Profiting from innovation: How to maximize rent

Abstract

Purpose

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

Innovation is serendipity. That is the view of Tim Berners-Lee, the UK scientist whose invention of the World Wide Web takes pride of place on his CV. But whether breakthrough developments are more down to accident than intent is the question. What really matters is that they constitute a vital component of business success. Businesses organizations naturally seek to maximize the returns from their innovation activities. Prosperity and even survival often depend on being able to do so. However, it is rarely that simple. Numerous factors typically come into play, which are outside the firm’s control. Securing the desired levels of value and profit thus demands that sophisticated commercialization strategies are in place.

Practical implications

The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Citation

(2014), "Profiting from innovation: How to maximize rent", Strategic Direction, Vol. 30 No. 11, pp. 39-42. https://doi.org/10.1108/SD-09-2014-0124