Innovation: Creating Long-term Value in New Business Models and Technology

In their book, Making Innovation Work: How to Manage It, Measure It and Profit from It (Wharton School Publishing), authors Tony Davila, Marc J. Epstein and Robert Shelton make the case that innovation is not a one-time event, but a process that must be continuously managed, measured and carried out in all a company’s products, services and business functions.

Using specific companies as examples, and drawing on existing research as well as their own experiences in the field, the authors demonstrate what works and what doesn’t, and offer advice on how to consistently maximize the value of innovation investments. Below is an excerpt from Chapter Two, entitled Mapping Innovation: What Is Innovation and How Do You Leverage It?

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