Toronto – Despite the importance of innovation for the growth of firms, industries, and the national economy, the strategic tools available to effectively manage and create new technologies are often neglected by entrepreneurs and corporate managers. A new book, The Management of Innovation, by Alberto Galasso, a professor of strategic management at the University of Toronto’s Rotman School of Management, examines how firms can leverage and create technology capital.
Over the past two decades, economists and management scholars have developed several new insights into how large companies and startups can be more innovative. Many of these research findings have not yet reached management practice. With this book, Prof. Galasso aims to address this issue by providing an accessible overview of the innovation literature and a discussion of the latest research findings.
The analysis considers the two key stages of the innovation process: technology management and technology creation. Each stage involves complex managerial decisions related to resource allocation and the assessment of relevant costs and benefits. This book examines the most frequent trade-offs that shape the innovation process across these two stages. It also provides an introduction to intellectual property and patent analytics. The Management of Innovationprovides MBA students and practitioners with tools and insights to innovate successfully.
The Management of Innovation: Managing and Creating Technology Capital is published by Rotman-UTP Publishing, an imprint of University of Toronto Press. A launch for the book will be held at the Rotman School of Management on June 11.
Prof. Galasso holds the Rotman Chair in Life Sciences Commercialization at the University of Toronto. He is research associate at the National Bureau of Economic Research (NBER) and research fellow at the Centre for Economic Policy Research (CEPR). He serves as co-editor for the Journal of Economics and Management Strategy, as associate editor for the Journal of Industrial Economics and the International Journal of Industrial Organization, and as member of the editorial board for the Strategic Management Journal. His research agenda focuses on the determinants of innovative activity, the management of innovation and the functioning of markets for technology.
Advance Praise
“The Management of Innovation is a significant contribution to the field of technology strategy, offering a lucid and insightful exploration that is beneficial for students, academics, and practitioners. Alberto Galasso effectively bridges the gap between complex research and practical application, particularly in his treatment of patent analytics, the influence of product liability on innovation, and the strategic considerations in innovation contests. This work stands out as a foundational resource for those seeking to understand the multifaceted nature of managing technological innovation.” --- Karim R. Lakhani, Dorothy & Michael Hintze Professor of Business Administration and Chair of the Digital Data Design (D^3) Institute, Harvard Business School
“This important book on the management of innovation is an indispensable handbook for practitioners, a comprehensive research reference for scholars, and an ideal textbook for undergraduate and masters-level courses in innovation. Galasso is masterful at translating key insights from the academic literature into practical strategies for bringing an innovation to market. In this gem, he demystifies the patent application process while unveiling a wealth of strategic data and fascinating analytics. The Management of Innovation offers a novel perspective on the profound impact that product safety and liability risk can have on an innovation’s success.”
Nancy Gallini, Professor Emeritus in the Vancouver School of Economics, University of British Columbia
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For more information:
Ken McGuffin
Manager, Media Relations
Rotman School of Management
University of Toronto
E-mail: mcguffin@rotman.utoronto.ca