• Know the common approaches to profit from innovations and technologies.
• Identify and evaluate the key activities, resources, and players that are necessary to develop different technology strategies.
• Understand the impact of technology strategies on sustainable competitive advantages.
• Choose the right strategies for profiting from technology in different environments.
• Apply the analytic framework to craft technology strategies for specific incumbent firms and startups.
• Understand the limitations to technology strategies and practices.
• Summarize 3-5 most cited academic literature about innovation management, entrepreneurship, economics, and organization.

Just like financial and human resources, technology has critical importance in organizations, and the management of technology is a basic business function. Just as we need financial or human resource strategies, organizations need to develop a technology strategy, which serves as a basis for the overall company strategy.

In this course, technology strategy will be studied by analyzing the economic and strategic factors that guide - or should guide - firms' decisions regarding the generation, commercialization, protection, and adoption of technological innovations. The emphasis is on the development and application of economic and strategy tools which are critical for insightful long-term planning when deciding the sources of innovation (internal vs. external), how much to invest in internal R&D, whether to seek intellectual property protection, whether to develop and commercialize an invention in-house or sell it through arm's-length licensing contracts, or other cooperative strategies such as joint ventures or the sale of a technology-based firm's equity. Topics including platforms and digitalisation, economies of agglomeration, AI tools, university-industry collaborations will also be discussed.

Technology markets are analyzed from both a seller's and buyer's perspective. Internal technology commercialization may entail the exploitation of first-mover advantages or specialized downstream capabilities. Other topics covered include the analysis of situations, increasingly observed in several high-tech industries, where firms create and accumulate technological innovations without exploiting them directly, using them instead for technological negotiations with other firms or for preempting potential rivals from entering an industry.

Core reading:

Kuratko, DF, & Hoskinson, S. (2016). Technological innovation: Generating economic results . Emerald Group Publishing. (eBook available on CBS library)

Schilling, Melissa A. (2019). Strategic Management of technological innovation (6th edition), McGraw-Hill, New York.

 Additional literature:

Arora, A., & Ceccagnoli, M. (2006). Patent protection, complementary assets, and firms' incentives for technology licensing. Management science , 52(2), 293-308.

Boudreau, KJ, & Hagiu, A. (2009). Platform rules: Multi-sided platforms as regulators. Platforms, markets and innovation, 1, 163-191.

Fisher III, WW, & Oberholzer-Gee, F. (2013). Strategic management of intellectual property: an integrated approach. California management review , 55(4), 157-183.

Gassmann, O., Enkel, E., & Chesbrough, H. (2010). The future of open innovation. R&d Management , 40(3), 213-221.

Gawer, A., & Cusumano, MA (2014). Industry platforms and ecosystem innovation . Journal of product innovation management , 31(3), 417-433.

Gompers, P., & Lerner, J. (2001). The venture capital revolution. Journal of economic perspectives, 15(2), 145-168.

Graebner, ME, Eisenhardt, KM, & Roundy, PT (2010). Success and failure in technology acquisitions: Lessons for buyers and sellers. Academy of management perspectives , 24(3), 73-92.

Hagiu, A., & Wright, J. (2015). Multi-sided platforms. International Journal of Industrial Organization , 43, 162-174.

McIntyre, DP, & Srinivasan, A. (2017). Networks, platforms, and strategy: Emerging views and next steps. Strategic management journal , 38(1), 141-160.

Pisano, GP (2015). You need an innovation strategy. Harvard business review , 93(6), 44-54..

Teece, DJ (1986). Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy. Research policy , 15(6), 285-305.

For the purpose of in-class discussion, other readings, such as cases, press articles, and short exercises will be indicated before and during the course.