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Companies can't survive without innovating. But most put far more
emphasis on generating Big Ideas than on executing them--turning
ideas into actual breakthrough products, services, and process
improvements. That's because "ideating" is energizing and
glamorous. By contrast, execution seems like humdrum,
behind-the-scenes dirty work. But without execution, Big Ideas go
nowhere. In The Other Side of Innovation, Vijay Govindarajan and
Chris Trimble reveal how to execute an innovation
initiative--whether a simple project or a grand, gutsy gamble.
Drawing on examples from innovators as diverse as Allstate, BMW,
Timberland, and Nucor, the authors explain how to: * Build the
Right Team: Determine who'll be on the team, where they'll come
from, how they'll be organized, how much time they'll devote to the
project, and how they'll navigate the delicate and conflict-rich
partnership between innovation and ongoing operations. * Manage a
Disciplined Experiment: Decide how team members can quickly test
their assumptions , translate results into new knowledge, and
measure progress. Give innovation leaders a tough but fair
performance evaluation. Practical and provocative, this new book
takes you step-by-step through the innovation execution process--so
your Big Ideas deliver their full promise.
In Eastern Europe and Central Asia there are significant pressures
for residential energy tariffs to rise, as government budgets are
increasingly stretched and cannot afford to pay large energy
subsidies. Further pressures for tariffs to rise come from
environmental concerns, as the tariff levels that households now
face do not cover the social costs of energy production. Because
reforms that would increase energy tariffs are likely to affect
significantly the poor and the middle class, their political
feasibility may be questioned unless appropriate ways of cushioning
the impacts can be devised. Balancing these competing claims-fiscal
and environmental concerns on the one hand, affordability and
political economy concerns on the other-is a task that policy
makers in the region are increasingly unable to put off. While
challenging, the reforms needed for this balancing act can build on
much that has been learned in the last decade in terms of improving
the effectiveness of social assistance systems and increasing
energy efficiency. This report suggests that a policy agenda that
focuses on cutting subsidies to the energy sector, while investing
in energy efficiency and supporting households at the bottom of the
distribution, amounts to a new wave of policy reforms for the
energy sector in transition countries. The feasibility of such an
integrated policy agenda and the ability of these policies to
balance the competing claims of fi scal responsibility and social
concerns are explored through different policy scenarios, which, in
their simplicity, help clarify the parameters of the policy choices
many countries ECA are facing. This report is a part of a series of
3 regional reports. The series includes 'Growing green: The
economic benefits of climate action in Europe and Central Asia',
'Balancing act: Cutting energy subsidies and protecting
affordability' and 'Lessons learned from energy efficiency success
cases'.
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. With no proven
formula for making a profit, these industries represent huge
opportunities for the companies that are fast enough and smart
enough to capture them first. But building tomorrow's businesses
while simultaneously sustaining excellence in today's demands a
delicate balance. It is a mandatory quest, but one that is 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. Breakthrough growth opportunities
can make or break companies and careers. "Forget, Borrow, Learn" is
every leader's guide to execution in unexplored territory.
Businesses stumble when they imagine that innovation is mostly
about ideas. The reality is that ideas are only beginnings. Indeed,
even a company with the world's best idea still faces a devilish
challenge: it must build the business of tomorrow without
endangering the business of today. Vijay Govindarajan and Chris
Trimble are the world's leading authorities on the successful
management of innovation. In Beyond the Idea, they distil more than
a decade of research and insight into a practical, accessible,
read-at-one-sitting handbook that offers invaluable guidance for
anyone charged with making innovation happen: executives, managers,
consultants, project leaders and teams. Beyond the Idea shows
exactly how to: Build a team with a very particular structure, one
that makes it possible to simultaneously build something new and
sustain what exists. Manage any innovation initiative as a
disciplined experiment. Implement three distinct models for moving
from ideas to action. Beyond the Idea is an essential book for any
business that recognizes that innovation always has been, and
always will be, the key to long term growth and vitality.
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