- Research Feature
- Read Time: 22 min
Relationships with academic institution scan play an important role in continuing to generate new value for shareholders if you know how to approach those relationships.
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Smartly placed, legitimizing constraints actually enable innovation by focusing it and giving it traction in the competition for corporate attention and resources.
Companies undertake venturing for a variety of reasons. To be successful, they must be clear about their objectives and disciplined in executing the one of four business models most appropriate to achieving them.
Some companies are better off making incremental improvements to their products. Others that must compete on their ability to innovate focus on breakthrough inventions. Either approach requires the exploration of a specific type of “technology landscape” and the right strategy for searching across the terrain.
Sometimes large-scale operational efficiencies can mask opportunities. In their research, the authors found that small-scale operations provide significant advantages in four areas. Using case studies, the authors illustrate how companies in a wide variety of industries have found the hidden benefits of small-scale approaches, concluding that executives who learn when it is better to think small can have a potentially huge impact on their companies‘ long-term success.
The product-development process is often seen as an undependable “black box” that rarely produces results that exceed business expectations. With an approach called “net present value, risk-adjusted,” the author offers an operational framework of quantitative tools that can be integrated into existing stage-gate methodologies to create a risk-adjusted NPV that considers the impacts of product portfolio, user needs, and technical and marketing risks.
A company’s interaction with the scientific community is crucial to its ability to incubate and commercialize new ideas.
A survey of high-tech companies reveals which techniques get R&D and marketing departments to share vital information with each other.
Strategic failure usually comes from an inability to make clear choices on which customers to target, what products to offer, and how to improve efficiency. Incumbents routinely bow to upstarts that innovate in those areas. The author shows established companies how to prepare for and counter such disruption with a dynamic process of continual strategic renewal.
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