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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 these handicaps? Wharton
on Managing Emerging Technologies presents insights, tools and frameworks
from leading business 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 for 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 processing 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. George.
S. Day, Ph.D., 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,
Ph.D., 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, including Decision Traps. Robert
E. Gunther was contributing writer for Wharton on Dynamic Competitive Strategy.
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