Wharton on Managing Emerging Technologies / Edition 1

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Overview

Emerging technologies such as the Internet and biotechnology have the potential to create new industries and transform existing ones. Incumbent firms, despite their superior resources, often lose out to smaller rivals in developing emerging technologies. Why do these incumbents have so much difficulty with disruptive technologies? How can they anticipate and overcome their handicaps?

Wharton on Managing Emerging Technologies presents insights, tools, and frameworks from leading busi-ness thinkers based on the research of Wharton's Emerging Technologies Management Research Program. This pioneering industry-academic partnership, established in 1994, is one of the longest and broadest initiatives on the management of emerging technologies. For the first time, this book distills the insights from the program into a single volume for managers, covering a wide range of issues related to the successful management of emerging technologies.

The editors contend that managing emerging technologies represents a "different game," requiring a different set of management skills, frameworks, and strategies than those used by established firms to manage existing technologies. In this book, experts from diverse fields examine key issues such as:

  • Common pitfalls and potential solutions for incumbent firms in managing emerging technologies
  • Strategies for assessing the potential of new markets and designing technologies to take advantage of market "lumpiness"
  • The need for scenario planning and "disciplined imagination" to develop strategies under uncertainty
  • The limits of patents in protecting gains from technology, and the use of lead time and other strategies
  • The power of innovative financial strategies and the use of real options in making investments
  • Using alliances and new organizational forms
  • Developing a "customized workplace"
Wharton on Managing Emerging Technologies represents a powerful survival kit for managers "dropped behind the lines" of these new technologies. The authors provide a comprehensive set of tools and insights that will help you understand the new challenges and develop effective strategies to succeed at this different game.

Praise for WHARTON on MANAGING EMERGING TECHNOLOGIES

"New technologies are transforming markets, businesses, and society at an ever-increasing rate. We have a critical need for better road maps for managing our way through this new terrain. This book offers critical insights and useful new models for thinking through these challenges."
—Professor Thomas Gerrity, Director of the Wharton e-Commerce Forum

"Wharton on Managing Emerging Technologies covers the emerging technology landscape-from strategy to finance to human resources-in a way that only a group of top scholars from many disciplines could do. Insightful, accessible, and smart ideas that make for 'must reading' for thoughtful executives in today's turbulent economy. The authors prove, once again, the power of research to yield deep insight into tough business problems."
—Kathleen M. Eisenhardt, Professor of Strategy and Organization, Stanford University and coauthor, Competing on the Edge: Strategy As Structured Chaos

"Wharton on Managing Emerging Technologies offers valuable insight for large established companies seeking growth in a dynamic market of rapid technological advancement. The entertaining cases and thoughtful analyses help managers create strategies, select options, and organize to successfully manage the interface between imagination and knowledge."
—Jerry Karabelas, PhD, CEO, Novartis Pharma AG

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Product Details

  • ISBN-13: 9780471361213
  • Publisher: Wiley
  • Publication date: 5/1/2000
  • Edition number: 1
  • Pages: 480
  • Product dimensions: 9.21 (w) x 6.14 (h) x 1.06 (d)

Meet the Author

GEORGE S. DAY, PhD, is the Geoffrey T. Boisi Professor, Professor of Marketing, and Director of the Huntsman Center for Global Competition and Innovation at The Wharton School. He was one of the founders of the Emerging Technologies Management Research Program at the Huntsman Center and has consulted for numerous corporations, including GE, IBM, and Nortel Networks. Dr. Day is the author of Market-Driven Strategy and The Market-Driven Organization, and coeditor of Wharton on Dynamic Competitive Strategy.

PAUL J. H. SCHOEMAKER, PhD, is Research Director of Wharton's Emerging Technologies Management Research Program. He is the founder and chairman of Decision Strategies International, Inc., a firm specializing in scenario-based strategic management and executive decision-making. A frequent speaker and consultant to numerous organizations around the world, Professor Schoemaker is the author of many articles and several books on decision-making and strategy, including Decision Traps.

ROBERT E. GUNTHER was coordinating writer for Wharton on Dynamic Competitive Strategy.

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Table of Contents

Chapter 1. A Different Game (George S. Day and Paul J.H. Schoemaker).

Chapter 2. Avoiding the Pitfalls of Emerging Technologies (George S. Day and Paul J.H. Schoemaker).

PART I. ASSESSING TECHNOLOGIES.

Chapter 3. Technology Speciation and the Path of Emerging Technologies (Ron Adner and Daniel A. Levinthal).

Chapter 4. Identification and Assessment of Emerging Technologies. (D. S. Doering and Roch Parayre).

Chapter 5. Emerging Technologies and Public Policy: Lessons from the Internet (Gerald R.  Faulhaber).

PART II. MANAGING MARKETS.

Chapter 6. Assessing Future Markets for New Technologies (George s. Day).

Chapter 7. Technology Strategy in Lumpy Market Landscapes (Ian C. MacMillan and Rita Gunther McGarth).

Chapter 8. Commercializing Emerging Technology through Complementary Assets. (Mary Tripsas).

PART III. MAKING STRATEGY.

Chapter 9. Disciplined Imagination: Strategy Making in Uncertain Environments (Gabriel Szulanski with Kruti Amin).

Chapter 10. Scenario Planning for Disruptive Technologies (Paul J.H. Schoemaker and V. Michael Mavaddat).

Chapter 11. Appropriating the Gains from Innovation (Sidney G. Winter).

PART IV. INVESTING FOR THE FUTURE.

Chapter 12. Managing Real Options (William F. Hamilton).

Chapter 13. Financing Strategies and Venture Capital (Franklin Allen and John Percival).

Chapter 14. Innovative Financial Strategies for Biotechnology Ventures (Paul J.H. Schoemaker and Alan C. Shapiro).

PART V. RETHINKING THE ORGANIZATION.

Chapter 15. Managing Dynamic Knowledge Networks (Lori Rosenkopf).

Chapter 16. Using Alliances to Build Competitive Advantage in Emerging Technologies (Jeffrey H. Dyer and Harbir Singh).

Chapter 17. The Design of New Organizational Forms (Jennifer Herber, Jitendra V. Singh and Michael Useem).

Chapter 18. Designing the Customized Workplace (John R. Kimberly and Hamid Bouchikhi).

Notes.

Index.

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  • Anonymous

    Posted December 12, 2000

    'TO E OR NOT TO E' IS THE QUESTION

    The editors, Day, Gunther, and Schoemaker, issue words of wisdom and warning on how business can thrive with the 'emerging technologies.' Whether they like it or not, many managers with the help of their CIO's are going to help lead their businesses through the purple haze of the new economy. God only knows that there are many so-called 'masters of the new economy' for hire with opinions on e-business innovations, marketing, business model disruption and more. Wharton on Emerging Technologies appears to be the first of its kind to propose 'expert guidance for managers on succeeding at the new game of these technologies.' The editors point out that 'these technologies such as the Internet and biotechnology have the potential to make new industries and transform new ones.' The biggest change the Internet has brought to business is that the balance of power has shifted to consumers. But individuals are producers as well. Day, Gunter and Schoemaker point out that it used to be that in order to be an efficient producer you had to be part of a big institution. Now, anyone with a PC can be very productive. This does not mean that they will become a Rupert Murdoch but it does mean that that it¿s a flatter marketplace, so you can find your market. The game is different and as a result, a different set of management skills, outlines, and plans are needed. In an age where economic change has been dramatic, Day, Gunter, and Schoemaker contend that the key currencies for today's business managers are time, talent, and management attention. Waste any of these and you risk putting your entire enterprise in jeopardy. George Day is the Geoffrey T. Bois Professor of marketing at the Wharton School of the University of Pennsylvania. Dr. Paul Schoemaker is Research Director of Wharton's Emerging Technologies Management Research Program, and Robert Gunther is a professional business writer and author.

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