Gary Pisano
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Manufacturing's central role in global innovation
Companies compete on the decisions they make. For years-even decades-in response to intensifying global competition, companies decided to outsource their manufacturing operations in order to reduce costs. But we are now seeing the alarming long-term effect of those choices: in many cases, once manufacturing capabilities go away, so does much of the ability to innovate and compete. Manufacturing, it...
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Science-based industries such as biotechnology offer the potential of high growth, but they are fraught with risk. The payoffs can take many years to materialize or may never come. Even though the traditional venture capital/entrepreneurial model has been shown to stimulate innovation in a wide range of technology settings (software, computers, Internet, electronics, et cetera), it wasn't designed to deal with the costs, risks, and slow payout of...