Abstract
Growing empirical evidence highlights the importance of radical innovation for the long-term success of established firms. Though the recognition of radical innovation projects permeates many established companies, there exists considerable uncertainty about how to best manage radical innovation projects. A detailed field study of two radical innovation projects in two 100-year-old established firms shows the importance of bringing in external support and knowledge early on. Further, this study demonstrates that the success of radical innovation projects depends on the commitment of executive management, the boundary spanning role of the head of innovation, and the selection and reward mechanisms for R&D employees, which all must be aligned with the high-risk profile of these projects.
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