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January/February 2006
About innovation, it could be said that in the beginning there is the idea, and in the end, all too often, there still is the idea and only the idea. The reason is that successful innovation is based on both an idea and execution. As these authors state, "the idea is only Chapter 1." Moreover, a new company spawned by the established company must forget the latter's formula for success and its way of doing business. NewCo must forget, borrow and learn.
This article is based on their recently published book, Ten Rules for Strategic Innovators: From Idea to Execution. (Harvard Business School Press, 2005).
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About the Authors
Vijay Govindarajan
Vijay Govindarajan is the Earl C. Daum 1924 Professor of International Business, and Director, William F. Achtmeyer Center for Global Leadership, Tuck School of Business, Dartmouth College
Chris Trimble
Chris Trimble is Adjunct Associate Professor of Business Administration; Executive Director, William F. Achtmeyer Center for Global Leadership, Tuck School of Business, Dartmouth College.
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