News and Awards

  • Keystone Chairman and HBS Professor Marco Iansiti expands on why digital leaders post higher gross margins, profits, and revenue per employee than digital laggards in a new study entitled, “The Digital Business Divide: Analyzing the operating impact of digital transformation,” featured recently on
    Read the full story and access the study, here: cio-image
  •’s 2017 Top Ranked Consulting Firms: Keystone Strategy has been named to‘s 2017 Top Ranked Consulting Firms in North America with two top 10 placements for both innovation and internal mobility. Read more about Keystone Strategy here: vault-top-ranked
  • The CFO Leadership Council News:  Keystone’s own Director of Finance Julius Gloeckner is featured in the CFO Council News blog detailing why he thrives in Keystone’s entrepreneurial setting.  Read more about Julius Gloeckner and Keystone CFO Council Logo
  • Top 10 Boutique Strategy Consulting firm by IvyExec: Keystone has been ranked a Top 10 Boutique Strategy Consulting firm by IvyExec in their annual consulting firm rankings. Read more about Keystone  ivyexec_logo
  • Consulting Magazine Rising Star: Congratulations to Keystone’s Sam Price who was just named one of Consulting Magazine’s Rising Stars of the Profession for 2016. To read more about Sam and her work at Keystone, go to Consulting MagazineConsulting Mag Rising Star
  • Professor Iansiti releases One Strategy which analyzes how a management team tweaked and optimized the fine line between strategy and executionone-strategy
  • Professor Pisano wins the 2010 McKinsey Award for “Restoring American Competitiveness”

Keystone experts are thought leaders in their fields and are prolific writers on their findings. The experts create leading analytical frameworks for evaluating ecosystem strategy, innovation processes, IP evaluation, antitrust analysis and more. The research of our experts provides Keystone with unique access to large, cross-sectional studies of industry players. Please contact us to learn more about our experts' research.


The History and Future of Operations

by Marco Iansiti
Harvard Business Review, June 30 2015
Link to Article

Digital Ubiquity: How Connections, Sensors, and Data Are Revolutionizing Business

by Marco Iansiti and Karim R. Lakhani
Harvard Business Review, November 2014
Link to Article

The Evolution of Science-Based Business: Innovating How We Innovate

by Gary P. Pisano
Harvard Business School Working Papers, February 19, 2010
Download PDF

The Determinants of Individual Performance and Collective Value in Private-Collective Software Innovation

by Ned Gulley and Karim Lakhani
Harvard Business School Working Papers, February 2010
We investigate if the actions by individuals in creating effective new innovations are aligned with the reuse of those innovations by others in a private-collective software development context. This relationship is studied in the setting of eleven “wiki-like” programming contests, where contest submissions are open for reuse by others, each involving more than one hundred contributors and several thousand attempts to generate, over a one-week period, the “best” software solution to a difficult programming challenge. We discuss the implications of these findings in light of the literature on private-collective innovation with an emphasis on the importance of considering both individual and community perspectives as they relate to knowledge creation, reuse and recombination for innovation.
Download PDF

How to Manage Outside Innovation

by Karim Lakhani
MIT Sloan Management Review 50, no. 4, Summer 2009

Restoring American Competitiveness

by Gary P. Pisano and Willy C. Shih
Harvard Business Review, July-August 2009
Link to Story

Which Kind of Collaboration is Right for You? The New Leaders in Innovation will be those who figure out the best way to leverage a network of outsiders

by Gary P. Pisano and Roberto Verganti
Harvard Business Review, December 2008
Link to Story

Design-Driven Innovation: How to Compete by Radically Innovating the Meaning of Products

by Roberto Verganti
Harvard Business School Publishing, January 01, 2009

Until now, the literature on innovation has focused either on radical innovation pushed by technology or incremental innovation pulled by the market. In this book, Roberto Verganti introduces a radical shift in perspective that introduces a bold new way of competing – it’s about having a vision, and taking that vision to the customers. Design-driven innovations do not come from the market; they create new markets. They don’t push new technologies; they push new meanings. With detailed examples from leading European and American companies, Verganti outlines that for truly breakthrough products and services, we must look beyond customers and users to those experts (“interpreters”) who deeply understand and shape the markets they work in.

Intellectual Property, Architecture, and the Management of Technological Transitions: Evidence from Microsoft Corporation

by Alan MacCormack, John Alan David, and Marco Iansiti
Journal of Product Innovation Management

Getting Clear About Communities in Open Innovation

by Joel West and Karim Lakhani
Industry & Innovation 15, no. 2, April 2008

How to Capture Value from Innovation: Shaping Intellectual Property and Industry Architecture

by Gary P. Pisano, Teece, David J.
California Management Review, Fall 2007

The Principles of Distributed Innovation

by Karim Lakhani and Jill A. Panetta
Innovations: Technology, Governance, Globalization 2, no. 3, Summer 2007

Getting Unusual Suspects to Solve R&D Puzzles

by Karim Lakhani and Lars Bo Jeppesen
Harvard Business Review, 85, no. 5, May 2007

Innovating Through Design

by Roberto Verganti
Harvard Business Review, December 2006

Organization Design and Effectiveness over the Innovation Life Cycle

by Westerman, George, F. Warren McFarlan, and Marco Iansiti
Organization Science, March-April 2006

Science Business: The Promise, the Reality, and the Future of Biotech

by Gary P. Pisano
Harvard Business School Press, 2006

In Science Business, Professor Pisano analyzes why the biotechnology industry failed to perform up to expectations despite all its promises. Professor Pisano’s unique critique of the industry reveals the underlying causes of biotech’s problems and offers an overall analysis on how the industry works. According to Pisano, the biotech industry’s faces three unique business challenges: 1) the financing of high risk R&D investments in uncertain and long time horizons, 2) rapid learning to keep pace with advances in drug science knowledge, and 3) integration of capabilities across a broad spectrum of scientific and technological knowledge bases. He prescribes an approach to fixing the industry which includes new business models, modified organizational structures, and financing arrangements that place greater emphasis on integration and long-term learning over shorter-term “monetization” of intellectual property.

Perspectives on Free and Open Source Software

by Karim Lakhani co-editor
The MIT Press, June 2005

Has the creation of software that can be freely used, modified, and redistributed transformed industry and society, as some predicted, or is this transformation still a work in progress? Perspectives on Free and Open Source Software brings together leading analysts and researchers to address this question, examining specific aspects of F/OSS in a way that is both scientifically rigorous and highly relevant to real-life managerial and technical concerns.The book analyzes a number of key topics: the motivation behind F/OSS—why highly skilled software developers devote large amounts of time to the creation of “free” products and services; the objective, empirically grounded evaluation of software—necessary to counter what one chapter author calls the “steamroller” of F/OSS hype; the software engineering processes and tools used in specific projects, including Apache, GNOME, and Mozilla; the economic and business models that reflect the changing relationships between users and firms, technical communities and firms, and between competitors; and legal, cultural, and social issues, including one contribution that suggests parallels between “open code” and “open society” and another that points to the need for understanding the movement’s social causes and consequences.

Managing the Sources of Uncertainty: Matching Process and Context in Software Development

by Alan MacCormack and Roberto Verganti
Journal of Product Innovation Management May 2003