The Mack Center examines the management challenges posed by emerging technologies at the point where scientific research reveals a technological possibility and extends its interest all the way to the commercialization of technology into lead markets. In this domain we are an acknowledged thought leader, with a distinctive position in the market for ideas. In this sense we differ from other academic institutions where the emphasis is on the R&D function.
The Mack Center examines the management challenges posed by emerging technologies at the point where scientific research reveals a technological possibility and extends its interest all the way to the commercialization of technology into lead markets. In this domain we are an acknowledged thought leader, with a distinctive position in the market for ideas. In this sense we differ from other academic institutions where the emphasis is on the R&D function.
In the field of management research we have contributed research-based insights in several areas. Four recent examples include: 1) using alliances to build competitive advantage in emerging technologies, 2) managing knowledge networks, 3) peripheral vision: sensing and acting on weak signals, and 4) the “future of biosciences.”
1. Alliances and Acquisitions. Mack Center sponsorship has produced a number of faculty research papers on alliances including a Ph.D. dissertation, and an ongoing program that includes surveys of more than 400 companies engaged in strategic alliances. This program is now being extended to the choice between acquisitions and alliances as modes of access to complementary resources. The principal contribution of this work is to gain insight into the drivers of alliance capability at the firm level, and to explain the relatively low success rates of technology alliances.
2. Managing Knowledge Networks. The Mack Center has supported ongoing research by Professor Lori Rosenkopf, in the area of alliance networks. This research on networks of organizations applies to a variety of fields (strategy, entrepreneurship, international management). In addition to faculty research, the Center has supported doctoral dissertations by more than one student including a recent award-winning dissertation by doctoral student Dovev Lavie.
For example, research reveals that network relationships do have a positive effect on innovation, under certain specific conditions, but the overall impact on financial performance is lower than the predictions based on existing theories.
3. Peripheral Vision: Sensing and Acting on Weak Signals. This topic falls at the confluence of a number of our research priorities, especially those dealing with the management of uncertainty and complexity.
Representative findings suggest that companies are not prepared to process the “weak signals” that reveal major opportunities and threats. The problem is not a lack of data but a lack of good questions. Peripheral vision as an organizational capability can be strengthened and developed, and the meaning of ambiguous signals can be revealed by a process of triangulation.
When we incorporated our ideas on “peripheral vision” into an impact conference in May 2003, we attracted nearly 100 participants in addition to an outstanding group of presenters and panelists. This packed room was a testament to the deep interest in this topic.
Our research led us to survey more than 130 companies and led to a special issue of the journal “Long-Range Planning,” a Harvard Business Review article, and finally to a book (“Peripheral Vision: Detecting the Weak Signals That Can Make or Break Your Firm”, Day & Schoemaker, 2006).
4. The Future of Biosciences. The field of biosciences offers a rare opportunity to study and monitor a set of emerging technologies that are just beginning to move from research to testing and commercialization. These areas include genomics, proteomics, stem cells, bioinformatics and other areas that can be described as “biosciences.”
We invite experts from many industries and government agencies to contribute to our research, as we develop insights on the factors that will influence commercial-ization of emerging technologies in the biosciences.
To understand these emerging technologies and how firms will participate in commercialization, we collaborated with Decision Strategies International on a scenario analysis project called The Future of BioSciences, to help visualize and describe plausible alternative futures based on trends, uncertainties, stakeholder roles and drivers. These scenarios were developed in a series of Mack Center workshops and extensive interviews with industry leaders. In Spring 2006 we joined the Biomedical Research and Education Foundation (BREF) in collaboration with Decision Strategies International to host a workshop on "The Future of Biomedical Devices" and in October 2007 we invited a select group of industry experts to a "Future of BioSciences Update" event to help us determine how best to monitor our bioscience scenarios, going forward.
The results were reported at BIO2005 and are summarized in a 130-page report, “The Future of BioSciences: Four Scenarios for 2020 and Their Implications for Human Healthcare”, May 2006, edited by Professor Paul Schoemaker and Michael Tomczyk.
The Mack Center as Disseminator
We use a number of methods to disseminate insights from our research, including working papers, articles, books, conferences, conference reports and a website.
Our first major compilation of research findings was provided in our 2000 book, Wharton On Managing Emerging Technologies, which assembled the best thinking of 17 Wharton faculty members based on research sponsored by the Emerging Technologies Management Research Program from 1994 to 2000.
The intent of this book was to apply our research to the questions of how managers assess technologies and markets, shape strategy, make investment decisions and change organization when there are high levels of uncertainty and risk.
This book is now regarded as one of the definitive statements on these topics and is often used as a textbook or resource in academic courses.
In addition to books and articles, the Mack Center designs and hosts four to five conferences and workshops each year. Recent topics include: “Globalization and Emerging Technologies,” “Using Technology to Improve Decision Making,” “Creating and Managing Networks of Innovation” and most recently (see below) “Innovation and Organic Growth: Balancing Risk and Reward.”
Mack Center programs and activities are described on our website at: http://mackcenter.wharton.upenn.edu.
This site describes our research programs and activities, lists working papers by sponsored faculty, and announces upcoming events. We recently redesigned the website and will continue to make improvements.
Summaries of events, discussions of our research agenda and other information is also reported in this newsletter, which is published twice each year.
The Mack Center as Facilitator
The most visible and influential evidence of our role as facilitator is the Annual Technology Mini Conference. This two-day conference is an invitation-only event for junior faculty in the field of technology management that helps to showcase the next generation of management researchers. Papers for presentation are selected through a competition, from both inside and outside the U.S. to share their latest thinking and research. Leading scholars in the field chair sessions and offer commentaries on the papers and major topics in the field, which helps young scholars refine their research frameworks and approaches. This event is annually held in April or May.
Perhaps our most popular annual event is the “Emerging Technologies Update Day,” a unique event held in February that brings technology champions to the Wharton campus to provide an insider’s view of innovations that are looming on the near horizon. This event was originated by Michael Tomczyk, the Mack Center's Managing Director, who hosts the event. This event is typically held on the first Friday in February. (note: the next ET Update Day will be held on Friday, February 1, 2008).
Most of the innovations presented, if successful, have the potential to transform industries, markets and firm strategies. This event is intended to keep our industry partners and faculty up-to-date on emerging technologies. The 2006 update was our 8th annual event, attended by more than 120 people. Topics have ranged from proteomics and DNA identification to solid state lighting, cars of the future, nanotechnology, RFID, supercomputers...to name a few.
The Mack Center is also a sponsor of student conferences including the annual Wharton Business Technology Conference and Wharton Entrepreneurship Conference. We also sponsor luncheons and discussions where faculty and doctoral students describe their research.
(This overview is based on a Commentary by George Day, Co-Director of the Mack Center, published in the Center's Summer 2006 newsletter)
Our role has evolved over time, and continues to evolve as we constantly explore new avenues of research and insight-building. In a recent Core Group meeting, Nicolaj Siggelkow identified three emergent roles for the Mack Center--as an incubator of new academic ideas, a disseminator of ideas, and a facilitator for knowledge building and knowledge sharing.
