Found 408 article(s) in category 'Innovation'

Yes, Sustainability Can Be a Strategy

Yes, Sustainability Can Be a Strategy. George Serafeim, February 11, 2019, Opinion, “In recent years, a growing number of companies around the world have voluntarily adopted and implemented a broad range of sustainability practices. The accelerating rate of adoption of these practices has also provoked a debate about the nature of sustainability and its long-term implications for organizations. Is the adoption of sustainability practices a form of strategic differentiation that can lead to superior financial performance? Or, is it a strategic necessity that can ensure corporate survival but not necessarily outperformance?Link

Tags: , , , ,

Establishing a Center of Excellence to Scale and Sustain Open Innovation

Establishing a Center of Excellence to Scale and Sustain Open Innovation. Karim Lakhani, February 7, 2019, Paper, “Organizations face many issues in scaling and sustaining successful pilot programs in open innovation. This paper describes a set of recommendations to accelerate these practices in order to develop a Center of Excellence (CoE) that can increase adoption. The experience of the Human Health and Performance Directorate (HH&P) at the NASA Johnson Space Center spanned more than seven years from initially learning about open innovation to the successful establishment of a CoE; this paper provides recommendations on how to decrease this timeline to three to four years. Organizations must anticipate success with initial pilot programs and conduct many future activities in parallel to achieve the recommended timeline. Simultaneously, organizations must develop strategies to overcome the internal resistance and cultural barriers to finding novel ideas and solutions to fully realize the potential of open innovation.Link

Tags: , , , , , , ,

How Big Companies Can Innovate Like Small Startups

How Big Companies Can Innovate Like Small Startups. Gary Pisano, January 30, 2019, Audio, “Gary Pisano, professor of business administration at Harvard, rejects the narrative that only scrappy startups are nimble enough to innovate. He believes large, established firms can adapt and evolve, but they have to go about it differently than their small-sized competitors.Link

Tags: , ,

Do Tax Cuts Produce More Einsteins? The Impact of Financial Incentives vs. Exposure to Innovation on the Supply of Inventors

Do Tax Cuts Produce More Einsteins? The Impact of Financial Incentives vs. Exposure to Innovation on the Supply of Inventors. Raj Chetty, January 2019, Paper, “Many countries provide financial incentives to spur innovation, ranging from tax incentives to research and development grants. In this paper, we study how such financial incentives affect individuals’ decisions to pursue careers in innovation. We _first present empirical evidence on inventors’ career trajectories and income distributions using de-identified data on 1.2 million inventors from patent records linked to tax records in the U.S. We find that the private returns to innovation are extremely skewed – with the top 1% of inventors collecting more than 22% of total inventors’ income – and are highly correlated with their social impact, as measured by citations. Inventors tend to have their most impactful innovations around age 40 and their incomes rise rapidly just before they have high-impact patents. We then build a stylized model of inventor career choice that matches these facts as well as recent evidence that childhood exposure to innovation plays a critical role in determining whether individuals become inventors.Link

Tags: , , , ,

From Immigrants to Robots: The Changing Locus of Substitutes for Workers

From Immigrants to Robots: The Changing Locus of Substitutes for Workers. George Borjas, Richard Freeman, January 2019, Paper, “Increased use of robots has roused concern about how robots and other new technologies change the world of work. Using numbers of robots shipped to primarily manufacturing industries as a supply shock to an industry labor market, we estimate that an additional robot reduces employment and wages in an industry by roughly as much as an additional 2 to 3 workers and by 3 to 4 workers in particular groups, which far exceed estimated effects of an additional immigrant on employment and wages. While the growth of robots in the 1996-2016 period of our data was too modest to be a major determinant of wages and employment, the estimated coefficients suggest that continued exponential growth of robots could disrupt job markets in the foreseeable future and thus merit attention from labor analysts.Link

Tags: , , , , , , ,

Owning, Using and Renting: Some Simple Economics of the “Sharing Economy”

Owning, Using and Renting: Some Simple Economics of the “Sharing Economy”. Richard Zeckhauser, January 15, 2019, Paper, “New Internet-based “sharing economy” markets enable consumer-owners to rent out their durable goods to non-owners. We model such markets, and explore their equilibrium both in the short-run, before ownership decisions can be revised, and in the long-run, in which they can. We find that “sharing economy” markets always expand consumption and increase surplus, but may increase or decrease ownership. Our analysis also considers the costs of bringing unused capacity to the market. To complement our theoretical work, we conduct a survey of consumers, finding broad support for our modeling assumptions. For example, ownership is determined by individuals’ forward looking assessments of planned usage weighed off against the price of the good. The survey also allows us to offer a partial decomposition of the bring-to-market costs, based on attributes that make a good more or less amenable to being shared.Link

Tags: , ,

China’s Boldest Experiment

China’s Boldest Experiment. Dani Rodrik, December 11, 2018, Opinion, “The conventional wisdom among social scientists is that the demands of advanced economies and growing middle classes can be met only through greater political freedoms and competition. By doubling down on authoritarian single-party rule, China is now testing that proposition.Link

Tags: , , ,

Team Learning Capabilities: A Meso Model of Sustained Innovation and Superior Firm Performance

Team Learning Capabilities: A Meso Model of Sustained Innovation and Superior Firm Performance. Amy Edmondson, 2018, Paper, “This paper complements the manager-centered analysis of dynamic capabilities with a team-based approach focused on team learning. We argue that team learning capabilities intertwine with managerial cognitive capabilities to support the processes of sensing, seizing, and reconfiguring. We draw from the literature on team learning to develop four categories based on the orientation (exploration/exploitation) and locus (internal/external) of learning in teams: reflexive, experimental, contextual, and vicarious learning. We integrate these categories into the dynamic capabilities framework to show their particular relevance at different points along the sensing-seizing-reconfiguring pathway, and assess their potential impact on innovation and strategic change. The framework contributes by adding a meso lens to research on dynamic capabilities to help scholars better understand how learning that occurs in teams may support entrepreneurial managers in enacting their cognitive capabilities in service of sustained innovation and superior firm performance.Link

Tags: , ,