MIT Sloan Management Review

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

Revolutions, whether the overthrow of governments or breakthroughs in technology, are usually visible. The knowledge revolution, though propelled by the twin engines of computer technology and communication technology, is a revolution of minds and ideas rather than of mass and energy.

The Internet promises to revolutionize the dynamics of international commerce and, like the telephone and fax machine, may be a major force in the democratization of capitalism.

The authors track a strategic decision in a Fortune 500 corporation, identify political obstacles that overshadowed the process, and highlight turning points in the strategy’s direction. The unfolding Techno story provides a close look at the implications for organizing team-based processes and managing the politics of technological change.