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This study provides an approach to the microeconomics of innovation by measuring the technical quality of new products and guiding the managers of innovation and technology in the central considerations of today's knowledge-based companies. The volume features a selection of practical microeconomic tools for managing new product development and innovation. By quantifying product features and evaluating the costs and market value of improving each, a simple yet powerful conceptual framework is created. Using this framework, creative business models can be built, along with innovative products, services and processes that achieve marketplace success.
This study provides an approach to the microeconomics of innovation by measuring the technical quality of new products and guiding the managers of innovation and technology in the central considerations of today's knowledge-based companies. The volume features a selection of practical microeconomic tools for managing new product development and innovation. By quantifying product features and evaluating the costs and market value of improving each, a simple yet powerful conceptual framework is created. Using this framework, creative business models can be built, along with innovative products, services and processes that achieve marketplace success.
Contents: Introduction: A Feature-Based Approach to Innovation Part I: Tools for Decisions Part II: Linking Innovation and Performance Part III: Quantifying Innovation in Selected Markets Conclusion: How to Build a Successful Business Model References Index
The late Hariolf Grupp, formerly Deputy Director, Fraunhofer Institute for Systems and Innovation Research (FhG-ISI), Karlsruhe, Germany and Professor, Faculty of Economics and Management, Universität Karlsruhe (TH), Germany and Shlomo Maital, Academic Director, TIM-Tel Aviv, Israel and Senior Researcher, S. Neaman Institute for Advanced Studies in Science and Technology, Technion, Haifa, Israel
'. . . the recent volume by Professors Hariolf Grupp and Shlomo
Maital is a masterpiece, a book that may appear once in a
generation. Only the quest for creativity brings scholars like them
to work each day. . . The volume is an essential reading for both
practitioners and academics. Hariolf Grupp and Shlomo Maital have
delighted us with a long-awaited and formidable intellectually
strong book that properly addresses the thorny issues of the
economics of innovation in a new millennium. The volume is very
well written. It is concise, well organized, with a clear flow of
arguments and facts, leading to clearly stated conclusions. Each
chapter includes an adequate self-contained summary. In each
chapter we usually find a quantitative model that deals with the
issues posed, but these models are not an obstacle for someone less
mathematically savvy; on the contrary, the analysis is accessible
to the general reader. The conclusions are substantive, follow from
the analyses, and offer remarkable insights. Most important though,
the volume recently published by Professors Hariolf Grupp and
Shlomo Maital invites us to embark on a spiritual journey. A
journey in which human creativity plays a crucial role, by building
and employing in various contexts a metrics of technological and
productivity change. It is hard to think of a more exciting and
worthwhile topic in applied economics.'
*Luigi Toma, Technological Forecasting and Social Change*
'The authors' methods of evaluating innovations are original and
are of interest to people in business and management studies as
well as economics. They are also useful to people in industry,
especially the chapter on "benchmarking", brand names and building
business models.'
*Christopher Freeman, SPRU - Science and Technology Policy
Research, University of Sussex, UK and Maastricht University, The
Netherlands*
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