Managing Intellectual Capital: Organizational, Strategic, and Policy Dimensions

By David J. Teece | Go to book overview

Preface

This monograph originated with the Clarendon Lectures which I presented at Oxford in May of 1998. However, it draws on my scholarship and writings (together with some of my students and professional colleagues) over at least a decade. The thread pulling it all together is the management of innovation, a topic that has interested me over my entire professional career, but which has recently taken additional salience, given the growing importance of innovation to economic prosperity and wealth creation. My home university—the University of California at Berkeley—sits on the edge of a boiling cauldron of innovation and entrepreneurship. Very often the management of these new enterprises is conducted by brilliant novices often quite bereft of the benefits available from experiences elsewhere. While there are many notable successes, the field is littered with thousands of failures. Some that failed need not have done so. This is one reason why I would like the management of innovation and intellectual capital to be better understood.

In this monograph, I endeavour to provide frameworks as well as practical advice (based on the frameworks) with respect to several aspects of innovation. In particular, I look at the organizational structures most likely to support it; and I also look at how managerial decisions and strategy affect the division of the gains from innovation. I go further than I have elsewhere to analyse licensing strategy in some detail. I often use what might appear as rather ancient illustrations—e.g. Pilkington's experience with licensing float-glass—because I believe that these experiences are still quite relevant, especially as to questions relating to the structure of licensing contracts, a topic about which there is very little scholarship.

I trust the book will be useful not only to scholars, but to managers as well. Parts I and III are written in a style that hopefully will be acceptable to practitioners as well as academics. Parts II and IV are somewhat more 'academic'. Since there is not a lot written about some of the subject matter I have chosen, I trust my rough preliminary thinking on the issues will be forgiven to the extent to which the ideas are not fully developed or thoroughly tested. My aim in this book is to occupy a middle ground between managerial aphorisms and middle-brow organizational and strategic theorizing. It, of

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