The innovation life cycle

Many of the designations used by manufacturers and sellers to distinguish their products are claimed as trademarks. Where those designations appear in this book, and the publisher was aware of a trademark claim, the designations have been printed with initial capital letters or in all capitals. The author and publisher have taken care in the preparation of this book, but make no expressed orimplied warranty of any kind and assume no responsibility for errors or omissions. No liability is assumed for incidental or consequential damages in connection with or arising out of the use of the information or programs contained herein. The publisher offers excellent discounts on this book when ordered in quantity for bulk purchases or special sales, which may include electronic versions and/orcustom covers and content particular to your business, training goals, marketing focus, and branding interests. For more information, please contact: U.S. Corporate and Government Sales (800) 382-3419 corpsales@pearsontechgroup.com For sales outside the United States please contact: International Sales international@pearson.com Visit us on the Web: informit.com/ph Library of CongressCataloging-in-Publication Data Croslin, David. Innovate the future : a radical new approach to IT innovation / David Croslin. p. cm. Includes index. ISBN 978-0-13-705515-9 (pbk. : alk. paper) 1. Technological innovations. 2. Information technology— Management. I. Title. T173.8.C765 2010 658'.05—dc22 2010007206 Copyright © 2010 Pearson Education, Inc. All rights reserved. Printed in the United States of America.This publication is protected by copyright, and permission must be obtained from the publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopying, recording, or likewise. For information regarding permissions, write to: Pearson Education, Inc. Rights and Contracts Department 501 Boylston Street,Suite 900 Boston, MA 02116 Fax: (617) 671-3447 ISBN-13: 978-0-13-705515-9 ISBN-10: 0-13-705515-3 Text printed in the United States on recycled paper at Courier in Stoughton, Massachusetts. First printing, April 2010

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The Innovation Life Cycle

ow that we know about ideas and the transformative value process necessary to decide whether those ideas should be dismissed, are worthy of becoming inventions, or maybe even are innovations, it’s time to understand in more detail the types of innovation and the lifecycle that innovation takes. This is important since where our idea falls in the life cycle will determine how we need to think about the idea and what next steps we take to maximize the value of the idea. Yes, ideas that are successful (or even some that are not) do go through a life cycle. It can be that the idea is so new and radical that it is a new innovation and must go through all of thegrowing pains and excitement of initial innovation that then disrupts the marketplace. It’s possible that the idea, although quite innovative, is more of an add-on to an existing idea and better thought of as incremental innovation. Such incremental innovation usually starts out as positive but, when continued too long, can frequently end up as negative and ultimately destructive. How can one tellwhere “positive” ends and “negative” starts? The key is the concept of inflection points in thinking about ideas and where they potentially fall. A knowledge of these concepts will keep the astute reader on the path of the optimal innovation life cycle. It’s important to know when you are throwing good money after bad, especially when you can be putting that good money into the next disruptive...