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Business Organizations/Management review - Book Report/Review Example

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Wharton on Emerging Technologies In the current world, technology is one of the most important aspects of any field, may it be business or study. Technologies that have evolved from various fields including internet and biotechnology can be of great importance in helping existing industries or firms in expanding, improving and transforming them, while also creating new industries…
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Business Organizations/Management book review
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Download file to see previous pages However, it has been witnessed quite a few times by the society that smaller firms, which may not seem like a threat to the incumbent firms, surpass them. The incumbent firms, although have access to superior resources often are not as successful as smaller, emerging firms in coming up with emerging technology. The question arises, what is the difficulty that major firms face in developing emerging technology and how can they learn to handle and overcome the problem? Wharton on Managing Emerging Technologies edited by George S. Day, Paul J. H. Shoemaker & Robert E. Gunther is a book that consists of 18 separate articles related to the topic of emerging technologies written by faculty at the Wharton School. The book allows us to learn in depth of a number of aspects that play an important role in the field of emerging technology. The book covers a range of topics including the pitfalls of emerging technology, the methods of assessing them, the way that the policy is capable of affecting the people, and the effects it has on the financial side. Wharton on Managing Emerging Technologies discusses the strategies, tools and frameworks suggested by leading business individuals, from the conclusions that were derived from the Wharton's Emerging Technologies Management Research Program. The book is perhaps one of the most beneficial studies in the field of management of emerging technologies. It covers a wide range of issues in relation to the topic of successful management of emerging technologies. Interesting aspects covered in the book The view that the editors of the book have regarding the management of emerging technologies is that it is a “different game” which requires management skills, strategies and framework much different from the usual management processes implemented to manage technology that is already in existence in firms that have been around for more than a while. This proved to be a very interesting topic as it sheds light on the reasons behind the need for a whole new set of management skills for the proper implementation of emerging technologies. Other aspects that are covered in the book are the common pitfalls in managing emerging technology faced by the incumbent firms and potential solutions, assessment of potential new markets by successful strategies and designing new technologies, while also taking advantage of what is known as the “market lumpiness”, the importance of scenario planning which will help in developing strategies in events of uncertainty, the limits of patents in protecting gains from technology, and the use of lead time and other strategies. Some more aspects covered are the importance and efficiency of innovative financial strategies, use of original options and investments, usage of other organizational forms and the development of customized workplace. All the topics presented in the book are interesting in their own ways. However, the topics that were most interesting were “Different Game”, “Pitfalls of Managing Emerging Technologies” and "Using alliances for competitive advantage". This paper discusses these topics in detail, while also talking of the strengths and weaknesses of the book, giving importance to the most valuable point made in the book. Different game The lesson on how the management ...Download file to see next pagesRead More
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