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Businesses face the dilemma dividing resources between protecting the current value chain and developing new value propositions that in time replace the old

Leaders are always in search of that

Digital innovation is giving rise to new business models. Uber and Airbnb are household names today, when not so long ago we were all learning about the sharing economy. The regulations don’t always evolve as quickly as technological change — at least that’s the perception. So what should policy makers and regulators do? Wharton legal studies and business ethics professor Kevin Werbach, who wrote a policy brief about the topic for the Penn Wharton Public Policy Initiative, recently shared his insights into that question with Knowledge@Wharton.

You need that space to come up with the right questions before you apply all of your energies to answering them.

In the fast paced environment of global business, mobile technologies, and ever-expanding expectations of customers - clients and stakeholders developing and sustaining innovation is key to success. How you encourage and promote a culture of innovation, especially during strategic planning, is always a critical topic for any leader. One often overlooked path to innovation is deep partnerships and healthy relationships with your internal and external business and functional partners.

Wargaming is a competitive scenario exercise that allows teams to delve deeper into identified opportunities, threats, and potential market outcomes. Wargames provide a means to gain a better understanding of market shifts and how they will impact competitor actions. Some examples of questions in the innovation process that can be answered with wargaming include:

While the importance of innovation is crystal clear for many organizations, daily execution usually remains challenging. When renewing products, services or business processes, companies often encounter the same obstacles. But what if companies could learn from each other? Can innovation be streamlined by sharing successes and failures? That’s precisely what the first CREAX innovation roundtable was determined to find out. In collaboration with Oracle, we gathered a diverse group of innovation professionals for a lively debate on how to move from theorizing to getting things done. This is what we learned.

As a researcher who studies technology use by companies, I wanted to understand what happened. Who kept up? Who fell behind? And why? I considered the fact that while leaders do enjoy economies of scale in the adoption of new technologies, they may also find that adjustment costs — tasks like tweaking processes to match the flow of new software (or vice versa), hiring employees with new skill sets, or coordinating new points of contact across the organization — may increase with scale. Getting value-chain partners on board is essential for innovation and e-business success.

When it comes to innovation management, I see a growing number of companies in emerging countries like Turkey, Mexico and Brazil doing a better job than their counterparts in developed (primarily Western) countries. There are many reasons for this and here you get some of my observations.