Strategic factor markets: expectations, luck, and business strategy
Management Science
Central problems in the management of innovation
Management Science
The innovator's dilemma: when new technologies cause great firms to fail
The innovator's dilemma: when new technologies cause great firms to fail
Designing Complex Organizations
Designing Complex Organizations
Deliberate Learning and the Evolution of Dynamic Capabilities
Organization Science
Evaluating patents using damage awards of infringement lawsuits: A case study
Journal of Engineering and Technology Management
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This paper presents a model for the governance of radical innovation (RI) efforts within the firm. A longitudinal study of 12 large established companies committed to develop and institutionalize a radical innovation capability are used to inform our work. Thus the firm, rather than the RI project, is the unit of analysis for this work. We draw on Agency Theory, Firm Level Governance, Stewardship Theory and Stakeholder Theory as well to enrich the model. We find that none of these theoretical frames adequately describes the issues faced by companies as they build governance systems to oversee high risk, high uncertainty innovation portfolios. A series of propositions is offered based on the data analysis and extant literature that address board composition, decision style and decision processes that, we believe, enhance a company's ability to generate and commercialize radical innovations.