The author presents a compelling look at how innovation transforms industries, raising the fortunes of some firms while destroying others. The book draws on the rich history of innovation by inventors and entrepreneurs--ranging from the birth of typewriters to the emergence of personal computers, gas lamps to fluorescent lighting, George Eastman's amateur photography to electronic imaging--to develop a practical model for how innovation enters an industry, how mainstream firms typically respond, and how--over time--new and old players wrestle for dominance. Utterback asserts that existing organizations must consistently abandon past success and embrace innovation--even when it undermines their traditional strengths. He sets forth a strategy to do so, and identifies the responsibilities of managers to lead and focus that effort. Mastering the Dynamics of Innovation offers a pioneering model for how innovation unsettles industries and firms, and features fascinating histories of new product developments and strategies for nurturing innovation. "The most valuable book I've read in years. . . . The analysis is brilliant."--Tom Peters. Available August 1996.