Posted on Wednesday, August 1, 2012
Like many, you might think of Xerox PARC as a technological marvel and a business failure. Due to high profile “failures” like it, your organization might celebrate “innovation” but frown on “invention.”
In a new Forbes article, I try to topple the conventional wisdom that Xerox PARC was a commercial failure and that “invention” is foolhardy.
You probably know that PARC’s early inventions underlie much of today’s IT industry and power global commerce. Did you know that Xerox actually reaped hundreds of billions in revenue from those inventions, while spending only about $45 million (in today’s dollars) to build most of them?
There were, of course, many things that Xerox could have done better with PARC. But, far from proving that large companies should not invest in breakthrough research, Xerox PARC shows that they must.
This is a lesson that has immediate urgency for market leaders in every technology-intensive industry. Like Michael Jordan, who always wanted the ball in clutch moments, market leaders should take greater control of their own futures in these disruptive times by pursuing more invention.
I hope you’ll take a look at the full article at Forbes and let me know what you think of it.
Here’s the link: The Lesson That Market Leaders Are Failing To Learn From Xerox PARC
Hope you’re having a great summer!