Can company innovation mature outsmart radical upstarts
Rice and a team of faculty and graduate students followed them and six other large, established name-brand companies in 12 of their individual innovation projects, tracking how these companies deal with the challenges of managing them. Rice allowed me to pick his brain and spill some entrepreneurial beans:. Mark Rice: The traditional definition of innovation is based on two dimensions of uncertainty, incremental uncertainty and market uncertainty. The two ends of the spectrum are incremental innovation, for which the technical and market uncertainty is relatively low, vs. In our study, what we discovered was not only is there high technical and market uncertainty, but there's also a very high resource and organizational uncertainty.
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Peters, Mark P. Rice, and Robert W. You have heard it a thousand times before: "Small entrepreneurial firms are the source of most radical innovations. Large companies have a tough time getting it done. Think of the upstart firms that have pioneered the technologies and business models that now dominate the Internet and e-commerce America Online, Amazon. The failure to develop and introduce breakthrough innovations puts established firms at risk of being knocked out of the game by the entrepreneurial newcomers.
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She is responsible for recruiting twenty one Fortune companies to participate in this three-year effort, which is now complete and has culminated in the publication of a book, titled Grabbing Lightning: Building a Capability for Breakthrough Innovation Jossey-Bass, . Most recently, she led the next phase of the research, focusing on clarifying roles for innovation specialists. Before joining RPI, Dr. O'Connor earned her Ph. She also holds an MBA and B.
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