New Ways Needed For Managing Technical Assets
New Ways Needed For Managing Technical Assets
UNIVERSITY PARK, PA--Technology is increasingly becoming a major source of competitive advantage; yet most corporations are struggling with a key question - how can they efficiently manage their technical resources to ensure a continual and timely supply of leadership products without an inordinate expenditure on research.
While most companies have a chief technology officer (CTO), Anthony Warren, director of the Farrell Center for Entrepreneurship in the Penn State Smeal College of Business, believes it is time for a new way of managing technical assets, moving away from the classical model of internal R&D; to one where technology is treated as a tangible and liquid (i.e. tradable) asset.
"If your market value consists of more than 50 percent in intangible assets then you should have a board member specifically responsible for managing them with similar visibility to the CFO," says Warren.
The Farrell Center for Entrepreneurship is one of five research centers in the Penn State Smeal College of Business. Research under way in the Farrell Center for Entrepreneurship is aimed at innovation across corporate boundaries. This emphasis on the practice of entrepreneurism to large corporations and across corporate boundaries differentiates the Farrell Center from the majority of other such centers and prepares our students for careers as change managers in larger organizations where such skills are in great demand.
For more information, contact Anthony Warren at twarren@psu.edu or 814-865-4593.
REPORTERS & EDITORS: For more information, please contact Wyatt DuBois in the Smeal College of Business Media Relations Office at 814-863-3798 or wed112@psu.edu.
Penn State's Smeal College of Business offers highly ranked undergraduate, MBA, executive MBA, Ph.D., and executive education opportunities to more than 5,500 students at all levels. Featuring academic departments of accounting, finance, marketing, insurance and real estate, management, and supply chain and information systems, the college is also home to major research centers such as the Center for Supply Chain Research, the Institute for the Study of Business Markets, the Center for Digital Transformation, the Farrell Center for Corporate Innovation and Entrepreneurship, the Center for Global Business Studies, and the Center for the Management of Technological and Organizational Change.
