Wharton on Managing Emerging Technologies

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Emerging technologies like the Internet and biotechnology can revolutionize industries, yet established firms often struggle to adapt, losing ground to smaller competitors. This book offers insights and frameworks from Wharton's Emerging Technologies Management Research Program, a significant initiative that began in 1994. It compiles essential knowledge for managers on the unique challenges of managing emerging technologies, emphasizing that this requires different skills and strategies than those used for existing technologies. Experts from various fields address common pitfalls for incumbents and propose strategies for assessing new market potentials and designing technologies that leverage market irregularities. The book highlights the importance of scenario planning and "disciplined imagination" in navigating uncertainty, as well as the limitations of patents in safeguarding technological advancements. It explores innovative financial strategies, the role of alliances, and the creation of customized workplaces. This volume serves as a survival kit for managers facing the complexities of new technologies, providing a comprehensive set of tools and insights to develop effective strategies. With praise from notable academics, it underscores the necessity for better management approaches in an era of rapid technological change.