Review by Choice Review
The authors have a clear goal for this book, and they achieve it. They seek to bridge the gap between what academics "know" about innovation and what managers and other "practitioners" want to know, which is how to value those innovations in monetary terms. In place of the simple heuristics employed in most such analyses, the authors make the concepts, frameworks, and models of the academic literature approachable for a "business-minded" audience. Managers and investors both benefit from improved ability to assess "the commercial fate of innovations." The authors combine their understanding of "innovation diffusion" with that of the "customer lifetime model," and the result is their construct of "innovation equity," the monetary valuation of new products and services. The book is well written, full of examples, and the authors make a point of helping the reader adapt their material to various real-world contexts. An appendix is provided for the mathematically inclined, and there is an excellent companion website. This book provides insight about how to manage and optimize the value creation that results from innovation. Summing Up: Recommended. Upper-division undergraduates through faculty. --Mary H. Lesser, Lenoir-Rhyne University
Copyright American Library Association, used with permission.
Review by Choice Review
