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Innovation Tournaments

Creating and Selecting Exceptional Opportunities

Christian Terwiesch and Karl Ulrich

Managers, entrepreneurs, and venture capitalists all seek to maximize the financial returns from innovation, and profits are driven largely by the quality of the opportunities they pursue. Based on a structured and process-driven approach this book demonstrates how to systematically identify exceptional opportunities for innovation.

An innovation tournament, just like its counterpart in sports, starts with a large number of candidates, with opportunities as the players. These opportunities are pitted against each other until only the exceptional survive.

This book provides a principled approach for the effective management of innovation tournaments – identifying a wealth of promising opportunities and then evaluating and filtering them intelligently for greatest profitability. With a set of practical tools for creating and identifying new opportunities, it guides the reader in evaluating and screening opportunities. The book demonstrates how to construct an innovation portfolio and how to align the innovation process with an organization’s competitive strategy.

Innovation Tournaments employs quirky, fresh examples ranging from movies to medical devices. The authors’ tool kit is built on their extensive research, their entrepreneurial backgrounds, and their teaching and consulting work with many highly innovative organizations.

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About the Authors

Christian Terwiesch

Christian Terwiesch is the Andrew M. Heller Professor at the Wharton School of the University of Pennsylvania. He is a Professor in Wharton’s Operations and Information Management department, co-director of Penn’s Mack Institute for Innovation Management, and also holds a faculty appointment in Penn’s Perelman School of Medicine. His research on Operations Management and on Innovation Management appears in many of the leading academic journals ranging from Management Science to More

Karl Ulrich

Karl T. Ulrich is Vice Dean of Entrepreneurship & Innovation and the CIBC Professor at the Wharton School of the University of Pennsylvania. He also holds an appointment as Professor of Mechanical Engineering. His research is focused on innovation, entrepreneurship, and product development. He is the co-author of Product Design and Development (6th Edition, McGraw-Hill, 2015), a textbook used by a quarter of a million students worldwide, and of Innovation Tournaments (Harva ... More

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