Preface xiii
Acknowledgements xvi
How to Use This Book xvii
Part I Entrepreneurial Goals and Context 1
Chapter 1 The Innovation Imperative 3
Innovation Matters 3
Innovation and Entrepreneurship 11
Innovation Isn’t Easy! 13
Managing Innovation and Entrepreneurship 15
Dimensions of Innovation: What Can We Change? 16
A Process Model for Innovation and Entrepreneurship 21
How Can We Make Change Happen? 25
What, Why and When: The Challenge of Innovation Strategy 27
Chapter Summary 37
Key Terms Defined 39
Discussion Questions 39
Further Reading and Resources 41
References 42
Chapter 2 Social Innovation 45
What is ‘Social Innovation’? 46
Different Players 49
Motivation: Why Do It? 53
Enabling Social Innovation 58
The Challenges of Social Entrepreneurship 61
Chapter Summary 63
Key Terms Defined 63
Discussion Questions 64
Further Reading and Resources 64
References 65
Chapter 3 Innovation, Globalization and Development 67
Globalization of Innovation 67
National Systems of Innovation 73
Building Capabilities and Creating Value 84
Building BRICs: The Rise of New Players on the Innovation Stage 85
Innovation for Development 91
Chapter Summary 95
Key Terms Defined 95
Discussion Questions 96
Further Reading and Resources 96
References 97
Chapter 4 Sustainability-led Innovation 99
The Challenge of Sustainability-led Innovation 99
We’ve Seen This Before 101
Sustainability-led Innovation 101
A Framework Model for Sustainability-led Innovation 103
Managing the Innovation Process for Sustainability 111
Responsible Innovation 115
Chapter Summary 116
Key Terms Defined 116
Discussion Questions 117
Further Reading and Resources 117
References 118
Part II Recognizing the Opportunity 121
Chapter 5 Entrepreneurial Creativity 123
Introduction 123
What is Creativity? 124
Creativity as a Process 129
(Why, When and Where) Does Creativity Matter? 131
Who is Creative? 132
How to Enable Creativity 134
Putting It All Together: Developing Entrepreneurial Creativity 156
Chapter Summary 157
Key Terms Defined 157
Discussion Questions 158
Further Reading and Resources 159
References 159
Chapter 6 Sources of Innovation 163
Introduction 163
Knowledge Push 164
Need Pull... 166
Making Processes Better 169
Whose Needs? Working at the Edge 171
Emerging New Markets at ‘the Base of the Pyramid’ 173
Crisis-driven Innovation 176
Towards Mass Customization 177
Users as Innovators 180
Watching Others – and Learning from Them 187
Recombinant Innovation 188
Regulation 189
Futures and Forecasting 190
Design-driven Innovation 190
Accidents 192
Chapter Summary 194
Key Terms Defined 194
Discussion Questions 195
Further Reading and Resources 195
References 196
Chapter 7 Search Strategies for Innovation 199
Making Sense of the Sources 199
What? 200
When? 204
Where? The Innovation Treasure Hunt 205
How? 208
Who? 215
Open Innovation 217
Learning to Search 223
Chapter Summary 225
Key Terms Defined 225
Discussion Questions 227
Further Reading and Resources 227
References 228
Part III Finding the Resources 231
Chapter 8 Building the Case 233
Developing the Business Plan 233
Forecasting Innovation 239
Assessing Risk and Recognizing Uncertainty 246
Anticipating the Resources 251
Chapter Summary 256
Key Terms Defined 256
Discussion Questions 257
Further Reading and Resources 257
References 258
Chapter 9 Leadership and Teams 261
Individual Characteristics 262
Entrepreneurial Teams 271
Context and Climate 278
Chapter Summary 283
Key Terms Defined 283
Discussion Questions 284
Further Reading and Resources 284
References 285
Chapter 10 Exploiting Networks 289
No Man is an Island… 289
The Spaghetti Model of Innovation 291
Types of Innovation Networks 292
Networks as Purposeful Constructions 309
Chapter Summary 314
Key Terms Defined 315
Discussion Questions 315
Further Reading and Resources 316
References 317
Part IV Developing the Venture 321
Chapter 11 Developing New Products and Services 323
The New Product/Service Development Process 323
Success Factors 328
Service Development 330
Tools to Support New Product Development 334
Chapter Summary 351
Key Terms Defined 351
Discussion Questions 352
Further Reading and Resources 352
References 353
Chapter 12 Creating New Ventures 357
Types of New Venture 357
Context for Entrepreneurship 361
Process and Stages for Creating a New Venture 371
Assessing the Opportunity 371
Developing the Business Plan 373
Acquiring the Resources and Funding 375
Crowdfunding 383
Chapter Summary 384
Key Terms Defined 384
Discussion Questions 385
Further Reading and Resources 385
References 386
Chapter 13 Developing Businesses and Talent through Corporate Venturing 389
Internal Venturing and Entrepreneurship 389
Why Do It? 391
Managing Corporate Ventures 398
Strategic Impact of Ventures 405
Chapter Summary 408
Key Terms Defined 408
Discussion Questions 408
Further Reading and Resources 409
References 409
Chapter 14 Growing the Enterprise 413
Factors Influencing Success 413
Funding 420
Growth and Performance of New Ventures 424
Chapter Summary 432
Key Terms Defined 432
Discussion Questions 432
Further Reading and Resources 433
References 434
Part V Creating Value 439
Chapter 15 Exploiting Knowledge and Intellectual Property 441
Innovation and Knowledge 441
Generating and Acquiring Knowledge 442
Identifying and Codifying Knowledge 443
Storing and Retrieving Knowledge 445
Sharing and Distributing Knowledge 446
Exploiting Intellectual Property 450
Chapter Summary 459
Key Terms Defined 459
Discussion Questions 460
Further Reading and Resources 460
References 461
Chapter 16 Business Models and Capturing Value 463
What’s a Business Model? 463
Why Use Business Models? 464
What’s in a Business Model? 466
Business Model Innovation 468
Generic and Specific Business Models 472
Building a Business Model 474
Chapter Summary 479
Key Terms Defined 479
Discussion Questions 479
Further Reading and Resources 480
References 481
Chapter 17 Learning to Manage Innovation and Entrepreneurship 483
Introduction 483
Making Innovation Happen 484
Learning and Building Capability 485
How Learning Happens 487
Recognizing the Opportunity 489
Finding the Resources 491
Developing the Venture 493
Innovation Strategy: Having a Clear Sense of Direction 496
Building an Innovative Organization 499
Networking for Innovation 501
Learning to Manage Innovation 504
Getting Fit for Innovation 505
Managing Innovation and Entrepreneurship 508
Chapter Summary 509
Key Terms Defined 509
Discussion Questions 510
Further Reading and Resources 510
References 511
Index 513
