TTMG 5001 Principles of Management for Engineers Session 6: October 19 Fall 2011 Michael Weiss www.carleton.ca/tim www.carleton.ca/tim/tim.pdf
Session 6 objectives Upon completion of the session, you will know about • three perspectives that can help make decisions on how to commercialize new products and technology • their constructs and how the constructs are assembled and you will be able to • identify the objectives, deliverables, contribution and relevance of commercialization research • recognize how knowledge produced by one or two authors evolves over time weiss@sce.carleton.ca Slide 2
Agenda 1. Presentations of assignment 1 2. Questions about • Two TTMG 5001 assignments • Gate 0 for TIM • Professor’s summary of assigned readings • Questions to which we want answers and comments weiss@sce.carleton.ca Slide 3
1. Presentations of assignment 1 • Assignment 1 presentations will take place during Session 8, Nov 2 in room 4359 ME • Make available slides to be presented before 5 p.m. on Nov 1; professor will post slides by 6 p.m. • Topics have been posted on TTMG 5001 web site • Nov 2 presentations will not be graded, but Nov 23 presentations of assignment 1 will be graded • Each presentation is restricted to 10 minutes max, how time is used is up to the group • Stick to the template provided • We will prepare a list of what needs to be done so quality of presentations is 2X better next time weiss@sce.carleton.ca Slide 4
2. Questions TTMG 5001 Assignments Gate 0 • Objectives • Literature review • Deliverables • Gate 0 • Relevance • Literature review • Contributions • Theoretical framework • Research method • Data acquisition • Data analysis • References weiss@sce.carleton.ca Slide 5
3. Summary • Session 6 assigned articles • Objectives • Deliverables, contribution and relevance • Lessons learned weiss@sce.carleton.ca Slide 6
Session 6 assigned articles • Ferrier, W. J. 2001. Navigating the competitive landscape: the drivers and consequences of competitive aggressiveness. Academy of Management Journal, 44(4), 858-877. • Gans, J. S., Hsu, D. H. & Stern, S. 2002. When does start-up innovation spur the gale of creative destruction? RAND Journal of Economics, 33(4): 571-586. • Gans, J. S., & Stern, S. 2003. The product market and the market for “ideas”: commercialization strategies for technology entrepreneurs. Research Policy, 32: 333-350. • Miller, R., & Olleros, X. 2007. The dynamics of games of innovation. International Journal of Innovation Management, 11(1): 37-64. weiss@sce.carleton.ca Slide 7
About the articles • Provide three perspectives on commercialization of products and technology • Identify perspectives, their constructs, and the way constructs are assembled weiss@sce.carleton.ca Slide 8
About the articles • Provide three perspectives on commercialization of products and technology • Identify perspectives, their constructs, and the way constructs are assembled weiss@sce.carleton.ca Slide 9
About the articles Ferrier (2001) Gans et al. (2002), Miller & Olleros Gans & Stern (2003) (2007) Perspective How competitive How a start-up How companies create actions increase decides whether to new markets and company compete or cooperate maintain them? performance? with incumbents? Constructs Internal and external Market for ideas, Games of innovation, factors, attack market for products, value creation and characteristics, asset value, capture exchanges, company performance complementary networks of agents assets, appropriability type Framework Two stage model 2x2 matrix describing Taxonomy of games of where factors affect competitive dynamics innovation attacks and attacks affect performance weiss@sce.carleton.ca Slide 10
Objectives Ferrier (2001) Gans et al. Gans & Stern Miller & Olleros (2002) (2003) (2007) Examines how Examines the Examines the Examines how company and determinants of factors that drive how companies industry factors commerciali- commerciali- create new affect zation strategy zation strategies markets and competitive for start-up of start-ups and maintain those actions and companies their implications markets as they how for competitive evolve competitive dynamics actions affect performance weiss@sce.carleton.ca Slide 11
Deliverables Ferrier (2001) Gans et al. Gans & Stern Miller & Olleros (2002) (2003) (2007) • Two-stage model • Results of • Synthetic • Results of a identifying factors framework for cluster analysis related to identifying the of survey • Results of testing commerciali- right competitive responses eight hypotheses zation outcomes strategy for a using data on 224 start-up • Taxonomy of observations of games of competitive actions • Model for start- innovation undertaken by firms up choices and in 16 industries payoffs using focal firm- year as the unit of analysis weiss@sce.carleton.ca Slide 12
Contribution Ferrier A representation of competitive attacks as an ordered, (2001) uninterrupted sequence of repeatable action events and a method to measure competitive attacks (previously strategy had been defined as an event and not as a sequence of events) A framework to examine how internal and external factors affect competitive attacks and how competitive attacks affects company performance (previously the internal and external variables were related directly to company performance) weiss@sce.carleton.ca Slide 13
Contribution Ferrier A representation of competitive attacks as an ordered, (2001) uninterrupted sequence of repeatable action events and a method to measure competitive attacks (previously strategy had been defined as an event and not as a sequence of events) A framework to examine how internal and external factors affect competitive attacks and how competitive attacks affects company performance (previously the internal and external variables were related directly to company performance) weiss@sce.carleton.ca Slide 14
Contribution (continued) Gans et al. Finding that patent ownership increases willingness to (2002) cooperate and VC funding increases likelihood of acquisition (previously there was no empirical evidence of the existence of a market for ideas) Gans & Strategies that a start-up should pursue (previously there was Stern no taxonomy for competitive strategy that included the market (2003) for ideas) Miller & Identify six games of innovation around value creation Olleros exchanges. Three games focus on market creation: patent- (2007) driven discovery, systems integration, and platform orchestration. Three games focus on market maintenance: cost-based competition, systems extension and engineering, and customized mass production (previously the innovation management process was viewed as uniform) weiss@sce.carleton.ca Slide 15
Relevant to researchers and students because Ferrier (2001) Gans et al. Gans & Stern Miller & (2002) (2003) Olleros (2007) Provide good examples of contributions that introduced new ideas that affected the way academics thought about a domain, and good examples of how this thinking evolves Define constructs and relationships that can be used to undertake research that explain how wealth is created and how the wealth created is distributed across economic agents Provide examples of the different types of ways you can contribute to the identification of constructs and assembly of constructs weiss@sce.carleton.ca Slide 16
Relevant to researchers and students because (continued) Ferrier Provides a structure that relates X, with the consequences of (2001) X and the factors that constrain and enable X (antecedents). This is elegant and can be used to develop domain models Gans et Provides a good example of method to undertake research al. (2002) without actually testing hypotheses Miller & Provide a good example of using cluster analysis to detect Olleros patterns in the data that lead to new insights (2007) weiss@sce.carleton.ca Slide 17
Relevant to researchers and students because (continued) Gans et al. Ferrier Gans & Stern Miller & (2002) (2001) (2003) Olleros (2007) Provide good examples of how frameworks are built Provide interesting suggestions for future research weiss@sce.carleton.ca Slide 18
Relevant to TMT and project managers because Ferrier (2001) Gans et al. Gans & Stern Miller & (2002) (2003) Olleros (2007) To create and capture value you need to do much more than just develop a product or a technology. If you don’t do the other things, you may create wealth but capture little of it To create and capture value you need to design the right organization and implement the right strategies To understand your position relative to other economic agents, you need to know what to measure and how to measure it To design a competitive strategy, you can use a checklist to ensure that your company is doing the right things weiss@sce.carleton.ca Slide 19
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