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Lester CraftOne of the biggest business books of 2007 will feature innovation ... That book, more than likely, will be the newly published Payback.
— Innovate Forum
Posted December 11, 2007
A lot of books on innovation make it sound like an end in itself, as if innovation carries the answer to every business problem. James P. Andrew and Harold L. Sirkin sound a refreshing note or, rather, several of them. They argue that companies must evaluate business innovation according to the direct or indirect financial returns it produces, its ¿payback¿ ¿ and that most products fail to earn back their investment. They then discuss the issues you need to consider if you are investing in innovation: the models, factors, processes and more. While some of their discussions are a bit too sweeping or general, the authors¿ specific stories of innovation attempts that failed or succeeded illustrate how systematic evaluation could have helped companies estimate a product¿s chances of success. As a result, this book is a realistic antidote to innovation intoxication. We recommend it to anyone who is trying to plan seriously and realistically for innovation in a business context.Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.