The concept of disruptive innovation has captured the attention of executives around the world. As explained by Clayton Christensen, a disruptive innovation is initially seen as unattractive by mainstream customers and by the leading firms who serve those customers. Eventually, however, those firms lose their leadership positions to new entrants who are willing to develop and improve the innovation […]
Policymaking often creates unintended consequences. But can disruptive innovation actually be spurred by President Donald Trump’s version of protectionism? Using the language of disruptive innovation, we observe that the long-term negative consequences of isolationism are actually an acceleration of US companies losing their own industries. Perhaps not even protectionism is what it used to be.
When it comes to economic […]
Despite having different professions, the entrepreneur Steve Jobs and the film director Lars von Trier have one thing in common: they are both notorious for their outbursts of anger or irritation and for bringing about shifts in mood between disturbance and enthusiasm. Far from being a coincidence, this appears to be a result of their extraordinarily creative and innovative […]
Our research explores how venture capitalists (VCs) and chief executive officers (CEOs) jointly affect the risk-taking behaviour of a startup — manifested through innovation novelty over the new venture’s different life stages. We show that VCs behave differently for each stage. They generally encourage startups to take high risk by pursuing novel innovations early on. In later stages, VCs […]
Innovation is the adoption of an idea or behaviour pertaining to a product, service device system, policy or programme that is new to the adopting organisation. Innovation has been recognised as a significant aspect of corporate survival. This has become particularly apparent in recent years as firms are increasingly operating in highly competitive markets where technologies are constantly developing, […]
The Industrial Internet of Things (IIoT) has the ring of some disturbingly dystopian vision of the future. It feels daunting, sub-human. Put such thoughts to one side and it presents a myriad of opportunities.
First, let us try to understand the concept and the potential. In its report, “Driving Unconventional Growth through the Industrial Internet of Things,” Accenture describes IIoT: […]
Firms regularly assume that they can improve their innovation performance by involving customers in new product development (NPD) and tapping into customer knowledge about their needs and potential solutions. However, not all firms have benefitted from this practice. We undertook an investigation to explain why the returns from customer participation vary substantially across contexts and what marketers can do to […]
Despite good intentions — and widespread acceptance of the importance of innovation — efforts to innovate at large companies often go off the rails.
There is no other organisational capability with such a gap between importance and performance. In the 2015 BCG survey, 70 percent of executives replied that innovation was either the company’s top priority or among the top […]
Recent management wisdom has advocated a shift from dedicated R&D within firms to more open forms of innovation where external knowledge is solicited for innovation. Among the external knowledge sources for innovation, users or consumers are often cited as important sources. Why is this so? As firms may incur significant costs in innovation and suffer from innovation blocks, involving […]
The UK is a world leader in research, home to a plethora of internationally acclaimed companies, and has contributed life-changing technologies and products to the global market. However, a historic lack of collaboration and understanding between centres of research excellence and business has seen the UK fail to bring to market some innovations with the potential for explosive growth.