New businesses, especially in technology, are often driven by new inventions. Thus, they require an inordinate amount of attention to intellectual property (IP) issues. However, being a new business, these companies are often the ones least able to afford the advice of an IP expert or a patent attorney. Groups that identify a stated IP strategy are shown to be much more likely to attract investors’ interest. So IP is more about getting a business’…
As Gordon Torr shares, creativity is a driving force of modern economies and of civilization. While productivity remains important, only innovation can give a company or a society a let up on the other. Unfortunately, few people are highly creative – a trait that requires both talent and nurturing. Managing talent in a way that leads to productive results is its own challenge with its own nuance. Torr shares some thoughts that can advance good…
As technological development has increasingly driven the world economy, many observe that it causes a disruptive economic effect. New technology can humble big players and lift new players to leading positions. These effects often happen despite managers doing all the “right things.” We now have enough data to begin to analyze how technological disruptions happen across many industries. More importantly, we have data about how to manage innovation’s turbulence. In this classic text, Clayton Christensen…
A Chief Information Officer (CIO) is a relatively new addition to a modern business’s C-suite. However, despite being recent, in an era of digital innovation, it’s become an essential one. Instead of offloading work onto employees, most companies try to offload some of the work onto the IT department. IT specialists, the builders of technology, usually cannot meld their products into business-ready deliverables. That’s where the CIO comes in, to lead tech efforts towards a…
Empiricism and the scientific method have had some positive impact on the practice of business. Most people recognize the market as a great external object of study, yet scientific impact on innovation is usually limited and relegated to the domain of hunches by analytic experts. For their part, business schools tend to crank out expert planners and analysts, but do not expressly delve into experimentation. Schrage thinks that is a mistake and writes this book…
Research and development (known colloquially as R&D) is an inevitability of capitalist markets. New innovations usually outpace yesterday’s technologies. However, many R&D products fail to transition from development to the marketplace. In this work, Ramanujam and Tacke suggest that many of the failures can be avoided by proper management of pricing prior to the start of the project. In truth, this work is an in-depth look at how to set the price of an innovation.…