Drawing on research and consulting experience with Coca-Cola, Bristol-Meyers Squibb, Daimler-Benz, 3M, and other companies, the authors argue that the key to improving research and development efforts and company performance rests not upon focusing solely on business processes, but upon changing the decision making process itself. A "smart organization" incorporates principles such as embracing uncertainty, disciplined decision making, value creation culture, and evaluating trade-offs to make appropriate choices about R&D planning, portfolio management, and product strategies. Annotation c. by Book News, Inc., Portland, Or.