IBM, University of Georgia to study the secret of business success

IBM and the University of Georgia have launched a research initiative to find the answer to the question of what is key to innovation — great inventions, business models, technology, and profit. This is but the latest in Big Blue’s Shared University Research award program, created to exemplify the deep partnership between academia and the industry to explore research in areas essential to fuel innovation. IBM has donated $80,000 in systems and software to the University of Georgia’s Terry College of Business where students will work together with IBM Research and Market Intelligence to delve into the topic of innovation. “The future of successful companies will depend not on how much they spend on research and development but on how efficiently they direct their innovative efforts to provide solutions to real customer problems and convert their inventions into marketable and profitable offerings,” said Dr. Srinivas Reddy, the Robert O. Arnold Professor of Business at Terry College.

The grant, which is one of the first Innovation grants from IBM, calls on marketing students to provide IBM with a set of guidelines on how it has come to develop innovation that matters to both the company and its clients. The team will develop the innovation roadmap by researching how IBM has found creative, cost-efficient, and convenient solutions and inventions for customers in the past. In addition, a published report will document how certain business practices can turn into profitable innovations.

IBM will provide students with case studies, and the team will examine IBM accomplishments in the form of patents, awards, and products that have made an impact by either increasing revenue, saving money, or by gaining brand name recognition. The marketing students will also research the steps that have been taken to turn innovations into successful sellers. Besides studying innovations which have led to actual products, the team will also study a wide range of statistics and data from industries other than technology, such as pharmaceuticals. They will analyze a company’s successes and attempts at marketing certain innovations. The findings will help researchers develop their guidelines and will help them figure out how innovations can affect a company’s profits.

IBM’s initiative should be welcomed, and U Georgia is a good place to implement it. Our humble suggestion to the Bulldogs: Persuade IBM to allow you to study some of the company’s failures as well. We remember “Fort Knox”