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Book chapter
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Reference no. 2819BC
Published by: Harvard Business Publishing
Published in: 2007

Abstract

For almost every company, the greatest challenge of innovation is not a lack of ideas but rather, successfully managing innovation so that it delivers the required payback, or return on the company''s investment of money, time, and people. This chapter introduces the concept of payback and summarizes three innovation business models and what it takes to align and lead for payback. May be used with: (2821BC) ''The Indirect Benefits of Innovation: Making Innovation Pay''; (2820BC) ''Cash and Cash Traps: Making Innovation Pay''; (2822BC) ''The Integrator: Choosing the Optimal Business Model for Innovation''; (2824BC) ''The Orchestrator: Choosing the Optimal Business Model for Innovation''; (2825BC) ''The Licensor: Choosing the Optimal Business Model for Innovation''; (2826BC) ''Aligning: Fundamental to Achieving Payback''; (2827BC) ''Leading: Fundamental to Achieving Payback''; (2830BC) ''Taking Action: Making Innovation Pay''.
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Abstract

For almost every company, the greatest challenge of innovation is not a lack of ideas but rather, successfully managing innovation so that it delivers the required payback, or return on the company''s investment of money, time, and people. This chapter introduces the concept of payback and summarizes three innovation business models and what it takes to align and lead for payback. May be used with: (2821BC) ''The Indirect Benefits of Innovation: Making Innovation Pay''; (2820BC) ''Cash and Cash Traps: Making Innovation Pay''; (2822BC) ''The Integrator: Choosing the Optimal Business Model for Innovation''; (2824BC) ''The Orchestrator: Choosing the Optimal Business Model for Innovation''; (2825BC) ''The Licensor: Choosing the Optimal Business Model for Innovation''; (2826BC) ''Aligning: Fundamental to Achieving Payback''; (2827BC) ''Leading: Fundamental to Achieving Payback''; (2830BC) ''Taking Action: Making Innovation Pay''.

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