Innovation Strategy

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Developing Effective Intellectual Property Partnerships

All too often, companies from emerging and established economies talk past each other when discussing intellectual property. The result is that often fail to consider all their options for a productive collaboration. The authors detail five ways that companies can structure such IP partnerships, and say that it’s important for a company to choose the one that’s the best fit for the project: "The choice of IP business models is a strategic decision, not merely a legal matter."

Photo of LiquidSpace’s Jay Suites rental in New York City
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More Companies Are Cashing In on Underused Resources

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Companies can participate in “collaborative consumption” through creative new approaches to defining and reusing their resources. So write Kurt Matzler, Viktoria Veider and Wolfgang Kathan, all of University of Innsbruck. For instance, LiquidSpace, based in Palo Alto, California, connects organizations that have unused office space with temporarily renters. It has been called the “Airbnb of work spaces” and is extending the idea of sharing unused capacities to companies that aren’t totally built around the collaborative model.


Revamping Your Business Through Digital Transformation

Large companies in traditional industries might think that digital transformation can wait — that a follower strategy is a safer route than trying to be a pioneer. "That kind of thinking, while tempting, is wrong," write George Westerman and Didier Bonnet. "In every industry we studied, companies are doing exciting things with digital technology and getting impressive business benefits."


Mastering the ‘Name Your Product Category’ Game

When is the best time to enter a new industry? As it turns out, understanding the product category dynamics in an emerging industry and when a dominant category label has been introduced are important to identifying the “window of opportunity” to enter. Dominant category labels typically are introduced right before the industry starts a phase of rapid growth and consolidation. Companies would do well to track category labels before introducing a product in a nascent industry.

Image of Shanghai courtesy of Flickr user John Chandler.
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The Surprising Effectiveness of “Assembly Line” Innovation

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Unconventional approaches to innovation are speeding up new product development, making R&D faster and cheaper. In China, companies are embracing an industrialized approach to research that allows them to complete projects as much as two to five times faster than they did before. “These developments have potentially huge implications for how companies should think about global competition and whether they need to rethink and reengineer their established innovation and product development processes,” the authors write.


Procter & Gamble’s Connect + Develop open innovation program nurtures collaboration with individuals and companies globally to develop new ideas and products. Image from Procter & Gamble’s Connect + Develop video
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How Procter & Gamble Uses External Ideas For Internal Innovation

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Using its own version of open innovation called Connect + Develop, Procter & Gamble is now accessing externally developed intellectual property to accelerate internal innovation. Its Live Well Collaborative, for instance, was founded by Procter & Gamble and the University of Cincinnati with the goal of specializing in research and development of products and services for the 50+ market.

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The 2013 Richard Beckhard Memorial Prize

The editors of MIT Sloan Management Review announce the winners of the 2013 Richard Beckhard Memorial Prize, awarded to the authors of the most outstanding MIT SMR article on planned change and organizational development published from fall 2011 to summer 2012. The Winners: Eoin Whelan, Salvatore Parise, Jasper de Valk and Rick Aalbers, authors of “Creating Employee Networks That Deliver Open Innovation.”

Image courtesy of Flickr user kitroed.

Innovating in Uncertain Markets: 10 Lessons for Green Technologies

Lessons from the successes and failures of many emerging technologies offer a helpful guide in how adoption works. This article draws on the authors' book Wharton on Managing Emerging Technologies and their ongoing research at the Wharton School’s Mack Center for Technological Innovation about why companies so often misinterpret emerging technologies.


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The 5 Myths of Innovation

This article explores the process of innovation in 13 global companies. Many of the standard arguments for how to encourage innovation were confirmed, but some surprises were uncovered as well. The article organizes its key insights around five persistent “myths” that continue to haunt the innovation efforts of many companies. The five myths are: (1) The Eureka Moment; (2) Built It and They Will Come; (3) Open Innovation Is the Future; (4) Pay Is Paramount; and, (5) Bottom Up Innovation Is Best.

Courtesy of Novartis.

What Every CEO Needs to Know About Nonmarket Strategy

Nonmarket strategy recognizes that businesses are social and political beings, not just economic agents. Smart executives engage with their social and political environment, helping shape the rules of the game and reducing the risk of being hemmed in by external actors. These executives realize that in a global economy, sustained competitive advantage arises from tackling social, political and environmental issues as part of a corporate strategy — not just pursuing business as usual.

Image courtesy of Apple Inc.

A Business Plan? Or a Journey to Plan B?

From Apple to Twitter, some of the most successful businesses are not what their inventors originally envisioned. The Twitter story, in fact, is a powerful reminder that an entrepreneur’s main job is not to flawlessly execute the business idea so lovingly articulated in his or her business plan. It’s to embark on a learning journey that may or may not reach the destination originally envisioned. Instead, the company may end up at a more successful Plan B.


Courtesy of Volkswagen

Which Innovation Efforts Will Pay?

For many companies, developing new products is a hit-or-miss proposition. Some businesses with successful innovation practices are relying on a new analytic tool to ensure that the hits are much more likely.

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Developing an optimal innovation strategy

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If one innovation approach is helpful, you might think using more than one approach to innovation would be even more productive. Not necessarily, write Frank T. Rothaermel and Andrew M. Hess in the new issue of Business Insight, MIT Sloan Management Review’s collaboration with The Wall Street Journal.

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