| name | The Truth About Innovation |
|---|---|
| orig title | |
| translator | |
| image |  |
| author | Max Mckeown |
| cover_artist | |
| country | United Kingdom |
| language | English |
| series | |
| classification | Non-Fiction |
| genre | |
| publisher | Prentice Hall |
| release_date | 2008 |
| media_type | Print (Paperback) |
| pages | 264 |
| isbn | ISBN-10: 0273719122 (first edition) |
| preceded_by | |
| followed_by |
Executive Summary
Max Mckeown, an influential management consultant, further established his credibility with his sixth book, the comprehensive, practical, and readableThe Truth About Innovation, published in 2008.
Mckeown explains 55 truths, or principles, about innovation that are drawn from the body of research and the experience he has of working with large organisations that are attempting to innovate.
Chapter Summaries
Truth 01: Innovation is new stuff that is (made) useful
Mckeown defines innovation as new stuff that is made useful. This definition leads to two questions “how new is new?” and “useful for whom?”. He distinguishs between ideas, insights, inventions, and innovations. He categorises the newness of innovation from incremental, radical, and revolutionary. He makes a distinction between innovation that is independent and that which is dependent – concluding that most innovation is dependent on other ideas, innovations, and inventions. He argues that the user determines how useful an innovation is and that human kind ‘make’ innovations useful through adaptation.
Truth 02: A beautiful idea is never perfect
Mckeown uses the examples of Target, Walmart, and K-Mart to argue that a beautiful idea is never perfect. All these companies were founded in the same year with the same idea – discount retailing. However each one has prospered at different times by improving upon the implementation and conceptualisation of the idea. K-Mart did time-limited bargains, Walmart did everyday low prices, while Target asks it’s customers to pay less while expecting more.
Truth 03: A crisis is a terrible thing to waste
Crisis creates urgency that can be used to encourage action and help people out of their complacency. Those leaders that use external crises to promote innovation and those that can emphasis a sense of urgency will be more likely to overcome the barriers to innovation. Examples from Samsung are given in which the CEO time-limits product go-to-market times in order to heighten creativity. Examples also given of Intel’s paranoia with it’s strengths and weaknesses.
Truth 04: A great innovation deserves a great name
Truth 05: A fool can do either, a genius does both
Truth 06: All new ideas are made of old ideas
Truth 07: Bet small to win big
Truth 08: Better to ask forgiveness than permission
Truth 09: Creativity is a process not an action
Truth 10: Creativity is its own reward
Truth 11: Crowds are mad, bad,and advantageous to know
Truth 12: Cut innovation some slack
Truth 13: Cure apathy by sharing purpose
Truth 14: Do what your competition wont
Truth 15: Don’t get lost in translation
Truth 16: Different structural strokes for different folks
Truth 17: Even useless can be useful
Truth 18: Every company needs an idea market
Truth 19: Everyone can learn to think better
Truth 20: Find the buzz that can work for your people
Truth 21: Free your children before someone eats them
Truth 22: Get your ducks in a row
Truth 23: Got to share to get more
Truth 24: Hell hath no fury like a talent spurned
Truth 25: Hire for how they learn, not what they know
Truth 26: How much is the future worth?
Truth 27: Ideas are fragile, handle with care
Truth 28: Innovate your way out of recession
Truth 29: Innovation can be measured
Truth 30: Innovation is not everywhere
Truth 31: It’s a cultural thing
Truth 32: Just enough disunity for progress
Truth 33: Leaders get the innovation they deserve
Truth 34: Little differences make a big difference
Truth 35: Look outside for a bigger brain
Truth 36: Madonna knows more than your boss
Truth 37: Meeting of minds not mindless meetings
Truth 38: Most things will fail, get over it
Truth 39: Not all networks are created equal
Truth 40: Open spaces, open minds
Truth 41: People judge your first, then your ideas
Truth 42: Power is originality’s best friend
Truth 43: Quick fixes can lead to great innovations
Truth 44: Reinventing the wheel is a good thing
Truth 45: Second can be better than first
Truth 46: Some ideas are easier to swallow
Truth 47: Sometimes you have to gamble everything
Truth 48: Success is an S-shaped curve
Truth 49: The ideal design is the simplest design
Truth 50: This is going to hurt
Truth 51: Understand change to make progress
Truth 52: Welcome to the innovation factory
Truth 53: What you know can hurt you
Truth 54: Who the hell cares where it was built
Truth 55: You can’t control waves so learn to surf!
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