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Scheller College of Business

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Now showing 1 - 10 of 10
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    Synchronizing exploration and exploitation: knowledge creation challenges in innovation
    (Georgia Institute of Technology, 2013-11-18) Bailey, Jennifer
    Innovation requires an ambidextrous knowledge creation strategy, which is defined as the simultaneous pursuit of both exploration and exploitation. A temporal ambidexterity strategy is one in which an organizational unit dynamically balances its investments in exploration and exploitation over time. This thesis provides new insights on various factors which should be considered when developing and executing a temporal ambidexterity strategy. In the Essay 1, I empirically examine the impact of exploration, exploitation and learning from cumulative innovation experience on the likelihood of successfully versus unsuccessfully generating a breakthrough innovation. The data sample, based on patents in the biomedical device industry, is drawn from the National Bureau of Economic Research patents database. I demonstrate three important tenets for developing a theory of temporal ambidexterity. First, I confirm, as conceptually expected, that when pursued independently, exploration and exploitation have opposing variance-generating versus variance-reducing impacts on innovation performance, respectively. Second, I find that when pursued jointly exploration and exploitation have a negative interaction effect on innovation performance. Third, I show that the benefits of ambidexterity accrue in the long-term, as a result of learning from prior failure experience. However, I demonstrate that prior failure experience and exploitation are jointly necessary, but not independently sufficient, for learning from failure to occur. In Essay 2, I introduce a dynamic optimization model of temporal ambidexterity. I examine the optimal sequencing of exploration and exploitation knowledge creation activities throughout the innovation process. I consider how an innovation manager’s optimal dynamic investments in exploration and exploitation are driven by the innovation team’s knowledge creation capabilities and prior innovation experience, and by the manager’s short-term and long-term innovation risk objectives. The results demonstrate the conditions under which various temporal ambidexterity strategies endogenously arise. Finally, in Essay 3, I extend the single firm model introduced in Essay 2, to develop a model of temporal ambidexterity for two firms jointly pursuing knowledge creation and knowledge-sharing under co-opetition. Here, I consider how co-opetition, that is, cooperative knowledge-sharing with a competitor, impacts a firm’s optimal ambidextrous knowledge creation strategy. I consider two-way knowledge sharing, and I assume that each firm freely reveals its knowledge to its competitor, without receiving compensation. The dynamic analytical results contribute to the open questions regarding optimal knowledge-sharing strategies under co-opetition, by demonstrating under what conditions knowledge-sharing with a co-opetitive partner is beneficial. Importantly, I also analytically examine the factors which drive empirically observed alliance dysfunctions, wherein organizations delay knowledge-sharing and withhold information from their alliance partners.
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    Essays on knowledge management
    (Georgia Institute of Technology, 2013-01-04) Xiao, Wenli
    For many firms, particularly those operating in high technology and competitive markets, knowledge is cited as the most important strategic asset to the firm, which significantly drives its survival and success. Knowledge management (KM) impacts the firm's ability to develop process features that reduce manufacturing costs, product designs with the features and functionality to match consumer demand, and time to market. Unfortunately, many firms lack an understanding of how to develop and exploit knowledge capabilities for success. In this thesis I develop a rich and multifaceted understanding of how KM strategies lead to successful outcomes for a firm. The thesis comprises three essays, described below. The first essay (Chapter 2) examines how volume-based learning influences the relationship between a buyer and supplier in a two-period Stackelberg game. Three types of knowledge management practices are considered. First, in contrast to the literature, I recognize that knowledge accumulated from current in-house production contributes to the buyer's future product and process development efforts. Second, I allow the supplier to invest in integration process improvement (a form of knowledge development) to reduce the buyer's integration cost. Therefore, the supplier has two mechanisms to impact the buyer's demand: price and process improvement. Lastly, both the buyer and supplier benefit from volume-based learning that reduces their respective production costs. I provide conditions under which the buyer partially outsources component demand as opposed to fully outsourcing or fully producing in-house. In addition, I identify conditions for which the supplier's price and investment in integration process improvement can serve either as substitutes or complements. In the second essay (Chapter 3), I consider knowledge development (KD) strategies in a new product development (NPD) project with three stages of activities conducted concurrently: prototyping, pilot line testing, and production ramp-up. I capture the link between successive stages of engineering activities by recognizing that knowledge accumulated in one stage and transferred to another stage improves the efficiency of knowledge development in the recipient stage. A Base Model and two extensions are introduced that differ in the manner in which knowledge transfer (KT) occurs. I find that the NPD manager pursues different dynamic strategies for KD in each stage of the project. In addition, I explore how the effectiveness of KD and the returns to KT impact the optimal strategies adopted in each stage. In the third essay (Chapter 4), I introduce a dynamic model to explore the impact of KT on a manager?s pursuit of an existing product improvement project and a new product development project. These two projects consume costly knowledge development resources. A key feature of the model is the characterization of the knowledge transfer process from the new product development project to the existing product improvement project. As a result of KT, the ability of the existing product improvement project to generate new knowledge is enhanced. However, the ability of the new product to generate expected net revenue when it is released to the marketplace is reduced due to the loss of proprietary knowledge. I obtain dynamic optimal strategies of KD in both projects and the optimal strategy of KT from the new product development project to the existing product improvement project.
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    Essays on knowledge management strategies in new product development
    (Georgia Institute of Technology, 2009-01-02) Ozkan, Gulru F.
    Management of knowledge involved in the new product development (NPD) projects is critical to the success of firms competing in environments that require rapid innovation. Unfortunately, many firms lack an understanding of how to develop knowledge management (KM) strategies that drive successful outcomes. In this thesis I develop a rich and multifaceted understanding of how KM strategies drive successful NPD outcomes. I examine KM strategies for NPD at two different decision making levels. First, I consider the how the manager of a single NPD project should pursue knowledge acquisition for its product and process design teams and knowledge transfer between the teams over time throughout the development project. The ability to develop and integrate knowledge drives the net revenue earned at the product release time. I show that two different dynamic KM strategies arise: a delay strategy and a front-loading strategy. I characterize drivers of each strategy and the drivers of the market entry time strategy. In contrast to the deterministic approach above, I introduce a stochastic model. The manager of a single NPD project maximizes expected net revenue which reflects the effectiveness of product and process development. I consider the effect of rework that occurs as a result of the KM activities. Although manager's strategies for knowledge creation satisfy either the delay or front-loading strategy the drivers of each strategy in this model are substantially different from those in the first model reflecting the stochastic nature of the project and the effect of rework. In a third model, I consider the strategic level question of how a firm engages in relationships with its competitor regarding the sharing or transfer of knowledge resources for NPD. I consider two cooperative mechanisms: knowledge transfer when both firms ultimately enter the market separately as competitors versus knowledge sharing when both firms enter the market together following the joint development of a new product. In this thesis, I develop the KM strategies followed by the firms for each cooperation mechanism. In addition, I analyze the impact of firm and market characteristics on firms decision to whether to cooperate or not, and other KM decisions.
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    Strata, Structure, and Strategy for Resource Allocation and New Product Development Portfolio Management
    (Georgia Institute of Technology, 2007-07-09) Chao, Raul O.
    Innovation and new product development (NPD) are critical to firm success and are often cited as means to a sustained competitive advantage. Unfortunately, the question of which innovation programs to pursue and how they should be funded is not trivial. This thesis examines the resource allocation and NPD portfolio problem. Special emphasis is placed on the organizational and behavioral factors that influence this problem. In doing so, we adopt a hierarchical perspective and posit that the resource allocation and NPD portfolio problem acquires a unique structure depending on the level at which the problem is considered. Beginning at the firm level, each study attempts to break open a black box to understand the drivers of effective resource allocation and NPD portfolio decisions at successively more detailed levels of analysis. We begin with an analysis of the firm's total R&D investment and we show how R&D intensity (the percentage of revenue that is reinvested in R&D) depends on a combination of NPD portfolio metrics and operational variables. We then extend the analysis to reveal how a simple evolutionary process explains the often cited consistency in R&D intensity at the industry level. Next, we analyze how the R&D investment is partitioned into "strategic buckets" consisting of NPD programs that are characterized by type of innovative activity (incremental or radical). We show how time commitment, technological/market complexity, and potential disruptions to the technology/market environment influence the balance between incremental and radical programs in the NPD portfolio. Finally, we analyze how individual NPD programs are funded and how they evolve over time in an organization setting that is defined by more or less autonomy. We find that how best to allocate resources depends on two types of autonomy bestowed upon managers: autonomy with respect to NPD funding and autonomy regarding how the NPD budget is monitored and controlled. We conclude with a discussion of the theoretical and managerial implications of our work.
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    Joint Product Development and Inter-firm Innovation
    (Georgia Institute of Technology, 2006-05-18) Erat, Sanjiv
    This thesis examines the strategic drivers and processes governing the development of products and/or technologies by multiple economic entities. The thesis adopts an operational approach in addressing the question and examines the how of joint product development. For this purpose, the different mechanisms that enable joint product development licensing, outsourced development, and codevelopment are considered, and the focus is restricted to the analysis and characterization of the optimal management of joint product development mechanisms. Regarding the mechanism of licensing, the thesis examines both its dynamic inter-temporal implications (i.e., how licenses should be structured given that licensing will also occur in the future) as well as the role of the technology in question (i.e., how are licenses affected by the type of technology being licensed). Along the first dimension, the thesis finds that license fees (and the negotiation with potential licensees) may be structured so as to induce a controlled diffusion depending on the technology roadmap the provider firm has laid out for the future. On the second dimension, the study finds that when the technological solution being licensed requires minimal integration from the licensees side, it may be beneficial to restrict attention to a few potential licensees instead of licensing to the entire market. On the codevelopment side, the thesis presents an original case study that uncovers some of the salient features present in many joint development efforts. Subsequently, a mathematical model is proposed that captures the key dimensions of the phenomenon that were identified through the case study. Analysis of the normative model reveals the key role of market and development uncertainty in structuring the formal contractual agreements and sharing the value created through the codevelopment effort.
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    Process improvements for manufacturing excellence
    (Georgia Institute of Technology, 1997-05) Carrillo, Janice E.
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    Improvement in productivity and quality from information technology-worker systems
    (Georgia Institute of Technology, 1997-05) Napoleon, Karen J.