Category: Faculty Author

Insights for GE as it relocates to Boston's unique "innovation ecosystem"

Posted by MIT Sloan Executive Education - 19 days ago

Formerly known as General Electric, GE announced this January that it is moving its corporate headquarters from suburban Connecticut to downtown Boston. In the Boston Business Journal's recent coverage of the story, GE Chairman/CEO Jeff Immelt said: "GE is a $130 billion high-tech global industrial company, one that is leading the digital transformation of industry. We want to be at the center of an ecosystem that shares our aspirations."

Formed by the 1892 merger of Thomas Edison’s company with Massachusetts' own Thomson-Houston Electric Company, GE is not alone in considering the Boston area as a world-class hub of innovation. Earlier this month, Bloomberg confirmed what many of us who live and work here know to be true: Massachusetts is the most innovative state in the nation.

So what does GE's move to Boston mean for the Commonwealth, for the City, and in particular for our innovation ecosystem? And what might GE like to know, even at this stage, as it thinks through how best to leverage the innovation and entrepreneurship that drive much of the activity in Greater Boston and beyond?

Let us start with defining the expression "innovation ecosystem" that has been so widely used in the discussions of GE's decision.  In our work at MIT, we define an innovation ecosystem as the connections among five key stakeholders: entrepreneurs (of course), universities (as you'd expect), and risk capital providers (beyond just VCs)--but also with key roles for government and large corporations. 

Innovation model

In our research on, and teaching about, such ecosystems around the world, we emphasize that an ecosystem relies upon the collective actions that these stakeholders take to contribute and share resources (talent, ideas, infrastructure, money, connections). 

Our work also shows that such innovation ecosystems are complex and sometimes fragile things.  Many places in the world wish to emulate such an innovation hub, but few pull off the alchemy necessary to launch or sustain such ecosystems.  As such, we have been increasingly highlighting (e.g., in BetaBoston,) the importance of a certain innovation diplomacy within and among the various stakeholder groups, recognizing the interests of the other parties, and taking actions that find opportunities for mutual long-term benefit.


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It’s time to rethink wages

Posted by MIT Sloan Executive Education - 1 year and 7 months and 4 days ago

For the last year or so, there’s been a significant amount of news coverage around the wages paid to low-income earners, such as those working at fast food outlets and in retail stores. There have been public protests, calls for boycotts, and legislation to raise the minimum wage in some states.

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Learning sustainable methods for increasing your productivity

Posted by MIT Sloan Executive Education - 2 years and 7 days ago

By Robert Pozen

Are you feeling overwhelmed at work?  Do you feel like you don't have enough time for family and friends?

If so, take my executive education course at MIT Sloan Executive Education: Maximizing Your Personal Productivity, March 20–21. The course consists of four substantial sessions over two days, with time to network and make friends. Each session will help you master a different and important aspect of personal productivity.

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MOOCs: the true costs of free online education

Posted by MIT Sloan Executive Education - 2 years and 6 months and 9 days ago

Free isn’t necessarily good, especially when it comes to Massive Online Open Courses, or MOOCs—a recent development in distance education. While traditional online courses charge tuition, carry credit, and limit enrollment to a few dozen to ensure interaction with instructors, the MOOC is usually free, credit-less, and caters to thousands of students at a time. The New York Times dubbed 2012 "The Year of the MOOC," and it has since become one of the hottest topics in education. But how free are MOOCs? Given that there are real costs and quality issues associated with any type of higher education, what are some possible downsides of a free or low-fee college education?

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