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Preface xiii Acknowledgements xvi How to Use This Book xvii Part I Entrepreneurial Goals and Context 1 Chapter 1 The Innovation Imperative 3 Innovation Matters 3 Innovation and Entrepreneurship 11 Innovation Isn’t Easy! 13 Managing Innovation and Entrepreneurship 15 Dimensions of Innovation: What Can We Change? 16 A Process Model for Innovation and Entrepreneurship 21 How Can We Make Change Happen? 25 What, Why and When: The Challenge of Innovation Strategy 27 Chapter Summary 37 Key Terms Defined 39 Discussion Questions 39 Further Reading and Resources 41 References 42 Chapter 2 Social Innovation 45 What Is ‘Social Innovation’? 46 Different Players 49 Motivation: Why Do It? 53 Enabling Social Innovation 58 The Challenges of Social Entrepreneurship 61 Chapter Summary 63 Key Terms Defined 63 Discussion Questions 64 Further Reading and Resources 64 References 65 Chapter 3 Innovation, Globalization and Development 67 Globalization of Innovation 67 National Systems of Innovation 73 Building Capabilities and Creating Value 84 Building BRICs: The Rise of New Players on the Innovation Stage 85 Innovation for Development 91 Chapter Summary 95 Key Terms Defined 95 Discussion Questions 96 Further Reading and Resources 96 References 97 Chapter 4 Sustainability–led Innovation 99 The Challenge of Sustainability–led Innovation 99 We’ve Seen This Before 101 Sustainability–led Innovation 101 A Framework Model for Sustainability–led Innovation 103 Managing the Innovation Process for Sustainability 111 Responsible Innovation 115 Chapter Summary 116 Key Terms Defined 116 Discussion Questions 117 Further Reading and Resources 117 References 118 Part II Recognizing the Opportunity 121 Chapter 5 Entrepreneurial Creativity 123 Introduction 123 What Is Creativity? 124 Creativity as a Process 129 (Why, When and Where) Does Creativity Matter? 131 Who Is Creative? 132 How to Enable Creativity 134 Putting It All Together: Developing Entrepreneurial Creativity 156 Chapter Summary 157 Key Terms Defined 157 Discussion Questions 158 Further Reading and Resources 159 References 159 Chapter 6 Sources of Innovation 163 Introduction 163 Knowledge Push 164 Need Pull... 166 Making Processes Better 169 Whose Needs? Working at the Edge 171 Emerging New Markets at ‘the Base of the Pyramid’ 173 Crisis–driven Innovation 176 Towards Mass Customization 177 Users as Innovators 180 Watching Others – and Learning from Them 187 Recombinant Innovation 188 Regulation 189 Futures and Forecasting 190 Design–driven Innovation 190 Accidents 192 Chapter Summary 194 Key Terms Defined 194 Discussion Questions 195 Further Reading and Resources 195 References 196 Chapter 7 Search Strategies for Innovation 199 Making Sense of the Sources 199 What? 200 When? 204 Where? The Innovation Treasure Hunt 205 How? 208 Who? 215 Open Innovation 217 Learning to Search 223 Chapter Summary 225 Key Terms Defined 225 Discussion Questions 227 Further Reading and Resources 227 References 228 Part III Finding the Resources 231 Chapter 8 Building the Case 233 Developing the Business Plan 233 Forecasting Innovation 239 Assessing Risk and Recognizing Uncertainty 246 Anticipating the Resources 251 Chapter Summary 256 Key Terms Defined 256 Discussion Questions 257 Further Reading and Resources 257 References 258 Chapter 9 Leadership and Teams 261 Individual Characteristics 262 Entrepreneurial Teams 271 Context and Climate 278 Chapter Summary 283 Key Terms Defined 283 Discussion Questions 284 Further Reading and Resources 284 References 285 Chapter 10 Exploiting Networks 289 No Man Is an Island… 289 The Spaghetti Model of Innovation 291 Types of Innovation Networks 292 Networks as Purposeful Constructions 309 Chapter Summary 314 Key Terms Defined 315 Discussion Questions 315 Further Reading and Resources 316 References 317 Part IV Developing the Venture 321 Chapter 11 Developing New Products and Services 323 The New Product/Service Development Process 323 Success Factors 328 Service Development 330 Tools to Support New Product Development 334 Chapter Summary 351 Key Terms Defi ned 351 Discussion Questions 352 Further Reading and Resources 352 References 353 Chapter 12 Creating New Ventures 357 Types of New Venture 357 Context for Entrepreneurship 361 Process and Stages for Creating a New Venture 371 Assessing the Opportunity 371 Developing the Business Plan 373 Acquiring the Resources and Funding 375 Crowdfunding 383 Chapter Summary 384 Key Terms Defined 384 Discussion Questions 385 Further Reading and Resources 385 References 386 Chapter 13 Developing Businesses and Talent through Corporate Venturing 389 Internal Venturing and Entrepreneurship 389 Why Do It? 391 Managing Corporate Ventures 398 Strategic Impact of Ventures 405 Chapter Summary 408 Key Terms Defined 408 Discussion Questions 408 Further Reading and Resources 409 References 409 Chapter 14 Growing the Enterprise 413 Factors Influencing Success 413 Funding 420 Growth and Performance of New Ventures 424 Chapter Summary 432 Key Terms Defined 432 Discussion Questions 432 Further Reading and Resources 433 References 434 Part V Creating Value 439 Chapter 15 Exploiting Knowledge and Intellectual Property 441 Innovation and Knowledge 441 Generating and Acquiring Knowledge 442 Identifying and Codifying Knowledge 443 Storing and Retrieving Knowledge 445 Sharing and Distributing Knowledge 446 Exploiting Intellectual Property 450 Chapter Summary 459 Key Terms Defined 459 Discussion Questions 460 Further Reading and Resources 460 References 461 Chapter 16 Business Models and Capturing Value 463 What’s a Business Model? 463 Why Use Business Models? 464 What’s in a Business Model? 466 Business Model Innovation 468 Generic and Specific Business Models 472 Building a Business Model 474 Chapter Summary 479 Key Terms Defined 479 Discussion Questions 479 Further Reading and Resources 480 References 481 Chapter 17 Learning to Manage Innovation and Entrepreneurship 483 Introduction 483 Making Innovation Happen 484 Learning and Building Capability 485 How Learning Happens 487 Recognizing the Opportunity 489 Finding the Resources 491 Developing the Venture 493 Innovation Strategy: Having a Clear Sense of Direction 496 Building an Innovative Organization 499 Networking for Innovation 501 Learning to Manage Innovation 504 Getting Fit for Innovation 505 Managing Innovation and Entrepreneurship 508 Chapter Summary 509 Key Terms Defined 509 Discussion Questions 510 Further Reading and Resources 510 References 511 Index 513