Innovation and Entrepreneurship

John R. Bessant, PhD, is Emeritus Professor of Innovation and Entrepreneurship at the University of Exeter, UK. He worked as a chemical engineer before beginning a career in innovation research and consultancy, which has spanned more than 35 years. Bessant currently holds visiting appointments at the University of Erlangen–Nuremberg, Germany, and the University of Stavanger, Norway.Joe Tidd, PhD, is Professor of Technology and Innovation Management at the Science Policy Research Unit, University of Sussex, UK. He is a physicist with degrees in technology policy and business administration. Tidd has held visiting appointments at University College London, UK, and Cass Business School, UK. He has advised on technology policy and consulted on technology management in numerous contexts and is a past recipient of the Price Waterhouse Urwick Medal for contributions to management teaching and research.

• Preface to the Fourth Edition xiiiAcknowledgments xviiAbout the Authors xixPart I Entrepreneurial Goals and Context 1Chapter 1 The Innovation Imperative 3Innovation Matters 3Innovation and Entrepreneurship 11Innovation Isn’t Easy! 14Managing Innovation and Entrepreneurship 17Dimensions of Innovation: What Can We Change? 18A Process Model for Innovation and Entrepreneurship 22How Can We Make Change Happen? 27What, Why and When: The Challenge of Innovation Strategy 30Chapter Summary 41Key Terms Defined 43Discussion Questions 44Further Reading and Resources 45References 45Chapter 2 Social Innovation 49What Is ‘Social Innovation’? 50Different Players 54Motivation: Why Do It? 57Enabling Social Innovation 62The Challenges of Social Entrepreneurship 65Chapter Summary 68Key Terms Defined 68Discussion Questions 69Further Reading and Resources 69References 69Chapter 3 Innovation, Globalization and Development 71Globalization of Innovation 71National Systems of Innovation 79Building Capabilities and Creating Value 88Innovation for Development 95Chapter Summary 100Key Terms Defined 100Discussion Questions 101Further Reading and Resources 101References 101Chapter 4 Sustainability- led Innovation 105The Challenge of Sustainability- led Innovation 105We’ve Seen This Before 107Sustainability- led Innovation 107A Framework Model for Sustainability- led Innovation 109Managing the Innovation Process for Sustainability 117Responsible Innovation 121Chapter Summary 122Key Terms Defined 122Discussion Questions 123Further Reading and Resources 123References 123Part II Recognizing the Opportunity 127Chapter 5 Entrepreneurship in the Digital Economy 129What Is Digital Innovation? 130Chapter Summary 149Key Terms Defined 149Further Reading and Resources 151References 151Chapter 6 Entrepreneurial Creativity 155Introduction 155What Is Creativity? 156Creativity as a Process 160(Why, When and Where) Does Creativity Matter? 163Who Is Creative? 164How to Enable Creativity 166Putting It All Together: Developing Entrepreneurial Creativity 188Chapter Summary 189Key Terms Defined 189Discussion Questions 190Further Reading and Resources 190References 191Chapter 7 Sources of Innovation 193Introduction 193Chapter Summary 228Key Terms Defined 228Discussion Questions 229Further Reading and Resources 229References 230Part III Finding the Resources 233Chapter 8 Search Strategies for Innovation 235Making Sense of the Sources 235What? 236When? 238Where? The Innovation Treasure Hunt 240How? 243Who? 251Open Innovation 255Learning to Search 260Chapter Summary 262Key Terms Defined 263Discussion Questions 264Further Reading and Resources 264References 265Chapter 9 Building the Case 267Developing the Business Plan 267Chapter Summary 299Key Terms Defined 299Discussion Questions 299Further Reading and Resources 300References 300Chapter 10 Leadership and Teams 303Individual Characteristics 304Entrepreneurial Teams 315Context and Climate 324Chapter Summary 330Key Terms Defined 330Discussion Questions 331Further Resources 331Further Reading and Resources 331References 331Part IV Developing the Venture 337Chapter 11 Exploiting Networks 339No Man Is an Island… 339The Spaghetti Model of Innovation 341Types of Innovation Networks 343Networks as Purposeful Constructions 366Chapter Summary 370Key Terms Defined 371Discussion Questions 371Further Reading and Resources 372References 372Chapter 12 Developing New Products & Services 375The New Product/Service Development Process 375Success Factors 387Service Development 389Tools to Support New Product Development 393Chapter Summary 410Key Terms Defined 410Discussion Questions 411Further Reading and Resources 412References 412Chapter 13 Creating New Ventures 415Types of New Venture 415Chapter Summary 448Key Terms Defined 448Discussion Questions 448Further Reading and Resources 449References 449Chapter 14 Developing Businesses and Talent through Corporate Venturing 453Internal Venturing and Entrepreneurship 453Why Do It? 455Managing Corporate Ventures 463Strategic Impact of Ventures 471Chapter Summary 476Key Terms Defined 476Discussion Questions 476Further Reading and Resources 477References 477Part V Creating Value 479Chapter 15 Growing the Enterprise 481Factors Influencing Success 481Chapter Summary 504Key Terms Defined 504Discussion Questions 504Further Reading and Resources 505References 505Chapter 16 Exploiting Knowledge and Intellectual Property 511Innovation and Knowledge 511Chapter Summary 536Key Terms Defined 536Discussion Questions 537Further Reading and Resources 537References 538Chapter 17 Business Models and Capturing Value 541What’s a Business Model? 541Why Use Business Models? 542What’s in a Business Model? 544Business Model Innovation 547Generic and Specific Business Models 550Building a Business Model 554Chapter Summary 558Key Terms Defined 558Discussion Questions 558Further Reading and Resources 559References 560Chapter 18 Learning to Manage Innovation and Entrepreneurship 563Introduction 563Making Innovation Happen 564Learning and Building Capability 565How Learning Happens 568Recognizing the Opportunity 569Finding the Resources 571Developing the Venture 573Innovation Strategy – Having a Clear Sense of Direction 577Building an Innovative Organization 580Networking for Innovation 582Learning to Manage Innovation 585Getting Fit for Innovation 586Managing Innovation and Entrepreneurship 588Chapter Summary 590Key Terms Defined 590Discussion Questions 591Further Reading and Resources 591References 591Index I- 1