WE HAVE SEEN THE ENEMY, and it is us. The wild and sometimes euphoric ride on the dot-com bandwagon has ended, but the new economy hasn’t gone away. In fact, the rise and fall of the dotcoms emphasizes that effective management of innovation is becoming more essential as we embark on the next chapter of our unfolding economic development. Why the dot-com phenomenon occurred is important to future innovators, for the conditions under which the dot-com companies exploded—and imploded—will exist in the future. In addition to understanding the dot-com phenomenon, however, we need to think about the process of innovation itself and how it will change.
The basic Innovation Management Model we set out in Chapter 3