From breakthrough to value creation : Mastering profitable discovery

Purpose – This article introduces a three‐part approach to improving the results of discovery programs. Design/methodology/approach – The authors studied successful R&D programs to determine the right elements of a process for discovery‐based innovation that improved the commercial focus of invention without disturbing the subtle creative dynamics of a successful research organization. Findings – The search led the authors to the following three‐part approach: run discovery as a separate business, not as part of a business; focus on the economics of the process, not of the project; focus on decision‐making effectiveness, not functional efficiency. Research limitations/implications – The financial impact of authors’ approach needs to be studied and validated. Practical implications – The authors’ approach provides managers with clear guidelines for structuring their research discovery programs. Originality/value – The authors’ approach contradicts much conventional thinking.