New book examines how firms can leverage and create technology capital

Despite the importance of innovation for the growth of firms, industries, and the national economy, the strategic tools available to effectively manage and create new technologies are often neglected by entrepreneurs and corporate managers. A new book, "The Management of Innovation," by Alberto Galasso, a professor of strategic management at the University of Toronto's Rotman School of Management, examines how firms can leverage and create technology capital.

Over the past two decades, economists and management scholars have developed several new insights into how large companies and startups can be more innovative. Many of these research findings have not yet reached management practice. With this book, Prof. Galasso aims to address this issue by providing an accessible overview of the innovation literature and a discussion of the latest research findings.

The analysis considers the two key stages of the innovation process: technology management and technology creation. Each stage involves complex managerial decisions related to resource allocation and the assessment of relevant costs and benefits. This book examines the most frequent tradeoffs that shape the innovation process across these two stages. It also provides an introduction to intellectual property and patent analytics. The book provides MBA students and practitioners with tools and insights to innovate successfully.

Prof. Galasso holds the Rotman Chair in Life Sciences Commercialization at the University of Toronto. He is a research associate at the National Bureau of Economic Research (NBER) and research fellow at the Centre for Economic Policy Research (CEPR). He serves as co-editor for the Journal of Economics and Management Strategy, as associate editor for the Journal of Industrial Economics and the International Journal of Industrial Organization, and as member of the editorial board for the Strategic Management Journal. His research agenda focuses on the determinants of innovative activity, the management of innovation and the functioning of markets for technology.

Provided by University of Toronto