Innovation Zen

“Management research confirms that innovative firms – those that are able to use innovation to improve their processes or to differentiate their products and services – outperform their competitors, measured in terms of market share, profitability, growth or market capitalization. However, the management of innovation is inherently difficult and risky: most new technologies fail to be translated into products and services, and most new products and services are not commercial successes. In short, innovation can enhance competitiveness, but it requires a different set of management knowledge and skills from those of everyday business administration.”

Joe Tidd and John Bessant, Managing Innovation (Wiley Press).