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ICMIT 2016

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ICMIT 2016

“Managing New Technology using Malleable Profit Functions”

20 Sep, 09:15 - 10:00

Moren LÉVESQUE
IEEE TEM Department Editor
IEEE Transactions on Engineering Management
Professor of Operations Management and Information Systems
CPA Ontario Chair in International Entrepreneurship
York University, Canada

Abstract

Technological innovation drives economic growth, and the pioneering activity of scientists and engineers produce technological innovation. We provide a mathematical model of pioneering strategic choice by adopting a perspective familiar to micro-economics but less common in the engineering management literature. Instead of focusing on the specific features of a pioneer’s technology, we focus on the malleability of the profit equation involved. By considering the arguments of the profit function (i.e., entry and variable costs and potential market demand) as strategic levers, we derive propositions that identify the ranges of actions (lever-pulling) available to managers to protect (and even increase) entrepreneurial rents in a simple yet robust partial equilibrium case. For each lever, we show that there are several value ranges (intervals), and that the pioneer’s incentives vary across these intervals. In addition, for each lever, we identify the existence of non-trivial profit discontinuities that change the pioneer’s incentives in surprising ways and lead to counterintuitive strategic choices. Lastly, we show that for some range of each lever’s values, welfare-improving transfer payments are possible and, therefore, pioneers and policy-makers both have an incentive to bargain. As in the case of patents, these transfers encourage the introduction of new technologies.

Our contribution to practice consists in encouraging managers to build capabilities in lever-pulling – i.e., lowering or increasing entry or variable costs, or potential market penetration, especially if their firm is expected to pioneer often. Specifically, our arguments provide a comprehensive and intuitive way to think about profits and their determinants not simply as an outcome but as a malleable strategic tool capable of influencing the potential entry of competitors. When research, development and engineering (RD&E) functions are important, the strategic manipulation of entry cost, variable costs and market size (the parameters of the profit function) may allow pioneers to maintain a leadership position. While the strategic manipulation of each of these strategic ‘levers’ has been discusses in previous works, we provide managers with a way to think holistically about the conditions under which each of the three options should be preferred and why. Furthermore, we identify the range of each lever’s values that make welfare-improving transfer payments possible. That is, we provide managers with a way to think about how to create favorable conditions for potential lobbying efforts aimed at encouraging policy-makers to arrange for the support of pioneering RD&E activities.

Biography

Moren Lévesque is Professor and the CPA Ontario Chair in International Entrepreneurship at York University’s Schulich School of Business. She holds a Ph.D. in Management Science from the University of British Columbia and M.Sc., B.Sc. in Mathematics from Université Laval. Moren has been on the faculty at Université Laval, Carnegie Mellon University, Rensselaer Polytechnic Institute, Humboldt Universität, Case Western Reserve University, and the University of Waterloo as a Canada Research Chair in Innovation & Technical Entrepreneurship. Her research applies the methodologies of analytical and quantitative disciplines to the study of decision making in new business formation. Her work appears in Entrepreneurship Theory and Practice, European Journal of Operational Research, IEEE Transactions on Engineering Management, Journal of Business Venturing, Journal of Management Studies, Long Range Planning, Organization Science, Production and Operations Management, Strategic Entrepreneurship Journal and Strategic Management Journal, among other research outlets. She has served the Academy of Management’s Entrepreneurship Division as a member of its Research Committee and its Midwest Regional Liaison, as well as the Chair of its Membership Committee. She has also served for a 5-year term as an officer for the Institute for Operations Research & Management Science’s (INFORMS) Technology, Innovation Management and Entrepreneurship Section. She is currently a Department Editor at the IEEE Transactions on Engineering Management and a senior editor at Production and Operations Management.

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ICMIT 2016

“The Evolution of an Innovation Ecosystem: Lessons from Cambridge, UK”

21 Sep, 09:00 - 09:45

Tim MINSHALL
Reader in Technology and Innovation Management
Institute for Manufacturing
University of Cambridge, United Kingdom

Abstract

This paper analyses the evolution of strategies and structures to support innovation and entrepreneurship within the University of Cambridge in the period 1995-2015. Our analysis is structured at three levels: national policies; the strategic responses of the University of Cambridge to national policies; and university-level implementation activities. All of these are positioned within the evolving context of the Cambridge high technology business cluster.

This paper draws upon a wide range of secondary data on UK science, technology and innovation policies accessed from public databases, interviews with staff at the University of Cambridge involved in the setup and management of innovation and entrepreneurship support programmes, and data archived through the direct involvement of the authors in a range of national and local innovation support activities throughout the period of this analysis. The analysis is framed by the literature on university technology transfer, national innovation systems, regional economic clusters, and innovation and entrepreneurship policy.

There are three key findings from this analysis. Firstly, the national policies to support university-based innovation and entrepreneurship in the UK can be seen to have followed three distinct phases, and these national-level phases were mirrored in the strategic and operational responses of the University of Cambridge. Secondly, the developments within the University benefited from the strong engagement of the local business community, and the regional cluster itself benefited from the development of the University's activities. Thirdly, boundaries between activities targeted at innovation (knowledge to dollars') and those focused on research ('dollars to knowledge') have become much more blurred and can be viewed as a complex ecosystem rather than a simple linear process from pure research to applied research to market application.

From this analysis (and with full recognition of the contextual dependent nature of our results), guidance for university administrators and innovation/entrepreneurship policymakers is suggested.

Biography

Tim Minshall is a Reader in Technology and Innovation Management at the University of Cambridge Department of Engineering. His teaching and research is focused on developing understanding of how emerging technologies are used to deliver new products and services. His specific research interests are open innovation, advanced production technologies, and engineering education.

He is a Non-Executive Director of St John's Innovation Centre Ltd (Cambridge), a Visiting Professor at Doshisha University (Kyoto), and a member of the UK Institution for Engineering and Technology (IET) Innovation and Emerging Technologies Policy Panel. He is a member of steering committees for ideaSpace Enterprise Accelerator, Cambridge University Entrepreneurs, Cambridge i-Teams, VentureFest East, and the UK National Strategy for Additive Manufacturing. In 2012 he was a recipient of a University of Cambridge Pilkington Prize for Teaching Excellence and a Royal Academy of Engineering/ExxonMobil Excellence in Teaching Award. He is actively involved in a range of outreach activities to raise awareness of engineering among primary and secondary schoolchildren (www.whatengineersdo.info). He has B.Eng. from Aston University (UK) and a PhD from Cambridge University Engineering Department (UK).

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ICMIT 2016

“The National Innovation System: From Policy to Practice”

21 Sep, 11:00 - 11:45, Salon A

Mullika SUNGSANIT
National Science Technology & Innovation Policy Office, Thailand

Biography

Dr. Mullika Sungsanit , the program coordinator of the Innopreneurship and Business Design program, received her Ph.D. in Education (Human Resource Development), University of Minnesota, USA, M.B.A. Human Resource Management, Fairleigh Dickinson University, USA.. She is currently a lecturer at Suranaree University of Technology (SUT) (Thailand). She is an InfoDev-WorldBank consultant and certified trainer, and a former manager of SUT Business Incubator and Intellectual Properties Management Office. She has more than 10 years of experience in entrepreneurship development. She developed and delivered the training program for Women Entrepreneurs in the Mekong (Mekong Women Entrepreneurship Challenge Program: MWEC Program); i.e., Laos, Vietnam, and Cambodia, and for the Caribbean (Women Innovator Network in Caribbean: WINC, the GyB : Grow your Business Program).
She is currently developing and testing a model for developing entrepreneurial skills and mindset for Science and Technology students for SUT and also for the CHE. Her research interests are about entrepreneurship development, entrepreneurship education, innovation and organization performance, performance improvement, and managing a growing venture.

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ICMIT 2016

“Battle Proven Approach to Develop Innovations and Ventures”

21 Sep, 09:45 - 10:30, Salon A

Isada HIRANWIWATKUL
Boston Consulting Group, Thailand

Biography

Isada is a Partner and Managing Director of BCG. He is currently leads theing BCG office in Bangkok. He has extensive consulting experience in the US, South East Asia, and Thailand. He currently advises a number of large Thai companies on the topic of strategy, digital and organization. Isada has an MBA from MIT Sloan School of Management where he is also elected a Sloan Senate, the student body representative.