Leadership Article 3 Page 11

going to be wonderful. But there’s a lot of promise and potential in this tool kit.” (Lerner, 2012)

There are four takeaways that Lerner conveyed in his book which I’d like to share with you, summarised as follows:

  1. Executives must rethink their R&D innovation funding strategy
  2. A Hybrid model is the best approach
  3. Innovation, Marketing, and Sales are co−dependent
  4. Governments must craft policies to fund and fuel innovation.

On policy, Lerner said: “you see this in Washington, in Europe, and in many developing nations. Their natural instinct is to throw money at innovation. But before they do that, they need to get the environment right.” Apple had an environment that Nokia lacked