By Roy Braybrook

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Advice for Executives ●● ●● ●● ●● ●● ●● Accept this rule of thumb: Innovate or go out of business. Your firm does not always need to be a technology leader, but it does need to change as environments change. Let people know that the status quo will destroy the company sooner or later. Explain why. You may find useful explanations in this book. Know individually and interactively how technology, product, and industry life cycles work. You will probably never see one in perfect form but if you know what to look for, you should be able to make strategic sense of an otherwise chaotic environment.

In frameworks such as the five forces model and the resource-based view, technology is often an important focus as implied by variables such as intellectual proprietary rights and the ­appropriation of rents to innovation. However, underlying economic assumptions about equilibration are generally mainstream, not Schumpeterian strictly speaking. Implications are largely ­concerned with managing growth, maturation, and decline—not proactive recreation (Hayes & Wheelwright, 1988; Howard & Moore, 1988; Moore, 1988; von Hippel, 1988).

Breaking rules is one thing, ­managing risks is another—the latter being a matter of professional skill. ●● Axiom 2: Do whatever it takes to make your idea work regardless of what your job ­description says. Let and encourage project team members to take risks, not break rules unless the firm’s overall culture allows it. Corporate culture is a manageable variable but not in the short term. Lasting changes to culture happen very slowly and then, with great difficulty and no assurance of success.

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British Aerospace Harrier and Sea Harrier by Roy Braybrook

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