Payback : Reaping the Rewards of Innovation

James P. Andrew is a senior vice president and director of The Boston Consulting Group.

He leads BCG's global efforts to articulate and improve how companies transform ideas into profits.

Harold L. Sirkin is senior vice president and director at The Boston Consulting Group and worldwide leader of their Global Operations practice. Andrew and Sirkin have worked with hundreds of executives and innovators, supported by the research and analysis efforts of a team of BCG consultants over several years.

Presented in lively and engaging prose, this well-written book boasts a straightforward and smart style.

It presents a fresh angle on "payback." The authors not only focus on cash payback but also show how companies can gain additional types of payback - such as knowledge, brands, and organizational culture. Andrew and Sirkin provide a rich array of examples from around the world, drawn from BCG's global work.

The book is not U.S.-centric. This book provides managers with practical ways to quantify their company's innovative pursuits.

Innovation (especially how to innovate profitably) is once more commanding the attention of executives and managers across all industries.