Published by:
Harvard Business Publishing
Length: 11 pages
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Abstract
A study of U.S., Japanese, and European companies shows that, contrary to the claims of some corporate critics, large companies can be as technologically innovative as small companies. The effective management of innovation is surprisingly similar in both. Founders of small companies pursue their technological goals over many years, keeping costs low, tolerating uncertainty and setbacks, and readily adapting their products to meet market needs. By contrast, many managers of large organizations emphasize orderly and predictable operations. Innovative large companies accept the tumultuous realities of the innovative process and behave much like their smaller counterparts. McKinsey Award Winner.
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Abstract
A study of U.S., Japanese, and European companies shows that, contrary to the claims of some corporate critics, large companies can be as technologically innovative as small companies. The effective management of innovation is surprisingly similar in both. Founders of small companies pursue their technological goals over many years, keeping costs low, tolerating uncertainty and setbacks, and readily adapting their products to meet market needs. By contrast, many managers of large organizations emphasize orderly and predictable operations. Innovative large companies accept the tumultuous realities of the innovative process and behave much like their smaller counterparts. McKinsey Award Winner.