Book Review: The Architecture of Innovation: The Economics of Creative Organizations

Abstract: Josh Lerner in his book - Architecture of Innovation: The Economics of Creative Organizations explores the secrets of rising and falling of world top class corporations. These secrets are found to be embedded in understanding the art and architecture of innovation. The aim of presenting the book was to make it clearer to the ‘top executives, investors, or policy makers' that how organizations and nations can sustain a leading edge in a competitive market with understanding the art of living with innovation. Organizations can not only compete but can also lead globally if key contributors - scientists/inventors/engineers are enable to focus on their innovations to meet the needs of customers. He claims that effective policies which focusing on how to be innovative can make a difference in the business venture. To this end, organizations can attract and retain the best minds across the globe with ‘appropriate rewards', incentives, and can create a conducive working environment in their organizations.