As we continue in an era of simultaneous innovation and
commoditization, enabled by digital technologies, managers around
the world are asking themselves "how can we both adapt to rapid
changes in technology and markets, and still make enough money to
survive--and thrive?"
To provide answers to these important and urgent questions, MIT
Sloan School of Management Professor Michael Cusumano draws on
nearly 30 years of research into the practices of global
corporations that have been acknowledged leaders and benchmark
setters--including Apple, Intel, Google, Microsoft, Toyota, Sony,
Panasonic, and others in a range of high-technology, services, and
manufacturing industries. These companies have also encountered
major challenges in their businesses or disruptions to their core
technologies.
If we look deeply enough, he contends, we can see the ideas that
underpin the management practices that make for great companies,
and drive their strategic evolution and innovation capabilities.
From his deep knowledge of these organizations, Cusumano distills
six enduring principles that he believes have been--in various
combinations--crucial to their strategy, innovation management
practices, and ability to deal with change and uncertainty.
The first two principles--platforms (not just products), and
services (especially for product firms)--are relatively new and
broader ways of thinking about strategy and business models, based
on Cusumano's latest research. The other four--capabilities (not
just strategy or positioning), the "pull" concept (not just push),
economies of scope (not just scale), and flexibility (not just
efficiency)--all contribute to agility, which is a mix of
flexibility and speed. Many practices associated with these ideas,
such as dynamic capabilities, just-in-time production, iterative or
prototype-driven product development, flexible design and
manufacturing, modular architectures, and component reuse, are now
commonly regarded as standard best practices.
These six enduring principles are essential in a new world
dominated by platforms and technology-enabled services.
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