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Innovate!: How Great Companies Get Started in Terrible Times

ISBN: 978-0-470-56058-7
220 pages
May 2010
Innovate!: How Great Companies Get Started in Terrible Times (0470560584) cover image

Description

Learn the lessons of how great companies began in the worst economic times

Eli Lilly. IBM. Medtronic, Procter & Gamble. Hewlett-Packard and Marvel Entertainment. All great companies and all made their start during the worst economic times.

Innovate!: How Great Companies Get Started in Terrible Times is first and foremost a source of true inspiration based on history. But it goes much further than that. It captures the lessons of these great innovative individuals and companies that began in the worst economic times, identifying the philosohies, strategies, and essential keys to success during your own challenging economic times.

  • Provides a compass to navigate troubled economic waters though innovation
  • Explains the creative sources of innovation possessed by every individual
  • Harnesses the power of innovation of the individual and the organization

Innovate!: How Great Companies Get Started in Terrible Times shows you the strides you and your organization can take toward thriving in the worst of times. And it just might be your road map to building the next great American business success story.

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Table of Contents

Acknowledgments.

I Am, Therefore I Innovate.

Introduction.

Chapter 1: Recession.

Panic of 1797 (1797 - 1800).

Depression of 1807 (1807 - 1814).

Panic of 1819 (1819 - 1824).

Panic of 1837 (1837 - 1843).

Panic of 1857 (1857 - 1858).

The Long Depression (1873 - 1879).

Panic of 1893 (1893 - 1896).

Panic of 1907 (1907 - 1908).

Post–World War I Recession (1918 - 1922).

Recession of 1926 (1926 - 1927).

The Great Depression (1929 - 1939).

Post–World War II Recession (1945).

Late 1940s Recession (1948 - 1949).

Post–Korean War Recession (1953 - 1954).

Recession of 1957 (1957 - 1958).

Recession of 1960 (1960 - 1961).

Recession of 1969 (1969 - 1970).

Oil Crisis of 1973 (1973 - 1975).

Recession of 1980 (1980 - 1982).

Recession of 1990 (1990).

Recession of 2001 (2001).

Recession of 2008 (2008 - TBD).

Chapter 2: Perseverance: Thomas A. Edison, General Electric Company.

The Lesson: The Power of Curiosity.

The Lesson: The Power of Communication.

The Lesson: Four Tips for a Successful Moonlighter.

Modern Parallel: Randy Copeland, Velocity Micro.

The Lesson: Go to Where the Business Is.

The Lesson: Create Your Own Luck.

The Lesson: The Power of Competition.

The Lesson: The Power of Incorporating.

Chapter 3: Pain: Walt Disney, Laugh-O-Gram Films.

The Lesson: The Power of Patience.

The Lesson: The Power of a Name.

Modern Parallel: Joe Jacobson, E Ink Corporation.

The Lesson: The Power of Branding.

Chapter 4: Intuition: Steve Jobs, Apple Inc.

The Lesson: The Power of Employees Who Believe.

The Lesson: The Power of Negotiation.

Modern Parallel: Dr. James Andrews, Andrews Sports Medicine and Orthopaedic Center.

The Lesson: The Power of Design.

The Lesson: The Power of Face Time.

The Lesson: What Kind of Company Are You?

Chapter 5: Simplicity: Robert W. Johnson, Johnson & Johnson.

The Lesson: The Power of a Copywriter.

The Lesson: The Power of Learning the Ropes.

The Lesson: The Power of Creating a Social Norm.

The Lesson: The Power of Managing Disaster.

Modern Parallels: Simple Problems, Simple Solutions, Simple Products.

Chapter 6: Failure: Milton S. Hershey, The Hershey Company.

The Lesson: The Power of Quitting School.

The Lesson: The Power of Asking for Help.

The Lesson: The Power of Rejection.

The Lesson: The Power of a Single Customer.

The Lesson: The Power of Scalability.

Modern Parallel: Brian Wellinghoff, Barry-Wehmiller.

The Lesson: The Fallacy of "It'll Sell Itself ".

The Lesson: The Power of R&D.

Chapter 7: Faith: Mary Kay Ash, Mary Kay Cosmetics.

The Lesson: Innovation Is About More than Just a Product.

The Lesson: The Power of Sharing Your Passion . . . with Everyone.

Modern Parallel: Adam Smith, Twitter Community Choreography (Dance Theater Workshop).

The Lesson: The Power of Incentives.

The Lesson: The Power of Keeping the Faith during Uphill Battles.

Chapter 8: Insignifi cance: Dr. Lonnie Johnson, Super Soaker (Hasbro).

The Lesson: The Power of Impracticality.

The Lesson: The Power of Organic Design.

Modern Parallel: Patrick Lockley, Six by Six Gallery.

Chapter 9: Paradox: Jack Crawford Taylor, Enterprise Rent-A-Car.

The Lesson: Helping People at the Point of Need.

The Lesson: How to Keep Employees in Tough Times.

The Lesson: The Power of Not Franchising.

Modern Parallel: Robin Sloan, Robin Writes a Book (via Kickstarter).

The Lesson: Dictate Growth Based on Your Employees.

The Lesson: Becoming Recession-Proof.

Chapter 10: Luck: William Procter and James Gamble, Procter & Gamble.

The Lesson: The Power of Location, Location, Location.

The Lesson: The Power of a Logo.

Modern Parallel: Alma M. Lugtu, cover my bum.

The Lesson: The Power of Bark and Bite.

The Lesson: The Power of Employee Loyalty.

The Lesson: The Power of Foresight.

The Lesson: The Power of Divergent Revenue Streams.

The Lesson: The Power of Academic Collaboration.

Chapter 11: Greed: Joe Cassano, AIG.

Chapter 12: Integrity: George Foreman, Salton Company.

Modern Parallel: Tom Phillips, Weekends Only.

Chapter 13: The Innovation Generation.

Untying Knots.

Illustrative Communication.

Connecting the Dots.

Simplifying Complexities.

Chapter 14: The Sandbox Universe.

Integrity.

Inspiration.

Imagination.

Innovation Development.

Industrialization.

The Sandbox Universe at St. Louis University: A Case Study.

Epilogue: The Power of the Bayh-Dole Act.

Notes.

About the Author.

Index.

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Author Information

Thomas A. Meyer, MBA, CLP, is the Chief Innovation Officer of St. Louis University. Meyer's career in innovation management spans more than thirty years. He created the Domestic and International Intellectual Property Office at Anheuser-Busch, Inc., in 1980. He coauthored the pioneering book on intellectual property management, An Executive's Complete Guide to Licensing, in 1988. For more than twenty years, Meyer has consulted for many Fortune 500 and privately owned companies in the areas of licensing, franchising, new product development, and marketing. A partial list of clients includes Coca-Cola, Times Mirror Company, Ralston Purina, and CBS Radio and TV.
Meyer is also an accomplished entrepreneur who has founded four successful companies in the manufacturing, retail, and services industries. He has been responsible for developing some of the first sustainable products including the first 100% recycled plastic bottle in 1991 and the first bio-based automotive commodity chemicals in 1994. Meyer's new professional passion is building bridges between industry and universities to ensure America's innovation leadership in the world.
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Press Release

May 10, 2010
INNOVATE! How Great Companies Get Started in Terrible Times

During the economic upheavals of the late 1800s, the Great Depression, and the Oil Crisis and Market Crash in the 1970s, one thing has been constant... the start-up of groundbreaking technologies and companies that became business icons. Eli Lilly IBM, Procter & Gamble, Hewlett-Packard and Marvel Entertainment are all great companies and they all made their start during the worst economic times. INNOVATE!: HOW GREAT COMPANIES GET STARTED IN TERRIBLE TIMES (John Wiley & Sons; May 2010; $34.95) captures the lessons of these great innovative individuals and companies that began in the worst economic times, identifying the philosohies, strategies, and essential keys to success during today’s challenging economic times. This book is a source of true inspiration based on history.

Author Thomas Meyer shows readers that historically, economic recessions and depressions have been incredibly rich soil for improvement. The book limits the criteria for “great companies” to those that have continued operations or brand equity through 2009. This eliminates many great innovations, but nevertheless provides a substantial list of companies for the purposes of demonstrating the powers of innovation.  An inspiring book INNOVATE! reveals innovation as the catalytic generator that determines an organization's ability to compete in a volatile environment—and to possibly change the course of business history.  Inside, readers learn how great companies got their start during spectacularly difficult economic slumps, and are all still in business, including:

  • Procter & Gamble in business since the Economic Panic of 1837
  • Barnes & Noble’s doors opened in the midst of the Long Depression of 1873–1879
  • Hershey's satisfying the nation's sweet tooth since the Economic Panic of 1893
  • General Foods, Texas Instruments, Mobil, Tyson Foods, Krispy Kreme, and Sara Lee Corporation all took off during the Great Depression, despite a 17% unemployment  
  • Baskin-Robbins, Cantor Fitzgerald, and Mattel all got their start during the Post–World War II Recession
  • Applebee's and Olive Garden restaurant chains served up success in spite of the economic turmoil of the 1980 Recession and a 10% unemployment rate

Readers will quickly learn that tough times are no match for innovation. INNOVATE! discloses innovation as the momentum that sets the course for an organization to keep swimming in rough waters and emerge a champion.  This book is essential reading for a large number of individual and groups that are currently looking for help in fighting through difficult economic times.  

ABOUT THE AUTHOR:

Thomas A. Meyer, MBA, CLP, (St. Louis MO), is the Chief Innovation Officer of St. Louis University. Meyer’s career in innovation management spans more than thirty years. He created the Domestic and International Intellectual Property Office at Anheuser-Busch, Inc., in 1980. He coauthored the pioneering book on intellectual property management, An Executive’s Complete Guide to Licensing, in 1988. For more than twenty years, Meyer has consulted for many Fortune 500 and privately owned companies in the areas of licensing, franchising, new product development, and marketing. A partial list of clients includes Coca-Cola, Times Mirror Company, Ralston Purina, and CBS Radio and TV. Meyer is also an accomplished entrepreneur who has founded four successful companies in the manufacturing, retail, and services industries. He has been responsible for developing some of the first sustainable products including the first 100% recycled plastic bottle in 1991 and the first bio-based automotive commodity chemicals in 1994. Meyer’s new professional passion is building bridges between industry and universities to ensure America’s innovation leadership in the world. 

INNVOVATE!

How Great Companies Get Started in Terrible Times

Published by John Wiley & Sons, Inc.

Publication date: May 10, 2010

$34.95; Hardcover; 220 pages; ISBN: 978-0-470-56058-7

  

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