Innovation

Building a Business Creation Engine

  • Research Highlight

In this webinar, Clayton M. Christensen and Derek van Bever, coauthors of the MIT SMR article “The Hard Truth About Business Model Innovation,” explain how business models evolve over time. They explain that it’s possible to turn an event — the act of creating a new business and a new business model — into a repeatable process.

Three Meaningful Strategies for Managing Rapid Change

  • Blog
  • Read Time: 4 min 

Global, social, and marketplace shifts are doing much more to transform the nature of work, how we work, and how organizations in both the private and public sector can best adapt to rapid global change. So how can organizations find new ways to avoid becoming saddled with legacy processes, technologies, and ways of thinking?

Getting Past the Hype About 3-D Printing

  • Research Feature
  • Read Time: 2 min 

Despite the promise of additive manufacturing, the authors argue, near-term expectations about how 3-D printing will revolutionize manufacturing are overblown. Much of the technology is still being hammered out, and the authors examine three important myths about additive manufacturing.

Companies Brace for Decade of Disruption From AI

  • Blog
  • Read Time: 5 min 

With investments in Big Data bearing fruit, what do executives expect from the future? A new survey finds that artificial intelligence and machine learning are rapidly emerging avenues for innovation — and disruption. Nearly half of senior executives surveyed, from companies like American Express, Disney, Ford Motors, and General Electric, see disruptive change coming fast.

Free Webinar: Building a Business Creation Engine

  • Blog
  • Read Time: 1 min 

MIT SMR coauthors Clayton Christensen and Derek van Bever discussed their recent article, “The Hard Truth About Business Model Innovation.” They explained how understanding the stages of business model development is crucial to creating a successful process for repeated innovation.

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How to Monetize Your Data

  • Research Highlight
  • Read Time: 10 min 

Companies can monetize their data by improving internal business processes and decisions, wrapping information around core products and services, and selling information offerings to new and existing markets. Adopting any of these approaches, however, requires management commitment to specific organizational changes and targeted technology and data management upgrades.

Competing Through Joint Innovation

Even as multinationals struggle to make inroads in emerging markets, companies from those markets are finding ways to compete in Europe and the U.S. A case in point is Huawei, a Chinese telecommunications company, which has used strategic partnerships to gain ground in Europe. Huawei’s overseas expansion closely resembles the strategy the company used to build its position in China: Start at the perimeter and work toward the center.

The Next Wave of Business Models in Asia

The first wave of innovation from emerging markets in Asia has been predicated on the replication of existing business models at lower cost. The second wave, which could be even more disruptive than the first, fundamentally reimagines various facets of the business model to find new, often digitally enabled, ways in which resources and processes can be leveraged. Such companies identify creative ways for partners, stakeholders, and customers to be involved in value creation and capture.

Engaging With Startups in Emerging Markets

For large multinationals, forging effective partnerships with emerging-market startups is complicated. Traits that make startups attractive as partners also make it hard for large companies to engage with them. Looking at startups in India, China, and South Africa, researchers identify key factors inhibiting emerging market partnerships and offer strategies for addressing them.

Organizing for New Technologies

When faced with an emerging technology, many companies have trouble responding — not because they don’t recognize how it impacts their business, but because they have difficulty managing the uncertainty around the new technology’s competitive viability. And when the technology significantly disrupts the company’s existing business, it can create structural impediments to pursuing opportunities.

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Warding Off the Threat of Disruption

In a fast-changing digital landscape, companies shouldn’t wait too long to reconfigure their offerings — but they also should be wary of moving to an untested technology too soon. Monitoring trends in related industries and identifying high-potential startups for acquisition helps to ensure appropriate timing for business model changes.

Which Features Increase Customer Retention?

Companies have an incentive to design goods and services with customer retention in mind. Unfortunately, they often add expensive features to their offerings without knowing whether or how much they will increase retention — and adding too many features can actually decrease customer satisfaction with products after customers have used them.

Why Innovation Isn’t Enough

  • Blog
  • Read Time: 13 min 

There is an unprecedented explosion of innovation going on all around us. And yet, as Fredrik Erixon and Björn Weigel point out in their new book, The Innovation Illusion, GDP growth, productivity, and corporate investment in the capitalist economies of the West are all on the decline. The authors peg this counterintuitive reality to “gray capitalism, excessive corporate managerialism, second-generation globalization, and complex regulations.”

Why Big Data Isn’t Enough

There is a growing belief that sophisticated algorithms paired with big data will find relationships independent of any preconceived hypotheses. But in businesses that involve scientific research and technological innovation, this approach is misguided and potentially risky, as spurious correlations and “noise” may lead analysts astray.

Do You Have the Will for Digital Transformation?

Research shows that successful digital transformation does not require secret digital knowledge; it simply requires the boldness to recognize that digital transformation is occurring and to begin trying to adapt your business to account for and capitalize on these trends.

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Taking a Value-Chain Perspective on Innovation

Market leaders have many advantages when adopting new technologies such as e-business, but they don’t always make the move. Why? It’s partly because new technology can be leveraged along a chain of related companies only if business partners also make the leap to adopt these changes. And research reveals that when large companies are significantly concerned about customer adjustment costs of new innovations, these powerful and otherwise highly capable organizations often resist change.

The Hard Truth About Business Model Innovation

Attempts at business model innovation have led to both repeated failures as well as seemingly inexplicable successes — and few formulas to help guide business leaders. Yet a study of both failures and successes shows that the journey to successful innovation is predictable, although “travel time” differs by industry and circumstance. The manager’s dilemma is to identify whether the journey is one the company wants — or needs — to take.

Designing and Developing Analytics-Based Data Products

The combination of new analytical capabilities and burgeoning data assets are being used to form value-added “data products.” Such products have powered rapid growth in the value and success of online companies, but the expansion of analytics means the standard model for developing these products needs to evolve. An updated model needs to reflect new “time to market” expectations and input from a variety of stakeholders.

Unleashing Creativity With Digital Technology

In business, it’s costly to try something new, especially if it doesn’t work out. But in the digital era, technology can be deployed to augment the creative abilities of people and organizations. Today’s digital technologies have reached a level of maturation that enables cheap and rapid iteration to make new, invaluable forms of innovation possible.

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