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Business/ Management/ Innovation

Business/ Management/ Innovation

When designer and computer scientist John Maeda was tapped to be president of the celebrated Rhode Island School of Design in 2008, he had to learn how to be a leader quickly. He had to transform himself from a tenured professor—with a love of argument for argument's sake and the freedom to experiment—into the head of a hierarchical organization. The professor is free to speak his mind against "the man." The college president is "the man." Maeda has had to teach himself, through trial and error, about leadership.

The ability to manage knowledge has become increasingly important in today’s knowledge economy. Knowledge is considered a valuable commodity, embedded in products and in the tacit knowledge of highly mobile individual employees. Knowledge management (KM) represents a deliberate and systematic approach to cultivating and sharing an organization’s knowledge base. It is a highly multidisciplinary field that encompasses both information technology and intellectual capital.

Evolving Captive Center Models

In today’s globalized economy, firms often consider offshoring when confronted by rising costs and fierce competition. One mode of offshoring has continued to grow despite the current global economic turmoil: the captive center. Captive centers are offshore subsidiaries or branch offices that provide the parent company with services, usually in the form of back-office activities. In Offshoring Strategies, Ilan Oshri examines the evolution of the captive center.

The BP Oil Spill Disaster and the Future of Energy in America

On April 20, 2010, the gigantic drilling rig Deepwater Horizon blew up in the Gulf of Mexico, killing eleven crew members and causing a massive eruption of oil from BP's Macondo well. For months, oil gushed into the Gulf, spreading death and destruction. Americans watched real-time video of the huge column of oil and gas spewing from the obviously failed "blowout preventer." The evening news showed heart-rending images of pelicans, dolphins, and other Gulf wildlife covered in oil.

Delivering Customer Value through Flexible Operations

In recent years, management gurus have urged businesses to adopt such strategies as just-in-time, lean manufacturing, offshoring, and frequent deliveries to retail outlets. But today, these much-touted strategies may be risky. Global financial turmoil, rising labor costs in developing countries, and huge volatility in the price of oil and other commodities can disrupt a company’s entire supply chain and threaten its ability to compete.

Essential Practices for Successful Innovation

Innovation is the ruling buzzword in business today. Technology companies invest billions in developing new gadgets; business leaders see innovation as the key to a competitive edge; policymakers craft regulations to foster a climate of innovation. And yet businesses report a success rate of only four percent for innovation initiatives. Can we significantly increase our odds of succeeding at innovation? In The Innovator’s Way, innovation experts Peter Denning and Robert Dunham reply with an emphatic yes.

The Internet's remarkable growth has been fueled by innovation. New applications continually enable new ways of using the Internet, and new physical networking technologies increase the range of networks over which the Internet can run. Questions about the relationship between innovation and the Internet's architecture have shaped the debates over open access to broadband networks, network neutrality, nondiscriminatory network management, and future Internet architecture.

Microeconomic Structure and Macroeconomic Implications

In the early 1990s, trade and labor economists, noting the fall in wages for low-skilled workers relative to high-skilled workers, began to debate the impact of trade on wages. This debate—which led to a sometimes heated exchange on the role of trade versus the role of technological change in explaining wage movements—continues today, with the focus now shifting to workers in the middle of the wage distribution.

How Information Technology Is Reshaping the Economy

A wave of business innovation is driving the productivity resurgence in the U.S. economy. In Wired for Innovation, Erik Brynjolfsson and Adam Saunders describe how information technology directly or indirectly created this productivity explosion, reversing decades of slow growth. They argue that the companies with the highest level of returns to their technology investment are doing more than just buying technology; they are inventing new forms of organizational capital to become digital organizations.

Searching for the Keys to Adaptive Decision Making

In making decisions, when should we go with our gut and when should we try to analyze every option? When should we use our intuition and when should we rely on logic and statistics? Most of us would probably agree that for important decisions, we should follow certain guidelines--gather as much information as possible, compare the options, pin down the goals before getting started. But in practice we make some of our best decisions by adapting to circumstances rather than blindly following procedures.