Manufacturing’s central role in global innovation Companies compete on the decisions they make. For yearseven decadesin response to intensifying global competition, companies decided to outsource their manufacturing operations in order to reduce costs. But we are now seeing the alarming long-term effect of those choices: in many cases, once manufacturing capabilities go away, so does much of the ability to innovate and compete. Manufacturing, it turns out, really matters in an innovation-driven economy. In Producing Prosperity, Harvard Business School professors Gary Pisano and Willy Shih show the disastrous consequences of years of poor sourcing decisions and underinvestment in manufacturing capabilities. They reveal how today’s undervalued manufacturing operations often hold the seeds of tomorrow’s innovative new products, arguing that companies must reinvest in new product and process development in the US industrial sector. Only by reviving this industrial commons” can the world’s largest economy build the expertise and manufacturing muscle to regain competitive advantage. America needs a manufacturing renaissancefor restoring itself, and for the global economy as a whole. This will require major changes. Pisano and Shih show how company-level choices are key to the sustained success of industries and economies, and they provide business leaders with a framework for understanding the links between manufacturing and innovation that will enable them to make better outsourcing decisions. They also detail how government must change its support of basic and applied scientific research, and promote collaboration between business and academia. For executives, policymakers, academics, and innovators alike, Producing Prosperity provides the clearest and most compelling account yet of how the American economy lost its competitive edgeand how to get it back.

Producing Prosperity: Why America Needs a Manufacturing Renaissance

Business & Money

Pisano, Gary P.

Shih, Willy C.

Industries

Harvard Business Review Press

Innovation Killers: How Financial Tools Destroy Your Capacity to Do New Things

Christensen, Clayton M.

Kaufman, Stephen P

Management & Leadership

In this seminal article, innovation experts Clayton Christensen, Stephen P. Kaufman, and Willy C. Shih explore the key reasons why companies struggle to innovate. The authors uncover common mistakes companies make--from focusing on the wrong customers to choosing the wrong products to develop--that can derail innovation efforts, and offer a better way forward for management teams who want to avoid these obstacles and get innovation right.

Supply Chain: The Insights You Need from Harvard Business Review (HBR Insights Series)

Disruptions in the global supply chain bring companies to a standstill. Supply and demand shocks. Labor shortages. International trade wars. As businesses and customers struggle to get the products they need from across the globe, manufacturers must reassess how they operate, from rethinking offshore options to exploring new technologies. Supply Chain: The Insights You Need from Harvard Business Review will help you better understand the dynamics at play worldwide and identify the risks in your supply chain network so you can ensure resilience without sacrificing competitive advantage. Business is changing. Will you adapt or be left behind? Get up to speed and deepen your understanding of the topics that are shaping your company's future with the Insights You Need from Harvard Business Review series. Featuring HBR's smartest thinking on fast-moving issues--blockchain, cybersecurity, AI, and more--each book provides the foundational introduction and practical case studies your organization needs to compete today and collects the best research, interviews, and analysis to get it ready for tomorrow. You can't afford to ignore how these issues will transform the landscape of business and society. The Insights You Need series will help you grasp these critical ideas--and prepare you and your company for the future.

Review, Harvard Business

Weise, Daniel

Schnellbächer, Wolfgang

Shuh, Christian

International

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Books by Shih, Willy C.