Organizations and Markets

Managing Innovation

26 January 2011 at 12:54 am Peter G. Klein Leave a comment

| Peter Klein |

My old classmate Hank Chesbrough offers some thoughts on managing innovation in HBR’s Conversation Blog. Previous decades brought us systems analysis, PERT, TQM, supply chain management, and open innovation. What’s next? Hank’s predictions:

First, management innovation will become more collaborative. Opening up the innovation process will not stop with accessing external ideas and sharing internal ideas. Rather, it will evolve into a more iterative, interactive process across the boundaries of companies, as communities of interested participants work together to create new innovations. . . .

Second, business model innovation will become as important as technological innovation. . . . Third, we will need to master the art and science of innovating in services-led economies. Most of what we know about managing innovation comes from the study of products and technologies. Yet the world’s top advanced economies today derive most of their GDP from services rather than products or agriculture.

Entry filed under: - Klein -, Innovation, Management Theory.