In Webs of Innovation: The Networked Economy Demands New Ways to Innovate, the author discusses how businesses must find new ways to innovate while maintaining the core business that is already successful. For established companies to get involved in the new technologies, they must either acquire startups, introduce cooperatives efforts either partnering or investing in internal new departments, or uses corporate venture capital to invest in startups.
Established companies are striving to become dotcorps via networked innovation. Loudon explains how each method works, the advantages and drawbacks, and the many reasons for doing this.
The book is well organized, easy to read and follow. Key points are emphasized with questions at the end of each chapter, which provide a guide for companies dealing with innovation and new technology.
The book is also attractive to the reader – use of shades of gray, full-page statements of key points, which give the reader questions to consider. Case studies from Europe and the US provide actual examples of the different strategies and how they work. It focuses more on problem-solving than on the problems offering detailed methods for companies to organize for innovation.
While VC (venture capital) was the catchphrase of the late ‘90s, the authors explore the different types and ways of using VC. What companies did right. What companies did wrong.
The index lists all of the companies covered in the book to help the reader immediately find those that interest her. Boo.com’s failure is mentioned, of course, as a first-mover that did not become a prover. There are examples of everything including partnerships, buy-outs, corporate venture capital, B2C, B2B, and more.
While this book is aimed at companies and purports to be a road map to follow in pursuit of innovation and in preparation for what’s next on the Internet, it’s good reading for individuals interested in business tactics, in plotting change that keeps coming, and in investing in the companies that show the most creativity and openness to deal with the future.
Loudon reminds the reader that everything doesn’t happen overnight. While the Internet has become the wave of the future, its present is no yet what it was hoped for. Sound business practices, profitability, ability to attract and keep good employees still remain watchwords for success along with creativity and innovation.
VITAL STATISTICS:
TITLE: Webs of Innovation: The Networked Economy Demands New Ways to Innovate
AUTHORS: by Alexander Loudon
PUBLISHER: Prentice Hall
PUBLICATION DATE: January 2002
ISBN: 0273656465
FORMAT: Paperback
PAGES: 265
PRICE: US$27.00