The Innovation Premium: How Next Generation Companies Are Achieving Peak Performance and Profitability

The Innovation Premium: How Next Generation Companies Are Achieving Peak Performance and Profitability

The Innovation Premium: How Next Generation Companies Are Achieving Peak Performance and Profitability

The Innovation Premium: How Next Generation Companies Are Achieving Peak Performance and Profitability

Synopsis

In today's constantly shifting marketplace, "innovation" has become the catchword of companies large and small. In The Innovation Premium, Ron Jonash and Tom Sommerlatte draw on years of research and experience to demonstrate -- for the first time -- that those companies that consistently achieve innovation leadership enjoy measurable advantages, including an average 15 percent increase in shareholder returns. Bridging the gap between the technological and organizational aspects of renovation, the authors show managers at all levels how to move beyond continuous improvement of products and processes to create the "Next Generation Enterprise", an organization that thrives on innovation and knows how to harness it to create and capture value, spark and speed growth, and achieve the highest standards of performance.

Excerpt

The term business cycle is a misnomer. As we know all too well, there is nothing cyclical or predictable about the rate of economic growth. The good times may last months or years; they may reach historic heights or plateau early. Ditto for the bad times.

Until the early twentieth century, economists did little more than describe the business cycle and wring their hands over its excesses. Then a number of intellectuals, Joseph Alois Schumpeter among them, began a search for tools that governments might use to maintain the rises and cushion the falls -- to keep the business cycle's fluctuations within bounds. They came up with the basic monetary and fiscal policies that are still wielded today, particularly when the markets, in the words of a Cole Porter lyric, get "too hot not to cool down."

A professor of economics at Harvard University until his death in 1950, Schumpeter identified and described the essential contribution that innovation makes to economic growth. As he saw it, innovation encompasses the entire process that starts with an idea and continues along through all . . .

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