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The Architecture of Innovation: The Economics of Creative Organizations

Author

Listed:
  • Lerner, Josh

    (Jacob H. Schiff Professor of Investment Banking, Harvard Business School)

Abstract

The developed world is struggling with unsustainable promises and unappealing choices, and sustained economic growth represents one of the few ways out. And over the centuries, growth in advanced economies has been strongly linked to innovation. Despite the vast amounts written about innovation over the years, understanding of its drivers remains surprisingly limited. This book, by top Harvard Business School professor Josh Lerner, seeks to remedy this shortfall. It highlights that while organizational economists have made strides in understanding what combinations of incentives and organization structure can encourage innovative breakthroughs, many of these insights have not yet received the attention they deserve in the real world, or been developed in ways that can easily be applied in real situations. The author focuses on two models for encouraging innovation, the corporate research laboratory and the start-up. Each model, while proven and successful, also faces significant challenges and ambiguities. A central argument is that there remains considerable potential for hybrids between these two approaches. This book draws on important research in economics and reviews different approaches to innovation, combining this with a series of case examples to explore the challenges that face start up firms, large firms, and nations. It is essential reading for anybody faced with the challenge of innovation.

Suggested Citation

  • Lerner, Josh, 2012. "The Architecture of Innovation: The Economics of Creative Organizations," OUP Catalogue, Oxford University Press, number 9780199639892.
  • Handle: RePEc:oxp:obooks:9780199639892
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    Citations

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    Cited by:

    1. Schrape, Jan-Felix, 2017. "Open source projects as incubators of innovation: From niche phenomenon to integral part of the software industry," Research Contributions to Organizational Sociology and Innovation Studies, SOI Discussion Papers 2017-03, University of Stuttgart, Institute for Social Sciences, Department of Organizational Sociology and Innovation Studies.
    2. Josh Lerner & Greg Rafert, 2015. "Lost in the Clouds: The Impact of Changing Property Rights on Investment in Cloud Computing Ventures," NBER Working Papers 21140, National Bureau of Economic Research, Inc.
    3. Ramana Nanda & William R. Kerr, 2015. "Financing Innovation," Annual Review of Financial Economics, Annual Reviews, vol. 7(1), pages 445-462, December.
    4. repec:spt:admaec:v:8:y:2018:i:4:f:8_4_1 is not listed on IDEAS
    5. Marina Flamand & Vincent Frigant, 2017. "The limited interest of carmakers in corporate venture capital: insights from a mature industry," Venture Capital, Taylor & Francis Journals, vol. 19(4), pages 263-283, October.
    6. William R. Kerr & Ramana Nanda & Matthew Rhodes-Kropf, 2014. "Entrepreneurship as Experimentation," Journal of Economic Perspectives, American Economic Association, vol. 28(3), pages 25-48, Summer.
    7. Sunny Sun & Xiaoming Yang & Weiwen Li, 2014. "Variance-enhancing corporate entrepreneurship under deregulation: An option portfolio approach," Asia Pacific Journal of Management, Springer, vol. 31(3), pages 733-761, September.
    8. repec:eee:tefoso:v:136:y:2018:i:c:p:178-191 is not listed on IDEAS
    9. Vincent FRIGANT & Marina FLAMAND, 2015. "The diversity of carmakers\' behaviors vis-a-vis the Corporate Venture Capital," Cahiers du GREThA 2015-24, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
    10. repec:eee:tefoso:v:140:y:2019:i:c:p:271-280 is not listed on IDEAS
    11. Ajay K. Agrawal & Iain M. Cockburn & Alberto Galasso & Alexander Oettl, 2012. "Why are Some Regions More Innovative than Others? The Role of Firm Size Diversity," NBER Working Papers 17793, National Bureau of Economic Research, Inc.
    12. Onur Bayar & Thomas J. Chemmanur & Mark H. Liu, "undated". "How to Motivate Fundamental Innovation: Subsidies versus Prizes and the Role of Venture Capital," Working Papers 0175fin, College of Business, University of Texas at San Antonio, revised 06 Jan 2016.
    13. Alexander KLIMCHUK & Veronika CHALA, 2016. "Towards The Morphology Of Creative Business-Model In Ukraine," EURINT, Centre for European Studies, Alexandru Ioan Cuza University, vol. 3, pages 235-252.
    14. Agrawal, Ajay & Cockburn, Iain & Galasso, Alberto & Oettl, Alexander, 2014. "Why are some regions more innovative than others? The role of small firms in the presence of large labs," Journal of Urban Economics, Elsevier, vol. 81(C), pages 149-165.
    15. Jochen Schlapp & Nektarios Oraiopoulos & Vincent Mak, 2015. "Resource Allocation Decisions Under Imperfect Evaluation and Organizational Dynamics," Management Science, INFORMS, vol. 61(9), pages 2139-2159, September.
    16. repec:bof:bofrdp:urn:nbn:fi:bof-201512141480 is not listed on IDEAS

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