The Pursuit of Innovation: Managing the People and Processes That Turn New Ideas Into Profits The Pursuit of Innovation: Managing the People and Processes That Turn New Ideas Into Profits
By George Freedman
2005/03 - Beard Books
1587982528 - Paperback - Reprint -   368 pp.

A useful guide for implementing new ideas for increased revenues and profits.

Publisher Comments

Categories: Banking & Finance

This title is part of the Smart Management list.

Of Interest:

Corporate Venturing: Creating New Businesses Within the Firm 

This book provides fascinating and useful direction for "effective innovation" -- the timely and efficient implementation of new ideas that results in significantly increased revenues and profits. Divided into four parts, the author offers valuable insight to and action for achieving successful outcomes. This book belongs on the reading and reference shelves of every person engaged in innovative endeavors and those who are interested in business success.

From Rosabeth Moss Kanter, Professor, Harvard Business School:

George Freedman, a master of innovation himself, has written a masterful book. His hands-on experience with new product development gives special credibility to the wisdom and insights in The Pursuit of Innovation.

From Gifford Pinchot III, Chairman, Pinchot and Company:

The Pursuit of Innovation is clear, pragmatic, and written from the heart. Anyone interested in new products will find it filled with useful insights. Read it!

From Thomas C. MacAvoy, Vice Chairman, Corning:

A very practical guide...George Freedman is a seasoned veteran. He covers all of the important issues...

From Amazon:

The book describes real-world, tested, ways to manage Innovation for business growth. It also explains the scientific approach for an Innovation program which the author has arrived at with his long experience in this field. These include: 1)The Idea 2)The Innovation concept report 3)The Feasibility model 4)The Engineering or Functional model 5)The Visual model 6)The Prototype 7)The Pilot production unit.

The book also explains eight Innovation modes which include Innovation programs undertaken by the: Technical center Research Center New Products Center Captive R&D External Teams Internal Ventures Center External Ventures Center and Licensing Arrangements

The book however does not give any direct solution to a particular problem, but it certainly exposes the reader to the real-world examples of some of the top corporations. These examples help the reader to get an insight into the efforts put in the success of an Innovation program.


An excellent `Must read' book for all. Here one must realise that Innovation is an act of WILL. Doing it right against all odds. I think even non-conceivers can compensate for their lack of creative qualities by their WILL and that makes all the difference.

George Freedman has devoted most of his long and outstanding career to the development of new products. As Director of Raytheon's New Products Center for eighteen years, he organized innovative teams that produced an average of three new products a year. These were marketed in a wide variety of commercial marketplaces. Since 1993, he has been a principal of Invent Resources Inc., which "invents on demand." He is the author of three technical books and numerous articles. He has also served as editor-in-chief of the Journal of Microwave Power and as a technical editor of Solid State Technology. He holds thirty United States patents, with several additional ones pending.

Part 1. Organizing for Innovation 1
1 The Pursuit of Innovation: Goals and Options 3
2 Staffing 23
3 Providing Facilities and Funds 49
Part 2. Implementing the Creative Process 73
4 The Seven Steps to Innovation 75
5 Program Planning,  Budgeting, and Monitoring 106
6 Generating Patents and Know-How 128
7 The Impact Statement 137
Part 3. Company Policies--Company Support 143
8 How Can Management Facilitate Innovation? 145
9 Personnel Policies and Initiatives 172
10 Company Culture and the Executive Office 190
Part 4. The Eight Innovation Modes 203
11 The Nature of Innovation in U.S. Industry 205
12 Technical Center 224
13 Research Center 234
14 New Products Center 245
15 Captive R&D 257
16 External Teams 269
17 Internal Ventures Center 280
18 External Ventures Center 293
19 Licensing Arrangements 308
Appendix 1. Example of an Innovation Concept Report 321
Appendix 2. The Spencer Patent 329
Index 333

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