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Business/ Management/ Innovation

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Users, Communities, and Open Innovation

The last two decades have witnessed an extraordinary growth of new models of managing and organizing the innovation process that emphasizes users over producers. Large parts of the knowledge economy now routinely rely on users, communities, and open innovation approaches to solve important technological and organizational problems. This view of innovation, pioneered by the economist Eric von Hippel, counters the dominant paradigm, which cast the profit-seeking incentives of firms as the main driver of technical change.

Design structure matrix (DSM) is a straightforward and flexible modeling technique that can be used for designing, developing, and managing complex systems. DSM offers network modeling tools that represent the elements of a system and their interactions, thereby highlighting the system’s architecture (or designed structure). Its advantages include compact format, visual nature, intuitive representation, powerful analytical capacity, and flexibility.

Institutions, Instruments, and Risk Management

Over the last fifty years, an extensive array of instruments for financing, investing, and controlling risk has become available in financial markets, with demand for these innovations driven by the needs of investors and borrowers. The recent financial crisis offered painful lessons on the consequences of ignoring the risks associated with new financial products and strategies. This substantially revised fifth edition of a widely used text covers financial product innovation with a new emphasis on risk management and regulatory reform.

How Cheap Experiments Are Worth More than Good Ideas

What is the best way for a company to innovate? Advice recommending “innovation vacations” and the luxury of failure may be wonderful for organizations with time to spend and money to waste. The Innovator’s Hypothesis addresses the innovation priorities of companies that live in the real world of limits. Michael Schrage advocates a cultural and strategic shift: small teams, collaboratively—and competitively—crafting business experiments that make top management sit up and take notice.

Essays in Honor of John D.C. Little

John D. C. Little of MIT’s Sloan School of Management is famous for his contributions to operations research and marketing science. He formulated a fundamental theorem in queuing theory known as Little’s Law, which is used widely in a variety of fields. His work on such topics as optimal advertising experimentation, advertising budgeting, and aggregate marketing models, and its subsequent applications, has generated entire streams of research.

The Definitive Guide

The study of business processes has emerged as a highly effective approach to coordinating an organization’s complex service- and knowledge-based activities. The growing field of business process management (BPM) focuses on methods and tools for designing, enacting, and analyzing business processes. This volume offers a definitive guide to the use of patterns, which synthesize the wide range of approaches to modeling business processes.

A Strategic Approach

This book offers a framework for making decisions under risk and uncertainty. Synthesizing research from economics, finance, decision theory, management, and other fields, the book provides a set of tools and a way of thinking that determines the relative merits of different strategies. It takes as its premise that we make better decisions if we use the whole toolkit of economics and related fields to inform our decision making.

Intelligence does not arise only in individual brains; it also arises in groups of individuals. This is collective intelligence: groups of individuals acting collectively in ways that seem intelligent. In recent years, a new kind of collective intelligence has emerged: interconnected groups of people and computers, collectively doing intelligent things. Today these groups are engaged in tasks that range from writing software to predicting the results of presidential elections.

Although each instance of creativity is singular and specific, Kyna Leski tells us, the creative process is universal. Artists, architects, poets, inventors, scientists, and others all navigate the same stages of the process in order to discover something that does not yet exist. All of us must work our way through the empty page, the blank screen, writer’s block, confusion, chaos, and doubt. In this book, Leski draws from her observations and experiences as a teacher, student, maker, writer, and architect to describe the workings of the creative process.

Driving Corporate Behavior in the United States and Europe

Barely a week goes by without a new privacy revelation or scandal. Whether by hackers or spy agencies or social networks, violations of our personal information have shaken entire industries, corroded relations among nations, and bred distrust between democratic governments and their citizens. Polls reflect this concern, and show majorities for more, broader, and stricter regulation—to put more laws “on the books.” But there was scant evidence of how well tighter regulation actually worked “on the ground” in changing corporate (or government) behavior—until now.

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