Entrepreneurship and Innovation: Global Insights from 24 Leaders Edited by James C. Barrood SILBERMAN COLLEGE OF BUSINESS FAIRLEIGH DICKINSON UNIVERSITY Copyright © 2010 Rothman Institute of Entrepreneurship Editor: James C. Barrood Copy Editor: Brian Moran Production & Design: Mahesh Nair Rothman Institute of Entrepreneurship Silberman College of Business Fairleigh Dickinson University Contents INTRODUCTION. ................................................................................ 1 CHAPTER 1. ........................................................................................ 3 Innovative Leadership in Growing Companies John Bailye, EKR Therapeutics, Dendrite International CHAPTER 2 . ....................................................................................... 7 The Path to Entrepreneurship: Seven Rules for Business Success Maxine Ballen, New Jersey Technology Council CHAPTER 3. ...................................................................................... 13 Plan to Succeed Reginald Best, ProtonMedia, Netilla Networks CHAPTER 4. ...................................................................................... 17 The Thrills and Chills of Building a High- Tech Company Kenneth Burkhardt, Verbier Ventures, Dialogic CHAPTER 5. ...................................................................................... 25 The Evolution of an Innovative Business Unit Charles Cascio, Educational Testing Service CHAPTER 6. ...................................................................................... 31 Disruptive Innovation Clayton Christensen, Harvard Business School; Michael Horn, Innosight Institute CHAPTER 7. ...................................................................................... 43 Mission Driven Innovation Douglas Conant, Campbell Soup Company CHAPTER 8. ...................................................................................... 49 Extraordinary Measures John Crowley, Amicus Therapeutics, Inc. CHAPTER 9. ...................................................................................... 59 Leveraging Collaboration for Innovation Carlos Dominguez, Cisco CHAPTER 10 ..................................................................................... 65 Building Innovative Partnerships to Heal the World Amir Dossal, United Nations CHAPTER 11 ..................................................................................... 71 Entrepreneurship at Any Age Doris Drucker, Inventor and Author CHAPTER 12 ..................................................................................... 77 Securing Relationships One at a Time Kurus Elavia, Gateway Group One CHAPTER 13 ..................................................................................... 85 How I Quit Treading Water and Learned to Swim Seth Gerszberg, Marc Ecko Enterprises CHAPTER 14 ..................................................................................... 93 Nurturing Innovation in Small Businesses Leonard Green, The Green Group CHAPTER 15 ................................................................................... 103 Customer Focus – A Prescription for Driving Innovation Fred Hassan, Warburg Pincus, Schering-Plough CHAPTER 16 ................................................................................... 113 Innovation at Avon Andrea Jung, Avon CHAPTER 17 ................................................................................... 121 Branding for Success Shau-wai Lam, DCH Auto Group CHAPTER 18 ................................................................................... 129 Creating a Business from Scratch Diahann Lassus, Lassus Wherley CHAPTER 19 ................................................................................... 135 Social Entrepreneurship: Doing Good While Doing Well Lillian Rodríguez López, Hispanic Federation CHAPTER 20 ................................................................................... 141 Justice and Social Entrepreneurship Ralph Nader, Consumer advocate CHAPTER 21 ................................................................................... 149 Buying and Selling Entrepreneurial Companies Gregory Olsen, GHO Ventures CHAPTER 22 ................................................................................... 155 The Story Behind SwitchFlops Lindsay Phillips, SwitchFlops, Inc. CHAPTER 23 ................................................................................... 161 Building Merck’s Future through Open Innovation Mervyn Turner, Merck CHAPTER 24 ................................................................................... 167 The Eight Golden Rules of Entrepreneurship Peter Weedfald, Gen One Ventures, Circuit City ABOUT THE EDITOR. ..................................................................... 173