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Book Summary of Ten Rules for Strategic Innovators: From Idea to Execution
Even world-class companies, with powerful and proven business models, eventually discover limits to growth. That`s what makes emerging high-growth industries so attractive. Although they lack a proven formula for making a profit, these industries represent huge opportunities for the companies that are fast enough and smart enough.
But constructing tomorrow`s businesses while simultaneously sustaining excellence in today`s demands a delicate balance. It is a quest fraught with contradiction and paradox. Until now, there has been little practical guidance.
Based on an in-depth, multiyear research study of innovative initiatives at ten large corporations, Vijay Govindarajan and Chris Trimble identify three central challenges: forgetting yesterday`s successful processes and practices; borrowing selected resources from the core business; and learning how the new business can succeed. The authors make recommendations regarding staffing, leadership roles, reporting relationships, process design, planning, performance assessment, incentives, cultural norms, and much more.ISBN
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