Institutionalized Entrepreneurship: Flagship Pioneering

Hong  Luo; Gary P. Pisano; Huafeng  Yu

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Case | HBS Case Collection | January 2018 (Revised April 2018)

Institutionalized Entrepreneurship: Flagship Pioneering

by Hong Luo, Gary P. Pisano and Huafeng Yu

Language: English

Format: Print

13 pages

Educators Purchase

Citation:

Luo, Hong, Gary P. Pisano, and Huafeng Yu. "Institutionalized Entrepreneurship: Flagship Pioneering." Harvard Business School Case 718-484, January 2018. (Revised April 2018.)

About the Authors

Hong Luo

James Dinan and Elizabeth Miller Associate Professor of Business Administration

Strategy

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Gary P. Pisano

Harry E. Figgie, Jr. Professor of Business Administration
Senior Associate Dean for Faculty Development

Technology and Operations Management

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More from these Authors

Supplement | HBS Case Collection | May 2019

Engineering Company Culture at Zaimella Ecuador (B)

Gary P. Pisano and Francesca Gino

Citation:
Pisano, Gary P., and Francesca Gino. "Engineering Company Culture at Zaimella Ecuador (B)." Harvard Business School Multimedia/Video Supplement 919-706, May 2019. View Details

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Working Paper | 2019

Long-Term Firm Growth: An Empirical Analysis of US Manufacturers 1959-2015

Giovanni Dosi, Marco Grazzi, Daniele Moschella, Gary P. Pisano and Federico Tamagni

Firm growth is an essential feature of market economies, shaping together macroeconomic performance and the evolution of industry structures. As a po-tential indicator of organizational “ﬁtness” within a competitive environment, ﬁrm growth is also a central concern to both the practice and theory of business strategy. Despite both its theoretical and practical importance, though, growth remains a poorly understood property of ﬁrms. While previous studies have documented the highly skewed nature of ﬁrm growth rates, we know far less about the persistence of growth rates over long-periods of time. For instance, do “fast growers” tend to maintain their relative growth rates advantages over long-periods or is superior growth a transitory phenomenon? Is, as predicted by evolutionary and capability based theories of the ﬁrm, the process of ﬁrm growth path-dependent or is it more akin to a random walk? The answers to these questions are central to building a robust theory of ﬁrm growth. This paper attempts to address this gap in our empirical knowledge of ﬁrm growth using a dataset that spans 50 years, which al-lows the abandonment of the assumption, common to all incumbent studies, that the stochastic paths of all ﬁrms stem from the same generating process. These exploratory results indicate that growth rate persistence is there and my be even substantial for some ﬁrms, but it is rare. We also study the links between the micro-properties of ﬁrm growth within sectors and the patterns of aggregate growth of these same sectors. Indeed, we ﬁnd circumstantial but widespread evidence that heterogeneity across ﬁrms correlates with industry dynamism.

Citation:
Dosi, Giovanni, Marco Grazzi, Daniele Moschella, Gary P. Pisano, and Federico Tamagni. "Long-Term Firm Growth: An Empirical Analysis of US Manufacturers 1959-2015." Working Paper, May 2019. View Details

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Working Paper | HBS Working Paper Series | 2019

Risk-Mitigating Technologies: the Case of Radiation Diagnostic Devices

Alberto Galasso and Hong Luo

We study the impact of consumers’ risk perception on firm innovation. Our analysis exploits a major surge in the perceived risk of radiation diagnostic devices, following extensive media coverage of a set of over-radiation accidents involving CT scanners in late 2009. Difference-in-differences regressions using data on patents and FDA product clearances show that the increased perception of radiation risk spurred the development of new technologies that mitigated such risk and led to a greater number of new products. We provide qualitative evidence and describe patterns of equipment usage and upgrade that are consistent with this mechanism. Our analysis suggests that changes in risk perception can be an important driver of innovation and shape the direction of technological progress.

Keywords: risk perception; innovation; medical devices; product liabilities; Risk and Uncertainty; Perception; Technological Innovation;

Citation:
Galasso, Alberto, and Hong Luo. "Risk-Mitigating Technologies: the Case of Radiation Diagnostic Devices." Harvard Business School Working Paper, No. 19-106, April 2019. View Details

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