Michael Schrage


Research Fellow, MIT Center for Digital Business
Visiting Fellow, Imperial College Department of Innovation and Entrepreneurship

 

Michael Schrage Michael Schrage is one of the world’s most innovative thought leaders on innovation.

He has redefined how we think about innovation by focusing on customer acceptance of new products and services as an integral part of the innovation process.

He also has pioneered techniques for using rapid prototyping, simulations and modeling to improve return on innovation investment. Michael is the author of two critically acclaimed books: Serious Play: How the World’s Best Companies Simulate to Innovate and Shared Minds—The New Technologies of Collaboration.

A research fellow at the MIT Sloan School’s Center for Digital Business, Michael is a columnist for Fortune, CIO Magazine and MIT’s Technology Review, and is widely published in the business press. He is a regular contributor to The Conference Board Review.

Michael is a senior advisor to MIT’s Security Studies Program and consults to the U.S. government on national security systems innovation. Michael is a powerful speaker with a very direct and engaging style. His work redefines not just how innovation is done but what innovation means. Innovation is not what innovators do; it’s not about good new ideas. Innovation is about good new ideas that customers will pay a premium to adopt and use! Innovation & marketing. The most innovative organizations fuse "marketing" and "innovation" into an integrated strategy for growth. This redefines how you innovate and how you market your innovations. The key is to understand how your inventions will affect customer relationships and develop strategies that help customers embrace your innovations. Michael Schrage knows how to make such integrative strategies work.

Perhaps no one knows more about how to maximize return on investment from innovation processes than Michael Schrage. The key, as he describes in his groundbreaking book, Serious Play—How the World’s Best Companies Simulate to Innovate, is rapid experimentation and prototyping, speedy simulation and digital design. New prototyping methods have radically reduced the cost of testing products, services and business models, effectively creating a new financial resource—iterative capital, a resource that allows you to play seriously with more and more versions of various ideas in less and less time. Michael helps businesses master these techniques and spend their iterative capital wisely. Manage the links between innovation, the supply chain and the customer cost-effectively.

Michael’s critically acclaimed first book, Shared Minds: The New Technologies of Collaboration, was the first book to explore the tools and dynamics of successful collaboration as the behavioral key to successful innovation.


Faculty Media

  • [MIT Press Podcast] The Innovator's Hypothesis

    MIT Sloan's Michael Schrage discusses his book, "The Innovator's Hypothesis."


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  • 5 Questions That Will Help You Stay Ahead of Your Disruptors

    How could we create twice as much value for twice as many customers with only half as many employees? Top managers in disrupted industries increasingly find this question less rhetorical.


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  • Ready Or Not: Top Three Challenges For Retail

    “The one thing that really surprises and disappoints and shocks me is that a lot of C-level people see this as a problem to be solved,” said SXSW panelist Michael Schrage, a research fellow at the...


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  • How to Give a Robot a Job Review

    Smart, quasi-autonomous robots and machines are replacing humans in workplaces all over the world. But “better than human” comes with its own managerial challenges. What happens when these...


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  • The Best Entrepreneurs Think Globally, Not Just Digitally

    Today’s innovators don’t “go global”—globality is baked into their origins.


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  • Why the New Crop of E-commerce Brands Should Really Scare Traditional Retailers

    "If you use phrases like e-commerce consistently, it's a sign that someone should short your stock. Retail is being transformed into shopping, and how people want to shop is completely and utterly...


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  • Why Apple and the FBI Won't Compromise over iPhone Security

    “I am extraordinarily sympathetic to Apple,” says Michael Schrage, a research fellow at the MIT Center for Digital Business. “I’m extraordinarily sympathetic to the FBI and Justice Department. I am...


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  • Engagement Is a Means, Not an End

    The business purpose of greater employee engagement and empowerment is not happier employees but people who are more productive, innovative, and accountable for the choices they make.


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  • To Thine Own Self, Don't Always Be True

    Many of us have been told that "being true to ourselves" is a key to success. But in the workplace, being "authentic" might actually wreak havoc.


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  • If You’re Not Collecting Productivity Data, You’ll Never Succeed at Work

    Quantifying the “business self” is an essential precursor for enterprise networks that empower people to manage their strengths and weaknesses better, faster, and cheaper.


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