Grow from Within: Mastering Corporate Entrepreneurship and Innovation | Date: 28 April 2011, 06:09
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Grow from Within: Mastering Corporate Entrepreneurship and Innovation
By Robert Wolcott, Michael Lippitz
* Publisher: McGraw-Hill
* Number Of Pages: 240
* Publication Date: 2009-09-22
* ISBN-10 / ASIN: 0071598324
* ISBN-13 / EAN: 9780071598323
Product Description:
Create Business and Generate Profits in New Markets through Innovation!
“The best account I have read about how companies can enable and support internal entrepreneurs to achieve innovation-led growth.”
Philip Kotler, S.C. Johnson & Son Professor of International Marketing, Kellogg School of Management
“An essential resource for both private and public sector leaders seeking to align new business creation with an organization’s mission and strategy . . . and achieve results.”
William J. Perry, former U.S. Secretary of Defense
“Wolcott and Lippitz are not only insightful, they are spot on. This is exactly the book corporate leaders—from CEOs and functional executives to corporate entrepreneurial teams—need to help them navigate the exceptional challenges of organic growth and innovation.”
Betsy Holden, Senior Advisor, McKinsey & Company, and former Co-CEO, Kraft Foods, Inc.
About the Book:
IBM reports $15 billion of annual new revenues from 22 Emerging Business Opportunities.
In 2008, $4 billion in revenues from companywide innovation efforts allowed Whirlpool to maintain its top line, despite global recession and the steep drop in housing markets.
A DuPont business group leader, Ellen Kullman, backed an ambitious new business creation program and later became DuPont’s CEO.
Each of these companies has learned how to create new businesses on a repeatable basis. In Grow from Within, two leading scholars from the Kellogg School of Management explain how your company can discover the right approach to corporate entrepreneurship and make it profitable.
Taking innovation to the next level, corporate entrepreneurship is the process of building new businesses within an established organization— new businesses that are distinct from the core company but that leverage some of its most powerful assets. Grow from Within examines:
* The fundamentals of designing a new business
* The four dominant models of corporate entrepreneurship
* Ways to align your innovation program with your strategy
* Leadership requirements for developing new businesses
Innovation is critical to business success and growth, but it’s only the first step. Without strategically driven processes to turn insights into growing businesses, even the best ideas can fail. Creativity is often serendipitous; innovation management should not be.
Grow from Within provides the knowledge you need to conceive and design valuable new businesses that breathe life into ideas and dramatically improve your top and bottom lines.
Summary: Leading edge tools for corporate entrepreneurs
Rating: 5
Wolcott and Lippitz created research-based tools for entrepreneurs within corporations to genuinely bring innovative ideas to market. My favorite is the Innovation Radar, which has different elements for corporate professionals to consider while developing their ideas. Everytime I show this radar to an entrepreneur or corporate entrepreneur, they realize they had not considered at least one of these elements.
The other areas of the book: The Four Models of Corporate Entrepreneurship, Leadership and Learning, all provide insights not normally provided by other authors, books, or conversations with experts. There are far too few skilled business professionals familiar with corporate entrepreneurship. Wolcott and Lippitz know many of this special group and have the skills to capture what the best of them accomplish, thus making plain this important art for the rest of us regular people. I highly recommend the book.
Summary: Real insight transferrable into practice
Rating: 5
In my work we have been wrestling with the innovation question from a number of perspectives. I am previously familiar with the authors through their work leading the Kellogg Innovation Network, and this book reflects high level insights gleaned from a number of leading organizations around the world. However, I personally find more value in how this isn't just a book of stories. There is a very good balance of explanation and simplicity. With the manner the thinking has been segmented and formatted, the book is easily usable by leaders to learn and then apply as a manual within existing organizations.
In short, this is a real and practical addition to a very challenging business topic. I highly recommend this book, and believe it will be discussed and referred to by managers for years to come.
Summary: Fascinating Read! Must have for executives and managers
Rating: 5
Grow From Within takes a very thoughtful and real-world approach towards corporate innovation. Well-written, with several very good case studies, it's a book that's not about creativity, but building the business framework to turn that creativity into a profitable enterprise. This is really a must-have for anyone in a leadership position, particularly in industries where constant innovation is essential to the survival of the company.
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