Innovation Management Research
The Mack Institute’s research begins with the premise that emerging technologies change paradigms: they upend the very structure of established firms. Traditional management principles don’t take into account the high levels of risk and uncertainty that result from disruptive innovation.
Innovation management is an intrinsically cross-industry field. Our activities are driven by four priorities that together define our academic domain.
Since 1994, the Mack Institute has provided over $3.6 million in funding toward more than 400 projects that advance our research priorities.
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Managers have no shortage of advice on how to achieve organic sales growth through innovation. Prescriptions range from emulating the best practices of innovative companies like Amazon, Starbucks, and 3M to adopting popular concepts such as design thinking, lean startup principles, innovation boot camps, and co-creation with customers. Read More
Organizational sponsors foster young entrepreneurial firms by providing resources to increase survival rates. Sponsorship can be financial as with tax incentive structures, public and private grant programs, or early stage private investment. Read More
I introduce risk factors that not only explain the cross-section of returns, but also unambiguously represent economic risk for the firms, are interpretable, and come directly from the companies. I exploit machine learning and natural language processing techniques to identify from the 10-K annual reports the types of risks that firms face, and to quantify ...Read More
Lean startup principles have fueled a revolution in business and entrepreneurship, but there is a downside to early market testing, according to new Wharton research. Read More
To help firms make strategic decisions about blockchain, the Mack Institute introduces a new white paper laying out a road map and key questions for blockchain adoption. Read More
This study investigates incumbent responses to a main rival’s exit. We argue that long‐time rivals have developed an equilibrium by offering a mix of overlapping and unique products and by choosing geographic proximity to each other. A rival’s exit, however, disrupts this equilibrium and motivates surviving firms to expand in both product and geographic spaces ...Read More
I aim to contribute to corporate strategy and technology and innovation management literatures by refining the way we think about how firms’ externally accessible resources and capabilities influence those firms’ heterogeneous boundary choices and their resulting outcomes. Read More
A well-known maxim in management is that “your people are your greatest asset”. Recruitment strategies in particular have been linked to firms’ innovative capacity, emphasizing the importance of maintaining competitive advantages in HR as a key goal of effective innovation management. Read More
A challenge of mergers and acquisitions is how to align incentives between the target firm and the existing organization. In the health care industry, Physician Practice Management Companies (PPMCs) acquire physician practices to gain market power and leverage economies of scale. Read More
The modern knowledge economy depends crucially on innovation, but adaptation to innovation has been linked to economic ills such as wage inequality, skill polarization, and geographic divergence. Between 2000 and 2016 alone, the U.S. shed approximately 6 million manufacturing jobs largely as a result of increasing pressure from automation and international trade. Read More