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Business Innovation
A Case Study Approach




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ISBN 9781032041872
January 26, 2022 Forthcoming by Routledge
312 Pages 66 B/W Illustrations

 
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Book Description

This book provides an understanding of innovation models and why they are important in the business context, considers sources of innovation, and how to apply business frameworks using real world examples of innovation-led businesses.

After providing a solid background to the key concepts related to innovation models, the book looks at why innovation takes place and where the sources of innovation lie, from corporate research to crowd-sourced and government-funded initiatives. Innovation models across manufacturing, services and government are explored, as well as measuring innovation, and the impact of design thinking and lean enterprise principles on innovation and sustainability-driven imperatives.

Offering a truly comprehensive and global approach, Business Innovation should be core or recommended reading for advanced undergraduate, postgraduate, MBA and Executive Education students studying Innovation Management, Strategic Management and Entrepreneurship.

Table of Contents

Part I – "What" - Introduction to Innovation

1. Chapter 1 - Innovation – General Background

1.1 Introduction

1.2 Invention Vs Innovation

1.3 Historical Perspectives of Innovation

1.4 Is innovation limited to Products?

1.5 Innovation in Service

1.6 Concluding Remarks

1.7 References

2. Chapter 2 - Models of Innovation

2.1 Introduction

2.2 Cosmetic/Survival Innovation

2.3 Leap forward Innovation

2.4 Disruptive Innovation

2.4.1 Low-end disruptive innovation

2.4.2 Nascent market disruptive innovation

2.5 Seismic Innovation

2.6 Innovation – What has changed Now?

2.7 Concluding Remarks

2.8 References

3. Chapter 3 – Challenges Embracing Innovation

3.1 Introduction

3.2 Triangular Dilemma

3.3 Market Innovation Challenges

3.3.1 Sticky Customers

3.3.2 Predictable M&A

3.3.3 Stable Supply Chain

3.4 Organizational Innovation Challenges

3.4.1 Lack of Coordinated Innovation Strategy

3.4.2 Lack of Diversity

3.4.3 Compartmentalization

3.4.4 Risk Averse Non-Experimental Culture

3.4.5 Misaligned Incentive

3.4.6 Micromanagement

3.4.7 Span of Control

3.4.8 Lack of Sense of Urgency

3.5 Stakeholder Innovation Challenges

3.5.1 Investor Community

3.5.2 Government

3.5.3 Local Ecosystem

3.5.4 Employees

3.6 Concluding Remarks

3.7. References

Part II – "Why" – Innovation Imperatives

4. Chapter 4 – Innovation – A Key to Business Success

4.1 Introduction

4.2 New Economic Paradigm

4.3 Consumers Are Changing

4.4 Competitive Landscape Changes

4.5 Shorter Product Life Spans

4.6 Globalization Vs Localization

4.7 Digital Tsunami

4.8 Technology Shaping the Business Core

4.9 Dynamic Capabilities

4.10 Concluding Remarks

4.11 References

Part III – "Where" – Sources of Innovation

5. Chapter 5 – Sources of Innovation

5.1 Introduction

5.2 Corporate Research and Development

5.3 Organizational Processes and Ecosystems - Integrated Value Chain

5.4 Corporate Values and Culture

5.5 Partnership and Open Innovation

5.6 Strategic Resources & Talent Architecture

5.7 Operating Model (Governance, KPI, Structure, Accountability etc.)

5.8 Concluding Remarks

5.9 References

Part IV – "How" – Approach to Advance Innovation

6. Chapter 6 - Framework Based Innovation Approach

6.1 Introduction

6.2 Innovation in Action

6.3 Factors Impacting Innovation

6.4 TRIAL© Holistic Framework for Innovation

6.4.1 TRIAL© – Framework Innovation Dimensions

6.4.2 VASTEFA© Leadership Framework

6.5 Concluding Remarks

6.6 References

Part V – Innovations in Industry Verticals

7. Chapter 7 – Innovations in Manufacturing

7.1 Introduction

7.2 Pharmaceuticals

7.3 Heavy Equipment

7.4 Automotive

7.5 Semiconductor

7.6 Concluding Remarks

7.7 References

8. Chapter 8 – Innovations in Service Industry

8.1 Introduction

8.2 Service Trend

8.3 Healthcare

8.4 Retail

8.5 Hospitality

8.6 Education

8.7 Wellness

8.8 Banking

8.9 Transportation

8.10 Concluding Remarks

8.11 References

9. Chapter 9 – Innovations in Government

9.1 Introduction

9.2 Modalities of Community Service – Mass Vs Personalized

9.3 Citizen-Government Redefined Boundaries

9.4 Digital Thread and Realtime Alerts

9.5 Smart Cities

9.6 Concluding Remarks

9.7 References

Part VI – Economics of Innovation

10. Chapter 10 – Measuring Innovation

10.1 Introduction

10.2 Traditional KPIs

10.3 Innovation Risk Vs Reward – A Balanced Approach

10.4 How to Value Innovation – Organic Vs M&A Scenarios

10.5 Concluding Remarks

10.6 References

Part VII – Special Topics on Innovation

11. Chapter 11 - Design Thinking

11.1 Introduction

11.3 Design Thinking for Innovation – Why Now?

11.3 Design Thinking Approach

11.4 Success Stories – Where Design Thinking Advanced Innovation

11.4.1 Airbnb

11.4.2 Ericsson

11.4.3 Burberry

11.4.4 Nordstrom

11.4.5 Bank of America - Keep the Change Program

11.5 Concluding Remarks

11.6 References

12. Chapter 12 - Lean Enterprise and Innovation

12.1 Introduction

12.2 Lean and Innovation- Are they Mutually Exclusive?

12.3 How Lean Accelerates Innovation?

12.4 Success Stories – Where Lean Thinking Advanced Innovation?

12.4.1 Pixar Animation Studios

12.4.2 Dropbox

12.4.3 Zappos

12.4.4 General Electric

12.5 Concluding Remarks

12.6 References

13. Chapter 13 – Sustainability-focused Innovation

13.1 Introduction

13.2 Evolving Market Orientation Towards Sustainability – Gen Z

13.3 Sustainability – A New Secular Growth Driver

13.4 Success Stories – Sustainability Focused Innovation

13.4.1 The Procter & Gamble Company (P&G)

13.4.2 Patagonia

13.4.3 Braskem (Brazil)

13.4.4 Colorifix (UK)

13.5 Concluding Remarks

13.6 References

Part VIII – Case Studies

Case 1: Amgen - Biosimilar Innovations – By Kavya Sivan

Case 2: FedEx: Innovation Through Sustained Adaptability – By Alaina Gregory

Case 3: Reliance Jio: From 4G to Digital Innovation - By Hursh Motwani

Case 4: Stryker Case Study: Design Thinking Response to COVID-19 – By Kyle Geiger

Case 5: Whirlpool - A History of Sustained Innovation from Within – By Malik Abbasi

Case 6: Apple’s Swift: A Programming Language Innovation for the Future – By Maxwell Cornellier

Case 7: Microsoft: The Age of Nadella – By Serena Wang and Minnie Sun

Case 8: The Procter & Gamble Company – A Unique Innovation Approach – By Minnie Sun and Serena Wang

Case 9: Timberland - Sustainable Innovation – By Drew Arnson

Case 10: Zara-Inditex – Fast-Fashion Done Right – By Rocco Pelà

Case 11: Patagonia - Leader of a Sustainable Business – By Suzanna Yik

Case 12: Amazon - Head in the Cloud: Transformation Through Leadership’s Lens – By William McCrone

Case 13: Ericsson’s Innovation through M&A – By Derek Kuo

Case 14: Samsung’s New Age Innovation Using Organization and Culture – By Derek Kuo

Case 15: Sun Pharma Industries – Innovation through Specialty acquisition strategy, technology, leadership, and culture - By Katie Kuhlman

Case 16: Ecovative Design – Sustainable Business – By Daniel Meeks

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Author(s)

Biography

Vijay Pandiarajan is a faculty member of Technology & Operations department at the Ross School of Business, The University of Michigan, Ann Arbor, Michigan, USA. He focuses on teaching and researching Innovation and Technology. Before joining the Ross School faculty, he held leadership positions at various global companies including at Accenture. His educational highlights include Sloan Fellow MBA degree from the Massachusetts Institute of Technology (MIT) Sloan School of Management, USA, with a focus on Technology and Innovation, PhD in Industrial Engineering from the West Virginia University, USA, Master’s degree in Aircraft Production Technology from the Indian Institute of Technology, Madras, India. He built Jaguar fighter planes at Hindustan Aeronautics Ltd, collaborating with British Aerospace, Safran (previously Turbomeca), and Rolls Royce before pursuing his doctoral studies.

Reviews

"It's hard to imagine a more comprehensive approach to innovation than that provided by this book, and the lessons and examples are up-to-the-minute fresh. If you are interested in learning about--and then practicing--innovation in business, you have come to the right place."

- Thomas H. Davenport, Distinguished Professor of IT and Management, Babson College, Visiting Professor, Oxford University Saïd Business School, Senior Advisor, Deloitte Analytics and AI Practice, Digital Fellow, MIT Initiative on the Digital Economy

"This book is a great introduction to innovation that is unique in its approach with numerous case studies and examples representing leading global corporations. It integrates some of the important topics such as design thinking, lean start-up, and sustainability which I think are very relevant to the topic of Innovation. Student activities at the end of each chapter leveraging attached cases will reinforce learning of the concepts, tools, and frameworks discussed. Well researched and timely publication written by an experienced author, and I am sure students and practitioners will find it very useful."

- Pierre Azoulay, Professor, Technological Innovation, Entrepreneurship, and Strategic Management, MIT Sloan School of Management, USA

"This Innovation textbook by Vijay Pandiarajan approaches innovation in a systematic way by explaining concepts and frameworks thoroughly with real-world examples and cases studies. I particularly enjoyed its ability to address innovation trends in many industry verticals and discuss lean, design thinking, and sustainability imperatives. This book will certainly benefit undergraduate and graduate students as well as innovation practitioners from the industry."

- Feng Zhu, Professor of Business Administration, Technology and Operations, Harvard Business School, USA

"It’s exciting to see Vijay launch his book [Business Innovation: A Case Study Approach] for both students and innovation practitioners. The storytelling approach to formally introduce Innovation with frameworks to address key idea of 'how to advance innovation " is powerful. This can be a one-stop source for those who want to get formally introduced to and for practice of innovation processes."

- Martin J. Curran, Executive Vice President, Corning Innovation Officer, USA