Press, 2005

Synopsis

Even world-class companies, with powerful and proven business models, eventually discover limits to growth. That's what makes emerging high-growth industries so attractive. With no proven formula for making a profit, these industries represent huge opportunities for the companies that are fast enough and smart enough to capture them first. But building tomorrow's businesses while simultaneously sustaining excellence in today's demands a delicate balance. It is a mandatory quest, but one that is fraught with contradiction and paradox. Until now, there has been little practical guidance. Based on an in-depth, multiyear research study of innovative initiatives at ten large corporations, Vijay Govindarajan and Chris Trimble identify three central challenges: forgetting yesterday's successful processes and practices; borrowing selected resources from the core business; and learning how the new business can succeed.The authors make recommendations regarding staffing, leadership roles, reporting relationships, process design, planning, performance assessment, incentives, cultural norms, and much more. Breakthrough growth opportunities can make or break companies and careers. "Forget, Borrow, Learn" is every leader's guide to execution in unexplored territory.

About this title

From the Back Cover

In such a slowly growing world, strategic innovation is critical to success. Govindarajan and Trimble offer concrete rules that managers can use to drive growth. Their emphasis on "theory focused planning" is a good fit with high-performance company culture. This book is a great addition to your toolkit. —Jeffrey R. Immelt, CEO, General Electric Company

The slow-growth global economy creates opportunities for those who dare to innovate and experiment with new strategy concepts. Govindarajan and Trimble suggest a compelling approach for how to execute these concepts, backed by real-life examples. —Ram Charan, coauthor, Execution and Confronting Reality

This book provides specific examples of the themes of forgetting, borrowing, and learning, highlighting them as key to innovation. Many companies get lost in the middle of the innovation process, but these authors show how to turn breakthrough ideas into breakthrough growth. —John B. Menzer, President and CEO, Wal-Mart International

Ten Rules for Strategic Innovators makes a compelling case: In today’s complex marketplace, the survival of the fittest is determined by a company’s aggressive pursuit of growth—that is, creating, leveraging, managing, and sustaining it. Govindarajan and Trimble’s analysis shows just how vulnerable established companies are, and how they can avoid failure by unlocking themselves from a narrow and nostalgic business model. —Robert L. Nardelli, Chairman, President & CEO, The Home Depot, Inc.

Strategic innovation is the major source of economic value creation for investors and for our society. Yet mature corporations often fail at this very important activity—not because of the lack of ideas but because of the lack of execution skills. Ten Rules for Strategic Innovators is a wonderful primer on how to execute and is a must-read for any senior executive interested in how to successfully grow and innovate. —Glenn A. Britt, Chairman and CEO, Time Warner Cable, Inc.

Govindarajan and Trimble have produced an enormously important book! The challenges of building growth businesses inside existing organizations are well known; the solutions are not. In Ten Rules for Strategic Innovators the authors have combined solid theory, relevant case examples, and simple wisdom. . . . The notions of forgetting, borrowing, and learning will likely become major bases of logic in our organization. —Leonard A. Schlesinger, Vice Chairman and Chief Operating Officer, Limited Brands, Inc.

About the Author

Vijay Govindarajan is the Earl C Daum 1924 Professor of International Business and the Founding Director of the William F. Achtmeyer Center for Global Leadership at the Tuck School of Business at Dartmouth College. He is a well-known strategy expert and was rated among the Top Five Executive Coaches on Strategy in the October 2003 issue of Forbes magazine. Chris Trimble is on the Faculty at the Tuck School of Business with expertise in strategic innovation and is the Executive Director of the William F. Achtmeyer Center for Global Leadership.

About this edition

• Publisher: Harvard Business Review Press
• Publication date: 2005
• ISBN 10: 1591397588
• ISBN 13: 9781591397588
• Binding: Hardcover
• Number of pages: 256