Overview
Emerging technologies such as the Internet and biotechnology havethe potential to create new industries and transform existing ones.Incumbent firms, despite their superior resources, often lose outto smaller rivals in developing emerging technologies. Why do theseincumbents 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 theresearch of Wharton's Emerging Technologies Management ResearchProgram. This pioneering industry-academic partnership, establishedin 1994, is one of the longest and broadest initiatives on themanagement of emerging technologies. For the first time, this bookdistills the insights from the program into a single volume formanagers, covering a wide range of issues related to the successfulmanagement of emerging technologies.
The editors contend that managing emerging technologiesrepresents a "different game," requiring a different set ofmanagement skills, frameworks, and strategies than those used byestablished 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 inmanaging emerging technologies
- Strategies for assessing the potential of new markets anddesigning technologies to take advantage of market "lumpiness"
- The need for scenario planning and "disciplined imagination" todevelop strategies under uncertainty
- The limits of patents in protecting gains from technology, andthe use of lead time and other strategies
- The power of innovative financial strategies and the use ofreal options in making investments
- Using alliances and new organizational forms
- Developing a "customized workplace"
Praise for WHARTON on MANAGING EMERGING TECHNOLOGIES
"New technologies are transforming markets, businesses, andsociety at an ever-increasing rate. We have a critical need forbetter road maps for managing our way through this new terrain.This book offers critical insights and useful new models forthinking through these challenges."
—Professor Thomas Gerrity, Director of the Wharton e-CommerceForum
"Wharton on Managing Emerging Technologies covers theemerging technology landscape-from strategy to finance to humanresources-in a way that only a group of top scholars from manydisciplines could do. Insightful, accessible, and smart ideas thatmake for 'must reading' for thoughtful executives in today'sturbulent economy. The authors prove, once again, the power ofresearch to yield deep insight into tough business problems."
—Kathleen M. Eisenhardt, Professor of Strategy andOrganization, Stanford University and coauthor, Competing on theEdge: Strategy As Structured Chaos
"Wharton on Managing Emerging Technologies offers valuableinsight for large established companies seeking growth in a dynamicmarket of rapid technological advancement. The entertaining casesand thoughtful analyses help managers create strategies, selectoptions, and organize to successfully manage the interface betweenimagination and knowledge."
—Jerry Karabelas, PhD, CEO, Novartis Pharma AG
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