“One of the most common misconceptions is that innovation is primarily about changing technology.” Mention innovation to any business-savvy CEO, and he will envision it as R&D labs with engineers and scientists developing the next new technology,” says Making Innovation Work, by Davila, Epstein and Shelton. Whereas, innovation is not just about technology. It could also imply change in strategy.

Companies that are high performers innovate by leveraging both new business models and improved technologies. The book cites various examples to show how strategic decisions can be the foundation of new-age innovation. For instance, eBay developed a new business model for auctions using readily available Internet technology.

The book has plenty of such examples and ideas that are easily executable. The authors, draw upon their decades of consulting experience in actually implementing many of these techniques at top companies. It is rightly pitched at showing how to lead, track, incentivize and get more from innovation rather than just knowing how to innovate.

Author: Davila, Epstein, Shelton Pages: 368 Price: $12 Publisher: Wharton School