The art of managing innovative companies is disclosed in this unique book which resulted from the first common EU-MITI project. The Company of the Future will need new management tools in order to meet four essential requirements: The first three are to redirect the attention of management to the internal challenges, to reveal problems well before final financial data are available, and to integrate basic management concepts from all business functions (marketing, R&D, production, services, finance, strategy). The fourth requirement is that tools should be simple enough to be implemented by busy people and sufficiently sophisticated to meet the challenges of the future. This book reveals those practical, simple and effective tools for global success and competitiveness. "This is a challenging book about the likely shape of companies in the 21st century." (David T. Thompson)

1 General Framework and Concepts

1 Introduction
2 The Development Phases of Industry
3 World Economics and Corporate Growth
4 General Strategy, Relevant Knowledge, and Corporate Structure
5 The Production Function of R&D
6 Innovation and Key Components
7 Creativity and Accountability
8 Role and Organization of R&D
9 Management of Knowledge and Integration of Concepts
10 Communication and Change
11 Conclusions and Recommendations
References
2A Research in the Company of the Future
1Some Difficult Questions
2Characteristics of Research
3Reasons for Research
4Research as a Source of Future Potentials
5Research Potentials and Project Funding Decisions
6On Property Rights and Project Potentials
7Relative Share of Research in Relation to its Potentials
8Conclusions and Recommendations
References
2B Empirical Results on Research Elasticities and on the Integration of Industrial Research with the Scientific in Europe and Japan
1Research Elasticities
2Integration of Industrial Research with the Scientific Environment
3Conclusions and Recommendations
References
3 The System Company
1Definition of a System Company
2Technology Management within a System Company
3System Integration
4Some Examples of System Companies
5Decisions within SC Management
6The Changing Boundaries of a System Company
7Conclusions and Recommendations
References
4 Technology Management in the 'Company of the Future'
1 Introduction
2 Mission of the Company of the Future in the 21st Century
3 Key Management Indices and their Optimum Balance
4 Resource Allocation for R&D Activities
5 Strategies for Technology Management (1): Phase Management of a Product Life Cycle
6 Strategies for Technology Management (2): Determination ofProject Priorities
7 Management of a Global Company
8 Conclusions and Recommendations
References
5 Global Strategies and the Role of Research
1 Global Strategies
2 Capitalisation of Intellectual Property, Research, and Development
3 The Example of Sumitomo Electric Industries Ltd
4 Conclusions and Recommendations
Reference
6 Accountability of Technology
1 The Need for New Accounting Systems
2 Current Accounting Practices for R&D
3 A New Approach to Technology-Oriented Accounting: The Flexible Innovation Accounting System (FIAS)
4 Other New Approaches to Technology-Oriented Accounting
5 Conclusions and Recommendations
References
List of Recommended Tools for the Company of the Future
Some Abbreviations and Acronyms
Authors
Authors' Addresses.