Institute for Business Innovation
Awards & Recognition
Chesbrough a Leader in New Field of Services Science
Lester Center named NASDAQ Center of Entrepreneurial Excellence
Special Journal Issue, Conference Honor Teece’s Seminal Profiting from Technology Innovation
Professor Teece Named Tenth Most Cited Business and Economics Scholar
Entrepreneurship at Haas Ranks Among Top-Tier National Programs
Industrial and Corporate Change Scores High ISI Impact Factor
Williamson Wins Economics Prize
Fisher Center’s Hendershott Wins Schwabacher Award
Haas Professor David Teece Receives Honorary Doctorate
Chesbrough's Open Innovation Wins Book and Article Awards
Scientific American names Henry Chesbrough among 2003’s top 50 innovators
UC Berkeley Technology Management Expertise Sought by Japanese Press
Chesbrough a Leader in New Field of Services Science
The services sector has grown over the last 50 years to dominate economic activity in most advanced industrial economies, yet scientific understanding of modern services is rudimentary. The executive director of the Institute’s Center for Open Innovation, Henry Chesbrough, has been a leader in a multi-disciplinary effort to raise public awareness of the issue and conduct research and teaching in the emerging discipline of services science.
Dr. Chesbrough recently:
· was named a charter faculty member of the new campus program, Services Science, Management and Engineering,
· received an SSME faculty award from IBM in connection with the SSME program,
· informed the business community, with publications in the Financial Times and Harvard Business Review,
· informed the academic community, by authoring the lead article in the July 2006 Communications of the Association of Computing Machinery (ACM), “A research manifesto for services science”,
· offered the first focused course on services science at Berkeley in 2006 (with Bob Glushko), and
· organized a two day service innovation conference at Berkeley.
Lester Center named NASDAQ Center of Entrepreneurial Excellence
The Lester Center was chosen to receive the 2006 NASDAQ Center of Entrepreneurial Excellence Award in recognition of the center's advancement of the discipline of entrepreneurship. This special award was created by NASDAQ and the National Consortium of Entrepreneurship Centers for the purpose of recognizing the unique achievements and outstanding efforts of entrepreneurship centers.
The center's overall reputation for developing entrepreneurship is one of the reasons the Lester Center was honored, according to Kelley School of Business Professor Donald Kuratko at Indiana University, who was one of this year's judges. Kuratko also praised the work of Lester Center Executive Director Jerry Engel in bringing the center into the national spotlight.
For information on the Lester Center:
http://entrepreneurship.berkeley.edu/index.asp
Special Journal Issue, Conference Honor Teece’s Seminal Profiting from Technology Innovation
In October 2006, the academic journal Research Policy published a special issue, Volume 35, Issue 8, commemorating the 20th Anniversary of David Teece's article, Profiting From Technology Innovation, (Research Policy, Volume 15, Issue 6, December 1986). This is the single most cited paper ever published by Research Policy, with 740 cites as of May 2007.
From the special issue Introduction: “the importance of the paper extends beyond technology and innovation management to broader topics of business strategy, science and technology policy, and the theory of the firm…Teece left forever the relatively narrow confines of economic analyses of innovation, and forged a much broader, multidisciplinary approach to the study of innovation…he combines economics with organizations, technologies, intellectual property, and markets (or the lack thereof) for complementary assets.”
A conference was held at the Haas School of Business on September 21, 2006, in which the special issue papers were presented, as well as special guest lectures by Dean Tom Campbell on “Innovation and the Law: The contributions of David Teece” and by David Teece on “Reflections on Profiting from Innovation.” Papers and panel topics included Economics and Innovation, Innovation and IP Protection, and extensions to Profiting from Innovation.
From the special issue Introduction: “the importance of the paper extends beyond technology and innovation management to broader topics of business strategy, science and technology policy, and the theory of the firm…Teece left forever the relatively narrow confines of economic analyses of innovation, and forged a much broader, multidisciplinary approach to the study of innovation…he combines economics with organizations, technologies, intellectual property, and markets (or the lack thereof) for complementary assets.”
A conference was held at the Haas School of Business on September 21, 2006, in which the special issue papers were presented, as well as special guest lectures by Dean Tom Campbell on “Innovation and the Law: The contributions of David Teece” and by David Teece on “Reflections on Profiting from Innovation.” Papers and panel topics included Economics and Innovation, Innovation and IP Protection, and extensions to Profiting from Innovation.
Professor David Teece Named Tenth Most Cited Business and Economics Scholar
Director of the Institute and Haas School Professor David Teece was recognized as the tenth most cited scholar worldwide in economics, business, and finance in a survey of highly cited research that was published in the November/December 2005 issue of Science Watch, a publication that tracks trends in basic research.
Using figures from Essential Science Indicators, Thomson Scientific's web-based evaluation tool and database, Science Watch built a list of the most cited institutions, authors, and journals from 1995 to 2005. Teece, the Mitsubishi Bank Professor of International Business and Finance, and director of the Institute of Management, Innovation, and Organization, was tenth on the list of most-cited authors with 897 citations in the ten-year period of the study. UC Berkeley ranked #7 in total citations.
The most cited paper in the study was coauthored by Teece with then-Haas doctoral students Gary Pisano and Amy Shuen. The paper, "Dynamic Capabilities and Strategic Management" (Strategic Management Journal, 18 [7] 1997), which has been cited over 600 times, explored a new framework for analyzing the sources and methods of wealth creation and capture by firms, which they called the "dynamic capabilities framework." Using this framework they concluded that strategizing against competitors is less effective than identifying and taking advantage of new opportunities.
UC Berkeley also ranked #14 in impact (defined as number of citations per paper). The survey did not rank schools or departments within the institutions ranked. These rankings are based on papers published and cited in nearly 200 Thomson Scientific-indexed journals of business and economics. The journals represent the subfields of economics, finance, accounting, and management.
Online access to the current issue of Science Watch is available only to subscribers at http://www.sciencewatch.com/.
Entrepreneurship Program Ranked Among Top in the Nation
The Haas School’s entrepreneurship program was ranked in the top tier of the top 50 national entrepreneurial colleges for 2004, according to a ranking published in Entrepreneur Magazine’s May 2004 issue. The program was also ranked #4 by alumni and #6 by faculty, according to Entrepreneur Magazine's 2004 ranking. Entrepreneurship at Haas, which is housed in the Lester Center for Entrepreneurship & Innovation, an affiliate of the Institute, was one of only three programs in this survey that were ranked in the top ten by both faculty and alumni.
The top tier included 13 universities and business schools, including Columbia Business School, Babson College, and Massachusetts Institute of Technology (MIT). The ranking was based on a school questionnaire and surveys of entrepreneurship faculty and recent alumni.
Entrepreneur Magazine's ranking is based on questionnaires completed by universities and surveys of their entrepreneurship faculty and alumni, and of peer institutions.
The survey was conducted for Entrepreneur by TechKnowledge Point Corp., which researched 700 universities across the US. The survey ranked 50 schools with what it considered "comprehensive entrepreneurship programs" at both nationally prominent colleges and universities and 50 such schools at the regional level. It also identified nearly 200 schools with an "entrepreneurship emphasis" and another 75 schools with "limited curriculum programs," according to the survey.
Industrial and Corporate Change Scores High ISI Impact Factor
In 2005, Industrial and Corporate Change (ICC), an influential academic journal which is housed at the Institute, earned an ISI impact factor of 1.349.
This factor gives ICC 25th place in the international economics ranking (i.e. 2 positions above the Rand Journal of Economics, very much above the European Economic Review and at about double of the Journal of Economic Theory and 15th place in the management ranking.
Williamson Wins Economics Prize
Oliver Williamson, the Edgar F. Kaiser Professor Emeritus of Business Administration and a long-time faculty affiliate of the Institute, , received the 2004 H.C. Recktenwald Prize in Economics for his contributions to the development of transaction cost theory and institutional economics last November.
Established by Hertha Recktenwald in honor of her late husband, the internationally recognized political economist Horst Claus Recktenwald, the award is given every two years. The previous recipients of the prize were Professor Edmond Malinvaux of France, Nobel Laureate Joseph Stiglitz of Columbia University, Princeton University economist Paul Krugman, and economist Paul Romer of Stanford University.
Fisher Center’s Hendershott Wins Schwabacher Award
Assistant professor and Fisher Center for Information Technology faculty director Terrence Hendershott, along with Ernesto Dal Bó, have been named the Haas School's 2005-2006 Schwabacher Fellows, the highest honor bestowed upon assistant professors by the school.
"Ernesto and Terry were chosen for their outstanding research and exceptional scholarly growth," says Acting Dean Rich Lyons, who served as associate dean for Academic Affairs at the time Dal Bó and Hendershott were selected for this honor. Both received a small cash prize and a research budget in January 2005 and will have a reduction in teaching load for the 2005-2006 academic year.
Hendershott, assistant professor in the Haas Operations and Information Technology Management Group, researches the impact of technological innovation on traditional financial markets and has extensively addressed how electronic trading systems compete with stock exchanges. "While Terry's work focuses on the importance of information systems and technology, he has increased the visibility of information systems research in other academic communities by publishing in journals in finance and economics," Lyons notes.
The recipients are chosen by the Haas faculty executive committee, which has traditionally presented the award every year to one or two assistant professors in recognition of their accomplishments in teaching and research.
You can learn more about Dr. Hendershott at: http://www.haas.berkeley.edu/faculty/hendershott.html.
Haas Professor David Teece Receives Honorary Doctorate
David Teece, the Mitsubishi Bank Professor of International Business and Finance and Director of the Institute of Management, Innovation, and Organization, received an honorary doctorate from the Copenhagen School of Business on March 19, 2004.
Teece's contributions to the theory of the firm and the understanding of the innovation process motivated his selection as the honorary doctorate for the year 2004. The award specifically notes his significant contributions in the areas of the theory of the firm, strategic management, the economics of technological change, knowledge management, technology transfer, antitrust economics, and several other areas.
Chesbrough's Open Innovation Wins Book and Article Awards
strategy+business magazine named Open Innovation: The New Imperative for Creating and Profiting from Technology by Henry Chesbrough among the best business books and the top book on innovation of 2003. Dr. Chesbrough is Executive Director of the Institute’s Center for Open Innovation.
Chesbrough, Ph.D. 97, who returned to Haas in 2003 as visiting assistant professor and executive director of the Center for Technology Strategy and Management, wrote the book based on his experiences working in the tech industry for nearly a decade. While working at Plus Development Corp., a subsidiary of data storage systems manufacturer Quantum Corp., he came to realize that these corporations were too insular in their research focus, while their businesses only used concepts conceived in-house.
strategy+business editor Randall Rothenberg explained the key concepts of the book in an NPR Morning Edition interview on December 30: "...Companies can no longer keep their own innovations secret unto themselves; ... the key to success is creating, in effect, an open platform around your innovations so your customers, your employees and even your competitors can build upon it, because only by that building will you create an ongoing, evolving community of users, doers and creators." strategy+business is published by Booz Allen Hamilton.
Chesbrough was also honored by the European Association for Creativity and Innovation (EACI) for his book Open Innovation: The New Imperative for Creating and Profiting from Technology.
Chesbrough’s book, published by Harvard Business School Press in 2003, was chosen by EACI as the “Best Book on Innovation.” The EACI promotes the fields of creativity and innovation in Europe and bestows its book awards at a bi-annual international conference, held this year in Lodz, Poland, on September 4-7.
Open Innovation was published in 2003 by Harvard Business School Press. Excerpts of the book were published in the Harvard Business Review, the MIT Sloan Management Review, the California Management Review, and CalBusiness (http://www.haas.berkeley.edu/calbusiness/current/ideas01.html).
Chesbrough was also honored by the MIT Sloan Management Review, for his article "The Era of Open Innovation," published there in 2003. Chesbrough's article was selected as the runner up in the journal's second annual PricewaterhouseCoopers award for the articles that most contributed to the enhancement and advancement of management practice.
Scientific American names Henry Chesbrough among 2003’s 50 innovators
Henry Chesbrough, a visiting assistant professor at the Haas School of Business, who also serves as executive director of the Institute’s Center for Open Innovation, and David Culler, UC Berkeley professor of computer science in the College of Engineering and former director of the Intel Research Berkeley laboratory, are included in the top 50 innovators of 2003 chosen by Scientific American and profiled in the December 2003 issue.
The magazine’s December issue contains its second annual salute to the Scientific American 50 — individuals, teams and organizations whose accomplishments in research, business or policymaking during the past year demonstrated outstanding technological leadership.
Henry Chesbrough,
Visiting Assistant Professor
Haas School of Business
Chesbrough, while working for disk-drive maker Quantum in the 1980s, the magazine says, "began to wonder why large corporations such as IBM and AT&T couldn't seem to reap the market benefits of the advanced technology they created."
A senior product marketing executive for almost a decade for Plus Development Corp., a subsidiary of data storage systems manufacturer Quantum Corp., Chesbrough concluded that these corporations were too insular in their research focus, while their businesses only used concepts conceived in-house.
The magazine notes that in his book, Open Innovation: The New Imperative for Creating and Profiting from Technology, (Harvard Business School Press, 2003), Chesbrough proposed a new model of industrial research and development to eliminate the traditional boundaries between businesses, universities, start-ups and sources of innovation.
Chesbrough earned his Ph.D. from the Haas School in 1997.
UC Berkeley Technology Management Expertise Sought by Japanese Press
Profs. Isaacs, Cole, and Wright
UC Berkeley’s Management of Technology Program, an affiliate of the Institute, has been chosen by Japan's largest business publisher, Nikkei, as the exclusive academic contributor to its new magazine focused on technology business, Nikkei BizTech/MOT. Nikkei just renewed its contract with UC Berkeley’s MOT Program through the end of 2005. UC Berkeley is the only university in the US represented in this dominant Japanese medium through a regular column.
Five UC Berkeley MOT faculty members are taking turns writing a column for each issue of Nikkei BizTech/MOT, which is published every other month. Contributors include MOT’s Executive Director Andrew Isaacs, Professor Emeritus and research director Robert Cole, Executive Director of the Open Innovation Center Henry Chesbrough, MOT Lecturer Jihong Sanderson, and Engineering Professor Paul Wright.
The first three issues of the new magazine include articles written by Paul Wright on advances in manufacturing, Jihong Sanderson on management of technology in China, and Henry Chesbrough on open innovation.
UC Berkeley’s MOT Program regularly advises Japanese universities on how to create Management of Technology centers, modeled on UC Berkeley's thriving partnership between the Haas School of Business, the College of Engineering, and the School of Information Management and Systems.
For more information please visit the MOT website.
