Innovation

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How to Manage Alliances Strategically

  • Research Feature
  • Read Time: 19 min 

Companies that lack the resources and knowledge to undertake key strategic growth initiatives often seek partners who can fill in the gaps. The skills that make such alliances work, however, aren’t well understood; executives often make flawed assumptions that prevent the partnership from achieving its goals. An integrative, holistic framework for alliance management helps executives avoid these pitfalls and create value via strategic alliances.

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The 2016 Richard Beckhard Memorial Prize

  • Research Highlight
  • Read Time: 2 min 

This year’s winning article is “Accelerating Projects by Encouraging Help,” by Fabian J. Sting, Christoph H. Loch, and Dirk Stempfhuber. The authors examine project planning and execution challenges and describe a case study of a company that designed a help process to encourage workers to seek and provide mutual assistance. The Beckhard Prize is awarded annually to the authors of the most outstanding MIT SMR article on planned change and organizational development.

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Navigating the Leadership Challenges of Innovation Ecosystems

Certain kinds of product or process creations involve not just one player but many to ensure success. Organizations working toward this kind of innovation need to think about the project’s innovation ecosystem, which includes identifying co-innovators, structuring project leadership, and potentially modifying how success is defined. “All these things need to be negotiated within the coalition” notes Ron Adner of the Tuck School of Business — a process that’s often under-appreciated or ignored.

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When Innovation Meets the Language of the Corner Office

  • Blog
  • Read Time: 5 min 

Effectively communicating the innovation journey and output to executives requires translation. While innovation processes are becoming more widely used across organizations, they are not always fully embraced at the executive level. Innovationists need to become bilingual — able to present in the style that strategy consulting firms use when making formal recommendations and updates. When speaking to executives, innovation leaders should make sure they are not only heard, but understood.

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How to Succeed with Radical Innovation

  • Interview
  • Read Time: 8 min 

New research by J.P. Eggers of NYU’s Leonard N. Stern School of Business and Aseem Kaul of the University of Minnesota’s Carlson School of Management looks at how companies pursue radical invention and the success of those efforts. The researchers found that highly capable firms have much less motivation to take risks because they’re already so successful — but that they’re the ones most likely to succeed when they try to innovate.

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The Sustainable Tactics You Don’t Know, But Should

Businesses looking for sustainable business models need a strategy, but there are plenty of useful tactics available. As part of our series on building abundant enterprises, we look at regenerative marketing and collaborative exchange — just two in a list of 15 possibilities.

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Improving Analytics Capabilities Through Crowdsourcing

Analytics capabilities can greatly expand a company’s ability to innovate — but what do you do when the talent you need just isn’t available? Agribusiness giant Syngenta, faced with an insurmountable analytics talent bottleneck, turned to crowdsourcing. Using a series of contests, it outsourced the development of a set of award-winning analytics tools to improve its decision making — and learned, in the process, some key factors supporting successful crowdsourcing.

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Finding a Lower-Risk Path to High-Impact Innovations

Pursuing a high-impact innovation strategy can have terrific payoffs — but it’s also extremely risky, and most companies won’t do it. Yet a comparatively less risky, proactive approach that strings together “lily pads” of capability-building investments, technical and conceptual advances, and market explorations into “enabling innovations” can bring companies closer to their goal and provide a long-lasting competitive edge.

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Managing the Bots That Are Managing the Business

We are just at the beginning of the transformation from an economy dominated by human workers to one dominated by electronic workers. The great management challenge of the next few decades will be understanding how to get the best out of both humans and machines, and understanding the ins and outs of who manages whom.

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Managing Tensions Between New and Existing Business Models

Exploring new business models may be a good way to stay competitive, but doing so can create tensions internally, in areas such as organizational structure and competition for resources. Companies exploring business model innovation may not recognize the inevitability of these tensions and thus be poorly prepared to manage them. But understanding these issues may lessen some of the organizational challenges associated with business model innovation.

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Navigating the Patent Minefield Through Consortia

Bringing high-tech inventions built on patented technologies to market can be complicated and risky. The threat of added costs from patent infringement lawsuits has led technology companies to pool their talents — and patents — in technology consortia. Joining a tech consortium requires managers to weigh intellectual property value against the value of future collaborations and assess the consortium’s pros and cons for innovation, competition, and market creation.

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Foundations of Analytics Strategy

Competitive advantage from analytics is declining, according to the 2016 annual report about data and analytics by MIT Sloan Management Review. In this on-demand webinar, the authors of the report — Sam Ransbotham, an associate professor in information systems at Boston College and guest editor at MIT SMR; David Kiron, the executive editor of MIT SMR’s Big Ideas Initiative; and Pamela Kirk Prentice, the chief research officer at SAS Institute Inc. — discuss how analytically-sophisticated companies are managing to cultivate both innovation and competitive advantage with analytics.

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Leveraging Smart Data and Internet of Things to Realize Mass Customization

  • Research Highlight
  • Read Time: 1 min 

In an on-demand webinar, Wolfgang Gruel and Frank Piller detail new experiments in personal transportation. Gruel and Piller say that transportation customers are on the cusp of having seamless travel experiences that synchronize all transit options: schedules, traffic conditions, and personal preferences. But making this vision a reality requires knitting together previously independent systems — in part through smart data and the Internet of Things.

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