Utterback does a superb job of providing real world examples of how innovation can change the landscape of your business. The book provides a clear understanding of the life cycle of innovation and the behaviors within a firm as they migrate from a focus on product innovation to a focus on process innovation.
The book provides a guide that can be applied to any industry, any product in any time. It gives the reader the ability to identify what phase of innovation their company is in and helps them predict how other companies are behaving today and how they might behave in the future in the face of direct competitive challenges.
The book also clearly demonstrates that innovation that can wipe you out will seldom come from the "Usual Suspects". Not those you see at your direct competitors, but from those companies that see the weaknesses and deficiencies in your products and redefine how they could be overcome with new technology.
I found this book to be a perfect balance of academic principles and cold hard business reality. A very enjoyable read that has provided me with yet another valuable tool to use in developing strategies to defend existing markets and tapping into new.
It focuses on how management must think about new innovations in technology and processes. Ultimately to survive they must not shrink away from a technological threat, but face it head on.
Most companies defend their position by intensely focusing on how to make their existing product, better, cheaper and faster. Ultimately they realize that as shinny, beautiful and cheap as they have made their latest buggy whip, their customer has lost interest in the face of some new technology.
Cheaper, faster, better, smarter will only keep your doors open for so long and microscopically staring down on both your customers needs and your products attributes, may leave you standing outside looking in.
Great read!
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