MIT Sloan Management Review

Technology has always been about hope. Since the beginning of the industrial revolution, businesses have embraced new technologies enthusiastically, and their optimism has been rewarded with improved processes, lower costs and reduced workforces.

At many companies, intellectual property has become an area of focus. Research shows that top-management involvement in IP strategy is associated with better IP performance.

Companies have four ways of building businesses from within their organizations. Each approach provides certain benefits — and raises specific challenges.

Clashes between bottom line-oriented managers (stewards) and creative technical employees (creators) may be inevitable. But when those conflicts aren’t managed well, a company’s ability to innovate may be at risk.

When a behind-the-scenes decision must be “downloaded” to employees, the way it is communicated has a lot to do with its acceptance and eventual success or failure.

The conventional wisdom in government, academia and much of industry is that companies are choosing to close their costly domestic operations in favor of better prospects and profits in other countries. While it is certainly true that U.S.

A study of Nokia’s venturing program revealed eight important lessons that can help companies benefit from their investments in new ventures.

Effective product returns strategies and programs can result in increased revenues, lower costs, improved profitability and enhanced levels of customer service.

Despite its potential, few managers have begun even to scratch the surface of information about intangibles and the opportunity it offers.

Few companies understand how such innovation occurs — and how to encourage it. To foster new management ideas and techniques, companies first need to understand the four typical stages in the management innovation process.

Managing change does not mean dealing with chaos. In fact, continuous change is a predictable cycle with four phases, each requiring certain resources and a specific type of champion.

To manage research and development projects, companies need to ensure that informal social networks are reinforced — and not thwarted — by formal organizational structures.

Companies with a restricted view of innovation can miss opportunities. A new framework called the “innovation radar” helps avoid that.

Companies should evaluate an outsourced process on several dimensions and then tailor the contract accordingly.

In volatile and uncertain environments, managers must encourage and enable the spurts of participatory innovation that lead to emergent processes and solutions.

By sharing insights and perspectives with a group of noncompeting peers from other regions, managers can stay abreast of industry trends and combat complacency.

For many companies, incremental growth is not sufficient. The changing business landscape is forcing corporate leaders to learn how to reposition their businesses more fundamentally.

Global sourcing is an increasingly popular business strategy, but it’s not easy to execute. There are seven typical characteristics of organizations with outstanding global sourcing.

The purchasing function can go beyond mere cost cutting by rote. It can add value by driving innovation and superior long-term cost performance.

Successful outsourcing of back-office business functions requires knowing not only your company’s needs but also the 12 core capabilities that are key criteria for screening suppliers.