Innovation is high on the executive agenda in virtually every industry because companies can no longer develop markets and access them without innovation. Dues to the dynamics of over a billion new customers, mostly in emerging markets, radical new technologies and science and global connectivity, our decade will be the most innovative time since the industrial revolution. There is no time to lose as the increasing democratic standards in Central and Eastern Europe (CEE) and the ongoing globalization have already led to a new wave of M&A activities. The main question is: What must an enterprise do to stay in the market and even become more successful? Imitation and adaptation are only a possibility in the short run for a special type of company. Finally, Central and Eastern European countries face the challenge of not only responding to developments initiated elsewhere, but also of playing a more active and creative role in initiating change. Through this book, PwC CEE will show you that innovation success is possible. Just do it!
Mike Kunbena has been born and raised in the US. The Chief Executive Officer of PwC Central & Eastern Europe spent most of his professional life in the US. After the opening of the Iron Curtain, he went to Central & Eastern Europe where he serves clients from the Moscow and later on Prague office. His focus is on tax issues. Mark Okes-Voysey is from the UK where he also received his education. He worked for PwC internationally including Spain, the UK, USA and Mexico. His focus has been Mergers & Acquisitions. At the outset of the political and economic change in Eastern Europe, he went to Russia where his is CEE Advisory Regional Leader at PwC. Andrej Vizjak is Slovenian born. He studied and worked as a management consultant in Germany for more than 30 years. At PwC he became Consulting Leader South East Europe and last year he was also assigned Innovation Leader in EEC. He has written many management books, the last one was Success Formulas for the New Decade .
List of Figures 9 Preface 11 Introduction: Innovation is not unknown, but a systematic approach is lacking in Central and Eastern Europe 13 Size does not matter 15 In CEE the clocks are ticking at a different pace 19 Innovation is not just an easy way out of a crisis 23 Innovation performance catches up, slowly but surely 27 Why innovation is so hard 28 Outlook: How CEE can get to the top 33 1 PwC Success Formulas: What needs to be done first? 35 Innovations and consolidation influence each other 38 Which winner type are you? 45 Best practice examples prove the power of innovativeness 55 2 Innovation Concept: A must... made operational through rigorous day-to-day management 63 Screening of trends get a picture of the future 68 Idea generation the fuzzy front end of product development 75 Idea selection: Choosing between creativity and impact 89 Product development from embedded ideas to embodied products 91 Product testing: Recognizing the limits 93 Product introduction ready to reap the credits 95 3 Collaboration: Partnerships and alliances multiply innovation capacities 97 Coopetition more than a temporary trend 103 Changing the subject: R&D cooperation with science partners 105 Success factors for both sides of the network 113 The PwC global network 115 4 Talent: People must commit themselves and need to be empowered 121 Innovation: An overall company effort 124 The Fantastic Five are better than a single superman 128 Case study ADRIA MOBIL: Continuity of talent management is what counts 132 Now is the time to start creating tomorrow s company 135 Engaging key talents in innovation processes 137 5 Leadership: Ongoing top management involvement and example setting makes a company a strong innovator 141 Russian case studies: New systematic innovation processes a question of leadership 142 Cases studies of global PwC best practices: 160 How to create innovative leadership 167 From employment to entrepreneurship 168 Topmanagement has to be on board 170 Creativity is the infinite source of innovation 171 Lifelong learning is a must 172 Most common blockades 173 PwC PowerPitch 174 6 Commercialization: Be first in the market with your innovations and differentiate 177 Product life cycle concept 179 Access the market with respect to different customer groups 184 Segments of innovation adopters during the product life cycle 189 Acceptance via contagion 191 Reach the customer by communication 194 Develop commercialization capability 197 Influences on product life cycle 200 7 Outlook: How CEE can get to the top 203 Bibliography 209 The Authors 215 Contributors of individual case studies 216
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