Sample Book Review on Innovation and Entrepreneurship

Innovation and Entrepreneurship

 

Description

The book is entitled “Innovation: The five disciplines for creating what customers want”, authored by Curtis and William. It was published in 2006 by Crown business publications. The book is technical as it provides an in-depth investigation and analysis of the various innovation and technological ideas. This makes the book appropriate in gaining wide technical skills and knowledge. For example, the various models discussed in the book, including NABC model, provide critical information on the best strategies for value creation. It also discusses the nature of innovation capability in promoting a strong value proposition (Carlson & Wilmot, 2006). Organizational technical abilities require proper understanding of the various organizational variables such as customers’ needs and communication approaches available.

In addition, the technicality of the book can be explained by the discussion of the process of developing innovation teams. The innovation team help in creating a framework for handling knowledge based activities in the organization. The book discusses five major themes including important needs, value creation, innovation champions, innovation team, and organizational alignment. First, important needs topic focuses on addressing the significant needs of the customers and the entire market. Value creation identifies the innovation strategies relevant in developing strong value proposition. The theme of innovation champions discusses skills and characteristics of champions.

The book emphasizes on the concept of innovation as the main tool towards developing new value for the customers. The authors define successful creation and delivery of improved products significant in maintaining the company’s profitability and success.  In practical terms, innovation guides the mangers in making effective decisions that aligns to the innovations. This would important in ensuring the achievement of organizational goals as well as meeting the customer needs.  The next theme of innovation team identifies the process of developing appropriate model for resolving significant problems in the community.  The organizational alignment theme introduces the readers to the various aspects of organization alignment such as shared recognition and visions and goals among others (Drucker, 2014). I think the intended audience of the book is entrepreneurs and business managers. This is because the book identifies significant strategies and tools useful in meeting customer needs and values. This is crucial towards ensuring that the services provided by the entrepreneurs meet the customer value and satisfaction. Thus, the book would be useful to existing business in order to develop innovation models to enhance value proposition in the organizations.

Applied Discussion

The books provides the various ideas and concepts are useful in promoting the productivity and performance of the organizations. The concept of innovation is crucial in supporting the improvements of the processes, enhancing efficiency, and maintaining the company’s profitability. Most of organization uses the innovation models to maintain the competitiveness of the firms in the current markets. In the current environment, competition has increased to the introduction of advanced technology and sharing of knowledge through internet. Thus, the book insists that organization should center their operations on innovation in and creation of the right business models for the organizations. For example, the workplace should adopt innovative models in order to reduce costs of operations as well as increasing productivity.

Most importantly, the authors emphasize on aligning the business operations with both customer and market needs. This can be done by making innovation an element of the business strategy. This is because the strategic direction helps the business in monitoring all relevant trends in the industry (Carlson & Wilmot, 2006). The strategic implementation helps in assessing the benefits of the various innovation ideas in the organization. The author also suggests that the significant themes of innovation and value proposition be applied through discussing the value of the business frameworks and ideas to the organizations. They also suggest that the management should be aware of the impacts of the innovation models on the success of the organization. This also affects the nature of applying the various models and ideas on the businesses.

In addition, authors argued that the organization should be aligned in an appropriate manner with strong organizational structures and processes, transparency, and commitment by the management and the employees. This forms one of the practical aspects that improve the performance of workers in a workplace setting. Thus, the author insisted on proper assessment and evaluation in applying the various innovation concepts and ideas. For example, in my workplace, the management has developed a strong customer policy. The policy is usually targeted towards that customers obtain quality and right quantity products as ordered. Apart from that, the company has made efforts to create innovative models of promoting organizational processes and procedures. Such procedures have helped in improving the company’s efficiency and effectiveness

The five disciplines of innovation include important needs, value creation, innovation champions, innovation teams, and organizational alignment. The innovation teams are productive individuals used in collaborating best ideas to meet the customer’s needs and requirements.  The first discipline of innovation is important needs. This suggests the relevant ways to meeting both customer and market demands (Drucker, 2014). Value generation uses the NABC model to create and deliver the enhanced customer value. The innovation champions assist in driving value creation phase in the organization. Organizational alignments identify the concept that aligns the innovation teams with the needs to the customers in order to enhance increased customer value.

NABC stands for Need, Approach, Benefit and Competition. The NABC model is applied in sharpening the company’s process of developing value proposition for the customer’s products and services. The text refers to the NABC during the designing of customer experiences to synthesize customer value propositions. The implications of the company lifetime curve imply the experience of business cycles. This helps in understanding performance trend of the company under the various innovation models. The book describes watering holes as the computer attack strategy used in the organization to determine the vulnerability of the websites. The innovation process used watering holes to determine the ability of the process to deliver value to the customers.

The book identified three different levels of innovation including the incremental innovation, substantial innovation and radical innovation (Carlson & Wilmot, 2006). The incremental innovation helps in providing continuous improvements of the existing product related aspects in the organization. This helps the organization from the stiff competition in the markets. Substantial innovation helps in adding value to the creation of business opportunities. This level of innovation requires an effective strategy to manage the successful implementation of innovative ideas.  While, radical innovation identifies the models useful in creating new models of business performance. This explains their efforts in providing change in the productivity of the business.

Personally, I think that every project requires an innovation champion. The innovation champion usually possesses adequate skills on the creation of new customer value. It is impossible for a project to succeed without having an innovation champion. The book understood the importance of teams in the innovation process. The teams help in organizing the various innovation process responsibilities. The team’s synergy and collaborative efforts is useful in developing better ideas and concepts for the innovation models. The teams also help in the creation, selection, implementation, and sustenance of the ideas. The innovation motivators are individuals who form the motivation behind developing the various innovation strategies and ideas. They have strong traits for success in the current business world. The motivators target the development and implementation of new ideas in order creates customer value. The authors recognize the formula for failure as the lack of organizational commitment and focus in creating new ideas as well as their implementation.

Evaluation

 

I think that the book provides useful ideas for application in my workplace. The five disciplines of innovation described in the text have been applied in most organizations. For example, in my workplace, there are formed innovation teams that collaborates their ideas in developing relevant strategy to meet the needs of the customers. The nature of customer value proposition identified by the NABC model is practical (Priem, Li, & Carr, 2012), since most of the customers are keen on gaining value on the products and services offered.  I also think that the book is well organized and written, since it is divided into five subtopics that discuss the five disciplines of innovation. This is reliable to the readers to understand the documented concepts and ideas.  I really like the book due to its presentation of ideas with the use of different examples and illustrations. Such illustrations enhance the understanding of the ideas and concepts. However, the authors should improve in the area of discussion by providing in-depth scholarly evidence and analysis. Generally, I recommend all business students and managers to read the book to gain in depth understanding of applying innovation in the workplace.

References

 

Carlson, C. R., & Wilmot, W. W. (2006). Innovation: The five disciplines for creating what customers want. New York, NY: Crown Business.

Drucker, P. (2014). Innovation and entrepreneurship. London, UK: Routledge.

Priem, R. L., Li, S., & Carr, J. C. (2012). Insights and new directions from demand-side approaches to technology innovation, entrepreneurship, and strategic management research. Journal of management, 38(1), 346-374.

 

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