Hsu supernova-7.30.2010

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Wharton professor David Hsu's presentation on Networked Business Innovation at Supernova Forum 2010

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Hsu supernova-7.30.2010

  1. Networks and Innovation David Hsu Associate Prof. of Management dhsu@wharton.upenn.edu
  2. Discussion areas !   What is driving the importance of networks for innovation?! !   What type of organizations are likely to appropriate value created by networks of innovators?!
  3. What is driving the importance of networks for innovation? !   Knowledge specialization! !   Low hanging fruit already picked! !   No single organization or individual has a monopoly on the inputs to innovation ! !   Intellectual capital (great ideas, IPR)! !   Evaluation expertise & financial capital! !   Increased competitive pressure! !   E.g., faster product cycle times!
  4. Knowledge & resources are distributed, so collaboration across the network might be important for innovation Source:  Powell,  et  al.  AJS  (2005)  
  5. Networks for idea circulation !   Locus of knowledge: people, organizations and institutions as knowledge repositories! !   Circulation to maximize probability that holder of knowledge will be exposed to the problem, or! !   Circulation to build better ideas and ventures!
  6. Successful commercialization goes beyond successful invention
  7. Appropriating value from networked innovation !   Who has the knowledge & what is the basis for participation?! !   Non-commercial (Wikipedia; OSS) vs. commercial efforts! !   Designing incentives! !   How do you control the platform and drive usage?! !   Apple App Store! !   Facebook | LinkedIn | Twitter | Yelp | Foursquare | …! !   Innocentive | Netflix Prize!

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