Innovation for Value and Mission: An Introduction to Innovation Management and Policy

by Peet van Biljon

Overview

Innovation. No other concept is so widely celebrated, yet so secretly dreaded. The reason: innovation requires managing through uncertainty. This is hard for any organization whether private or public, small or large. This book provides a roadmap for those who want to understand and manage innovation in all its aspects. It explains both the "how" and the "why" of innovation – its economic and policy context as well as the techniques by which it can be orchestrated, along with the management systems needed to govern it. Innovation is uniquely presented through both a private-sector (value-creating) and public-sector (mission-fulfilling) lens.

Topics covered in context include modern innovation and creativity techniques such as design thinking and the Lean Startup, the organizational challenges of innovation, as well as innovation project- and portfolio management techniques. Business-model innovation and open innovation complete the picture from the manager’s perspective. The private and public financing of R&D, startups, and corporate innovation are presented – contrasting the private and public worlds while explaining how they complement each other. Government innovation policy is discussed in its historical and contemporary context, and the innovation policy toolset is introduced.

Continual innovation is vital for companies and countries to prosper. Readers will learn why innovation must follow technological breakthroughs to raise productivity and economic growth, and how innovation – when done right – can benefit larger society. An explanation for unequal growth – that some companies, regions, and countries are not seeing the full productivity gains promised by modern technology – is explored in the context of technology diffusion.

No previous experience in innovation management, economics or public policy is assumed, and the book moves fast to equip the reader with practical tools and techniques. Innovation for Value and Mission is suitable for an introductory graduate level course, or as a desk reference for experienced practitioners and policymakers. Because it connects multiple topic areas and contains ample additional references, the book is also a great resource for those with expertise in one particular area of innovation who desire to branch out into other areas.

Product Details

ISBN-13:	9783110711035
Publisher:	De Gruyter
Publication date:	09/20/2022
Pages:	367
Product dimensions:	6.69(w) x 9.45(h) x (d)
Age Range:	18 Years

About the Author

Peet van Biljon advises private- and public-sector clients on innovation management, technology strategy, organizational transformation, and Technology and Innovation Policy. He was formerly a management consultant at McKinsey & Company, where he also managed the firm's global innovation practice. He serves clients in all sectors, but has particular expertise in the high-tech, electronics, software, and advanced manufacturing industries. His current research interests include improving the effectiveness of public spending on innovation; and employing innovation to achieve system-wide sustainability transitions.

Mr. Van Biljon is the founder and CEO of BMNP Strategies LLC, an advisory company. He also serves as an adjunct professor at Georgetown University’s McCourt School of Public Policy, where he has been teaching a graduate course, "Innovation and Public Policy," since 2017.

Articles on innovation and R&D management that he coauthored have been published in MIT Sloan Management Review, Research-Technology Management, and on mckinsey.com. He frequently writes blogs and articles on innovation for magazines. His previous book, Making Money: The History and Future of Society's Most Important Technology, coauthored with Alexandra R. Lajoux, was released in 2020. Earlier, he published a book on business ethics, Profit with a Higher Purpose.

Mr. Van Biljon earned a B.Eng. (Electronic Engineering) degree from the University of Stellenbosch, and B.Com. (Accounting and Economics) and M.Com. (Economics) degrees from the University of South Africa. He is licensed as a professional engineer (P.Eng.) in Ontario, Canada; and is a long-standing member of the Institute of Electrical and Electronics Engineers (IEEE).

Table of Contents

PART I. A QUICK START TO INNOVATION

Chapter 1. Introduction

• The need for innovation in the private and public sectors
• Definition and types of innovation
• The multi-disciplinary nature of innovation
• Course plan options and how to use this book

Chapter 2. Creativity and design thinking

• Human creativity and the processes that expand it
• Problem statements and sources of insight
• Tools for insight and selecting the right model
• Introduction to design thinking and lean start-up models

Chapter 3. Big ideas in innovation

• Innovation thought leaders from Schumpeter to contemporary
• Major schools of thought in innovation
• Why innovation is so hard and where the pitfalls are
• Synthesis: The 7 Secrets of Innovation Success

Part II. INNOVATION IN CONTEXT

Chapter 4. Understanding technological innovation

• The Fourth Industrial Revolution
• The nature of technological transformation
• The Industrial Internet of Things, smart factories, and smart cities
• Advanced analytics, artificial intelligence (AI), and other intelligent systems

Chapter 5. Public policy and the Fourth Industrial Revolution

• The race for supremacy in AI
• Policy and ethical issues in the use of AI and intelligent systems
• Retraining and upskilling the workforce; industry incentives for innovation
• Universal Basic Income (UBI) and other policy ideas for the Future of Work

Chapter 6. Prosperity, productivity, and national innovation systems

• The changing nature of competitive advantage
• The national innovation system
• Lessons for advanced economies
• Lessons for emerging economies

　

PART III. INNOVATION MANAGEMENT

Chapter 7. Managing R&D and product development

• Technical and business risk management
• Timelines and the need for speed – agile development and other methods
• Manufacturing and quality systems
• Technology strategy and roadmaps

Chapter 8. Innovation management systems

• The essential elements of an innovation system
• Different strategic and innovation leadership styles
• Growth horizons and different types of innovation needed
• Innovation stages, process management, and innovation playbook development

Chapter 9. Innovation portfolio management and decision-making

• Introduction to innovation and R&D portfolio management
• Managing complexity: projects, portfolios, and anticipating chaos
• Ensuring portfolio alignment with strategy
• Decision-making processes and their flaws – cognitive biases and distortions

PART IV. THE ECOSYSTEM OF INNOVATION

Chapter 10. Innovation in organizations

• The social nature of innovation and the different roles people need to play
• Dedicated innovation structures and when to use them
• Innovation culture, change management, and the role of leadership
• How to recognize and scale best practices in organizations

Chapter 11. Open innovation

• The role of open innovation and external networks
• External collaboration goals and models
• Innovation competitions
• Additional crowd-sourcing techniques

Chapter 12. Business model innovation

• The elements of a business model
• Platform innovation
• Value proposition stress-testing and business prototyping
• Adapting and pivoting like a startup

Chapter 13. Innovating with a purpose

• The Triple Bottom Line and other socially responsible approaches
• Green innovation and the role of regulation
• How private companies innovate for ESG – cases and discussion
• How the public sector innovates for sustainability – cases and discussion

PART V. QUICK APPLICATION GUIDES TO INNOVATION < MAY BE EXPANDED TO INCLUDE ADDITIONAL SECTORS DEPENDING ON LENGTH OF PARTS I TO IV.>

Chapter 14. Aerospace and defense innovation

• Regular development processes vs. skunk works
• Requirements management, functionality, and technology choices
• Introduction to systems engineering
• Lifecycle management

Chapter 15. Healthcare innovation

• Pharmaceuticals
• Medical Devices
• Healthcare providers
• Healthcare payors

Chapter 16. Fintech and financial industry innovation

• The fintech landscape
• The battle between start-ups vs. incumbents
• Cryptocurrencies and blockchains
• Regulation of fintech and cryptocurrencies

Editorial Reviews

"This book provides a rich overview of the total landscape all innovators must address, presenting the most important tools and how they connect. It is an excellent resource for both teachers and practitioners of innovation and would have made my own leadership in innovation much easier!"
Wayne Delker, Chief Innovation Officer (ret), The Clorox Company

"Innovation for Value and Mission uniquely connects the world of private-sector innovation with the world of innovation policymaking. It’s a rigorous but accessible introduction to innovation for university students. It’s also a great reference that all innovation practitioners and policymakers should have on their bookshelves."
Magnus Penker, Wall Street Journal & USA Today bestselling author; CEO, Innovation360

“The book contains a strong summary of many important concepts, frameworks, and theories about the business innovation process. It would be an ideal book for introducing the fundamentals as well as providing reference materials for more advanced students.”
Nestor Guimaraes, Professor, College of Business, Tennessee Tech University

From the Publisher