Innovation and Value Creation in a Very Long-Cycle Business.
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| Authors: | Epstein, Alan H.1 alan.epstein@pw.utc.com |
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| Source: | Research Technology Management. Nov/Dec2014, Vol. 57 Issue 6, p21-25. 5p. 4 Black and White Photographs, 1 Graph. |
| Subject Terms: | *Technological innovations, *Consumers, Airplane motors, Novelty (Perception) |
| Company/Entity: | Pratt & Whitney Co. Inc. |
| Abstract: | OVERVIEW: As a pioneer in airplane engine manufacturing, Pratt & Whitney must innovate in a very long-cycle business, one in which the break-even point on an innovation is decades out. This requires the company to create new innovations before customers can even define the requirements for the next generation of engines. As a result, it's critical that the company distinguish between novelty and true innovation. [ABSTRACT FROM AUTHOR] |
| Database: | Entrepreneurial Studies Source |
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