PhD, London School of Economics and Political Science, 1967; MBA, University of Pennsylvania, 1964; MS, University of Pennsylvania, 1964; BS, University of Pennsylvania, 1961
Academic Positions Held
Wharton: 1967-present (named Ralph Landau Professor of Management and Technology, 1978; Director, Jerome Fisher Management and Technology Program, 1978-present; Associate Director, Leonard Davis Institute of Health Economics and the National Health Care Management Center, 1975-78; Director of Research and Development, Leonard Davis Institute of Health Economics, 1972-74; Senior Research Associate, Management Science Center, 1967-69).
Special Assistant to the Secretary, U.S. Department of Transportation, 1974-75; Senior Operations Analyst, University City Science Center, 1967-70; Research Engineer, Sun Oil Company, 1961-64
Abstract: This paper considers the evolution of strategies pursued by established and emerging firms as they attempt to commercialize radically new industrial technology. A general framework is proposed to relate strategic options and choices to the evolution of technologies, organizations and industry positions following a technological discontinuity. Empirical evidence from the emerging biotechnology field is presented to illustrate these patterns of evolution. The framework is then used to examine the roles played by strategic alliances in the evolving strategies of participants in biotechnology.
Abstract: The emergence of radically new industrial technology is a powerful competitive force with significant strategic implications. Entirely new industries may develop around an emerging technology as existing industries are transformed or destroyed in its wake. Schumpeter1 aptly characterized such technological change as a force of “creative destruction,” which leaves both winners and losers among industrial firms. What factors distinguish these firms and their strategies for dealing with technological change? This paper reports on a study of the strategic options available to firms facing radical technological change, and the strategic choices made by firms involved in the emerging biotechnology field. Of particular interest are the widespread use of external relationships and their roles in the technology strategies of established firms. The paper begins with brief definitions of established and emerging firms, followed by a review of insights into the strategic nature of technological change drawn from prior studies. The evolving positions of established and emerging firms in the biotechnology field are then described with some elaboration of the collaborative relationships which characterize its early development. A conceptual framework is proposed to differentiate the strategic choices made by established firms in response to advances in biotechnology, and this framework is used to examine the roles played by selected interorganizational relationships in corporate strategies. The paper argues that these external alliances are appropriate initial responses to the strategic management challenges presented by radical technological change, but that the nature and significance of these alliances and associated corporate strategies change as the technology advances toward commercialization.
David W. Hauck Award for Outstanding Teaching (Undergraduate Division), 2003
Excellence in Teaching Award (Undergraduate Division), 2003
Outstanding Teaching Award for distinguished undergraduate teaching, 2000
David W. Hauck Award for Outstanding Teaching (Undergraduate Division), 1991
Excellence in Teaching Award (Undergraduate Division), 1991-1999
White House Fellow, 1973-1974
Lindback Award for Distinguished Teaching, University of Pennsylvania, 1972
Helen Kardon Moss Anvil Award for Teaching Excellence, 1971
William F Hamilton (1997), Managing Technology as a Strategic Asset, International Journal of Technology Management, 14: 2-4.