The success of an innovating firm often depends on the efforts of other innovators in its environment. How do the challenges faced by external innovators affect the focal firm's outcomes? To address this question we first characterize the external environment according to the structure of...

Argues that most business projects fail because their success depends on unanticipated external innovations while revealing the logic of "innovation ecosystems" that can be established to dramatically improve odds of success

The challenges of commercializing breakthrough inventions in large firms have been studied extensively through a lens of managerial decision-making and resource allocation. This perspective has characterized the innovation process in large firms as one in which inventors confine themselves to...