The Innovation Economy is defined by revolution. Just when you think you've got it all figured out... Everything will change in an instant. The best organizations are agile. When faced with deep uncertainty, they arm themselves with information. They seize new opportunities. And they transform entire industries. What was once optional is now essential. Evaluate every tool. Uncover every advantage.
Four Types of Crowdfunding
by Lee Fleming and Olav Sorenson
In the past, shipping a product or launching a company was only an option for those who had the money. But the internet has enabled creative new means of gathering capital. Today, crowdfunding platforms allow millions of people around the world to pursue their own ideas with the help of networks of supporters. This animated introduction to the special issue on crowdfunding describes the four primary types of crowdfunding: equity-based, debt-based, rewards-based, and donation-based.
by Alfredo De Massis, Alberto Di Minin, and Federico Frattini
This animated introduction to the special section on family firms defines a new concept called "Family-Driven Innovation" (FDI). FDI is an integrated perspective on the processes underlying innovation within family businesses. The FDI framework highlights the need to find an alignment between a family firm's strategic innovation decisions and its own defining characteristics, in order to achieve and sustain competitive advantage through innovation.
Understanding Hybrid Organizations
by Nardia Haigh, John Walker, Sophie Bacq, and Jill Kickul
This animated introduction to the special issue on hybrid organizations defines hybrids, places them in their historical context, and introduces the strategies hybrids undertake to scale and grow, the impacts for which they strive, and their reception by mainstream firms. It aggregates insights from the articles in this special issue in order to examine what hybrid organizations mean for firms and practicing managers asthey continue to grow in number and assume a variety of missions in developing and developed countries.
Global Clusters of Innovation: Lessons from Silicon Valley
by Jerome S. Engel
Can innovation and entrepreneurship stimulate economic growth in diverse communities, or is it only effective in a few unique places like Silicon Valley? This article identifies the salient components, behaviors, and linkages that characterize Silicon Valley and explores how these characteristics apply in a diverse selection of economic communities in Europe, Asia, and Latin America. It focuses on the role institutions—such as governments, universities, major corporations, and NGOs—play in shaping such communities. It provides insights for government policy makers on how to enhance their region’s innovation potential, and offers strategies for entrepreneurs and venture investors as to how to leverage the benefits of clusters of innovation, wherever one is located.
by Tommi Lampikoski, Mika Westerlund, Risto Rajala, and Kristian Möller
Since the 1990s, growing awareness of environmental issues has inspired an increased interest in corporate responsibility and sustainability. While it was once possible for firms to pursue regulatory compliance alone, today's businesses have to go farther -- beyond the superficial "greenwashing" efforts of their predecessors. Leaders in sustainability understand that environmental issues (and their solutions) hold immense potential for innovation. But how can that potential be harnessed?
New technologies are being developed all the time, but not every invention is successful in the marketplace. Companies can conduct preliminary research to determine whether or not legitimacy can be effectively established for their products before they are even released.
Wrongdoing in and by organizations offends public sensibilities, is costly to organizations, and is injurious to the individuals who perpetrate it and are victimized by it. While it is popular to perceive such behavior as rare and aberrant, a new perspective has emerged that views wrongdoing as a normal phenomenon; behavior that is prevalent, not much different than right doing, and is often perpetrated by people who are for the most part upstanding (otherwise ethical, socially responsible, and law abiding). This new way of approaching wrongdoing has important implications for managers.