Wharton on Managing Emerging Technologies

Emerging technologies, according to Wharton School professors Day and Schoemaker, are "science-based innovations that have the potential to create a new industry or transform an existing one." Their book brings together insights and research from managers and academic experts on fundamental issues relating to the management of such technologies. In an environment characterized by high levels of uncertainty, ambiguity, and complexity, they say, managers are faced with the challenge of rethinking and retooling their approaches in a new context. The two editors set the stage in the first two chapters by contrasting established and emerging technologies and identifying common difficulties faced by managers making the transition. Other contributors examine such parts of the technology management process as evaluation of technologies, assessment of market potential, strategy development, financing, and organizational design. Managers will find this book valuable for successfully combining theory and practice in an area that demands rethinking of traditional practices in all management functions.