I have just read a review and interview with Keith Goffin, co-author with Rick Mitchell of the 2nd edition of "Innovation Management," in the IET's Engineering & Technology magazine (April 2011). It's one of those reviews that let's you know you really need to buy the book, but it also meets another of my personal criteria for thes type of books - a 2nd edition is always a good sign because it means the authors have had a chance to reflect on the rush to publish that was their first book and enough people read the first edition to give the publisher confidence that the 2nd edition will be well received!
The book is based upon "The Innovation Pentathlon Framework" - the result of research that allows companies to quickly evaluate their ability to manage innovation:
- Creativity in innovation: where do the ideas for innovation come from in your company? How do we find better ways of becoming customer-focused?
- Prioritisation: Once you have lots of ideas - 'and you should have lots, not a few' - you need to select the best ones, using a variety of scoring systems, not just financial constraint.
- Implementation: the third part of the 'funnel of ideas' that addresses new product development, design and manufacture strategy, market needs.
- Innovation strategy. To be successful you need to guide the three points above by asking: Where are we going? Are we developing new markets?
- People and organisation. The fundamental building block that addresses whether a company has the right culture and the right people. What steps can be taken to reward the right people. Acceptance of failure.