Managing innovation: Lessons from the cardiac-pacing industry

In this article, the authors argue that innovation is a surefire way for a firm to increase its sales and market share. This, in turn, can stimulate American industries and make American firms more competitive in international markets. Through their study of the cardiac-pacing industry, they draw conclusions about what factors contribute to a successful innovation in other industries besides medical electronics. They identify general patterns and stages of the innovation process, key roles top management must fill in an organization, and effective policies that foster important innovations.