Michael G Jacobides
Sir Donald Gordon Professor of Entrepreneurship and Innovation; Professor of Strategy and Entrepreneurship
BSc (Athens) MA PhD (Wharton)
Michael G Jacobides (see www.jacobides.com) is the Sir Donald Gordon Professor of Entrepreneurship & Innovation and Professor of Strategy at London Business School. His work, which has received the Sloan Foundation Award, has appeared in the top academic journals such as SMJ, AMJ, AMR, OrgSci and Industrial & Corporate Change, where he is a co-Editor. He studies industry evolution, value migration, firm boundaries and organization design. His recent work has shed light on the emergence and development of digital platforms and ecosystems and has looked at the strategic and policy issues this raises. He has visited Harvard, NYU, Cambridge, Imperial, Bocconi and Wharton, where he obtained his PhD, after studying at Athens, Cambridge and Stanford. He is the Chief Expert Advisor on the Digital Economy at the Hellenic Competition Commission and a co-author of the WEF’s White Paper on Digital Platforms and Ecosystems. He is also a Visiting Scholar at the New York Fed, working on the shifting business model of financial intermediation.
Michael is the Lead Advisor of EvolutionLtd and an Academic Advisor to the Boston Consulting Group. A winner of the 2018 Theory to Practice Award from the StrategieForum, he was selected in 2019 as one of the Thinkers50. He writes for HBR, SMR and Forbes.com, and has appeared at the FT, CNN and BBC. He works on thought leadership with consultants such as McKinsey, IDEO, Accenture, PwC, Deloitte, Keystone and ECSi, and on strategy with corporates such as Haier, Huawei, MasMovil, Vodafone, Nokia, SAP, Enel, Santander, Helvetia, Zurich, CS, Airbus, DeBeers, Burberry, MerckSerono and the NHS. He served on the Global Agenda Council of the World Economic Forum and has presented at the Davos Annual meetings.
- mjacobides@london.edu
- +44 (0)20 7000 8716
- Michael G Jacobides CV
- Industry evolution and profit migration
- Business model change
- Strategy in changing environments
- Corporate turnarounds and organisational transformation
- Structural change and policy challenges
2024
Building synthetic worlds: lessons from the excessive infatuation and oversold disillusionment with the Metaverse
Jacobides M G; Candelon F; Krayer L; Round K; Chen W
Industry and Innovation 2024 Vol 31:1 p 105-129
Externalities and complementarities in platforms and ecosystems: From structural solutions to endogenous failures
Jacobides M G
Research Policy 2024 Vol 53:1 p 104906
2023
The power of modularity today: 20 years of 'Design Rules'
Brusoni S; Henkel J; Jacobides M G; Karim S; MacCormack S; Puranam P; Schilling M
Industrial and Corporate Change 2023 Vol 32:1 p 1-10
2022
How to Compete When Industries Digitize and Collide
Jacobides M G
California Management Review 2022 Vol 64:3 p 99-123
2021
Ecosystems and competition law in theory and practice
Jacobides M G; Lianos I
Industrial and Corporate Change 2021 Vol 30:5 p 1199-1229
Mapping a sector’s scope transformation and the value of following the evolving core
Cetorelli N; Jacobides M G; Stern S
Strategic Management Journal 2021 Vol 42:12 p 2294-2327
Regulating platforms and ecosystems: an introduction
Jacobides M G; Lianos I
Industrial and Corporate Change 2021 Vol 30:5 p 1131-1142
The evolutionary dynamics of the artificial intelligence ecosystem
Jacobides M G; Brusoni S; Candelon F
Strategy science 2021 Vol 6:4 p 412-435
2020
Adapt Your Business to the New Reality
Jacobides M G; Reeves M
Harvard Business Review 2020 Sep-Oct Vol 98:5 p 74-81
When the default just won't do: resilience as the new competitive driver
Jacobides M G; Lang N; von Szczepanski K
Management and Organization Review 2020 Vol 16:4 p 741-746
2019
Designing digital ecosystems
Jacobides M G
in Platforms and Ecosystems: Enabling the Digital Economy, World Economic Forum. Briefing Paper, pp. 13-18
How Business Ecosystems Rise (and Often Fall)
Reeves M; Lotan H; Legrand J; Jacobides M G
MIT Sloan Management Review 2019 Vol 60:4 p 1-6
How digital platforms and ecosystems can reinvigorate public-private collaboration
Jacobides M G; Sundararajan A; Van Alstyne M
in Platforms and Ecosystems: Enabling the Digital Economy, World Economic Forum. Briefing Paper, pp. 24-25
In the Ecosystem Economy, What’s Your Strategy?
Jacobides M G
Harvard Business Review 2019 Vol 97:5 p 128-137
The myths and realities of business ecosystems
Fuller J; Jacobides M G; Reeves M
Sloan Management Review 2019 Feb 25th 2019
2018
Toward a theory of ecosystems
Jacobides MG; Cennamo C; Gawer A
Strategic Management Journal 2018 Vol 39:8 p 2255-2276
2017
Architecture and dynamic capabilities
Jacobides M G
in Teece D J (ed), Handbook of Dynamic Capabilities, Oxford University Press:Oxford (Forthcoming 2017/18)
Public administration and the Tragic Trident: understanding the organizational and drivers of the Greek malaise
Jacobides M G
In Meghir C, Pissarides C, Vayanos D, Vettas N (eds), Beyond austerity: reforming the Greek economy, MIT Press, 2017
Transformation of corporate scope in U.S. banks : patterns and performance implications
Cetorelli N; Jacobides M G; Stern S
Federal Reserve Bank of New York staff report ; No 813
What you pay and what you get: the evolution of fund terms, fundraising, and returns in private equity
Jacobides M G; Umana U
Adveq Research Series report 2017
2016
Agency, structure, and the dominance of OEMs: Change and stability in the automotive sector
Jacobides M G J; MacDuffie J P; Tae J
Strategic Management Journal 2016 Vol 37:9 p 1942-1967
Industry architecture
Jacobides M
In Augier M, Teece D J eds., Palgrave Encyclopedia of Strategic Management, Palgrave 2016
2015
Kingpins, bottlenecks and value dynamics along a sector
Jacobides M G; Tae C J W
Organization Science 2015 Vol 26:3 p 889-907
The shifting business model of private equity: Evolution, revolution, and trench warfare
Jacobides MG; Saaverda JR
Adveq Research Series report 2015 September
What drove the financial crisis? Structuring our historical understanding of a predictable evolutionary disaster
Jacobides M G
Business History 2015 Vol 57:5 p 716-735
2014
Before prescribing the medicine, we need to better diagnose the malady
Jacobides M G
Europes World 2014 Autumn p 88-89
From black swans to grey rhinos: Four ways academics can help managers
Jacobides M
McKinsey Quarterly 2014 50th Anniversary Edition Summer:3 p 52-63
Rethinking the future of financial services: A structural and evolutionary perspective on regulation
Jacobides M; Drexler M; Rico J
Journal of Financial Perspectives 2014 Vol 2:1 p 47-72
2013
How industry architectures shape firm success when expanding in emerging economies
Jacobides M G; Kudina A
Global Strategy Journal 2013 Vol 3:2 p 150-170
2012
Capabilities: Structure, agency and evolution
Jacobides M G; Winter S G
Organization Science 2012 February Vol 23:5 p 1365-1381
How value migrates within an industry architecture: Kingpins, bottlenecks and evolutionary dynamics
Tae C W; Jacobides M G
Academy of Management Best Papers Proceedings 2012 p 1-6
The dynamics of wealth, profit and sustainable advantage
Jacobides M G; Winter S G; Kassberger S M
Strategic Management Journal 2012 Vol 33:12 p 1384-1410
Strategy bottlenecks: How TME players can shape and win control of their industry architecture
Jacobides M G
Insights 2011 Vol 9:1 p 84-91
The future of finance: Issues in re-shaping the sector’s landscape
Jacobides M G
AIM Research Briefing Note 2011 April
2010
Industry change through vertical disintegration: How and why markets emerged in mortgage banking
Jacobides M G
reprint of Academy of Management Journal in Organizational Learning and Knowledge Management, Edward Elgar Publishing, April 2010.
Strategy tools for a shifting landscape
Jacobides M G
Harvard Business Review 2010 Vol 88:Jan-Feb p 76-84
Survival of the reckless: feedback, foresight and the evolutionary roots of the financial crisis
Jacobides M G; Winter S G
American Economics Association Meetings Electronic Proceedings 2010 January
2009
Don't let this crisis go to waste!
Jacobides M G
Business Strategy Review 2009 Vol 20:3 p 71-75
Strategic dynamics in industry architectures and the challenges of knowledge integration
Brusoni S; Jacobides M G; Prencipe A
European Management Review 2009 Vol 6:4 p 209-216
2008
How capability differences, transaction costs, and learning curves interact to shape vertical scope
Jacobides M G
Organization Science 2008 Vol 19:2 p 306-326
Industry change through vertical disintegration: How and why markets emerged in mortgage banking
Jacobides M G
Book Chapter: In Organizational Learning and Knowledge Management, Edward Elgar Publishing, 2008
Playing football in a soccer field: value chain structures, institutional modularity and success in foreign expansion
Jacobides M G
Managerial and Decision Economics 2008 Mar/Apr Vol 29:2/3 p 257-276
2007
Benefiting from innovation:value creation, value appropriation and the role of industry architectures
Jacobides M; Knudsen T; Augier M
Research Policy 2007 Vol 35 p 1200-1221
Entrepreneurship and firm boundaries: the theory of a firm
Jacobides M G; Winter S G
Journal of Management Studies 2007 November Vol 44:7 p 1213-1241
Organizational structure and decision-making
Jacobides M G
In Starbuck W and Hodgkinson G eds., Handbook of decision-making, Oxford University Press, 2007
The inherent limits of organizational structure and the unfulfilled role of hierarchy: lessons from a near-war
Jacobides M G
Organization Science 2007 May-June Vol 18:3 p 455-477
2006
Architecture and design of organizational capabilities
Jacobides M G
Industrial and Corporate Change 2006 Feb Vol 15:1 p 151-171
Designing the boundaries of the firm: from 'make, buy or ally' to the dynamic benefits of vertical architecture
Jacobides M G; Billinger S
Organization Science 2006 Vol 17:2 p 249-261
Who does what and who takes what: benefiting from innovation
Jacobides M G; Knudsen T
AIM Management Briefing, December 2006
2005
Co-evolution of capability and transaction costs: explaining the institutional structure of production
Jacobides M G; Winter S G
Strategic Management Journal 2005 May Vol 26:5 p 395-413
Dynamic limits of specialization: vertical integration reconsidered
Jacobides M G; Cacciatori E
Organization Studies 2005 Vol 26:12 p 1851-1883
Industry change through vertical dis-integration: how and why markets emerged in mortgage banking
Jacobides M G
Academy of Management Journal 2005 Jun Vol 48:3 p 465-498
Losing sight of the forest for the trees?: productive capabilities and gains from trade as drivers of vertical scope
Jacobides M G; Hitt L M
Strategic Management Journal 2005 Vol 26:13 p 1209-1227
2003
Institutional form and organizational evolution: lessons from the mortgage industry
Jacobides M G
in Academy of Management Proceedings (BPS Division), 2003
2001
Case-study in capabilities-based restructuring: mortgage banking
Jacobides M G
Banker 2001 Oct p 12
Information policy: shaping the value of agency relationships
Jacobides M G; Croson D C
Academy of Management Review 2001 Vol 26:2 p 202-223
Mortgage banking unbundling: structure, automation and profit
Jacobides M G
Mortgage Banking 2001 Jan p 28-40
Technology with a vengeance: the new economics of mortgaging
Jacobides M G
Mortgage Banking 2001 Oct p 118-130
1997
Agency relationships and monitoring in electronic commerce
Jacobides M G; Croson D C
International Journal of Electronic Commerce 1997 Spring Vol 1:3 p 65-82
1996
Information policy: shaping the value of agency relationships
Jacobides M G; Croson D C
in Proceedings of the Academy of Management Meetings, 1996
Reconsidering the dynamics of firm size, incumbency, industry structure and propensity to innovate
Jacobides M G
in Proceedings of the Academy of Management Meetings, 1996
Rethinking the impact of information technology on transaction costs and outsourcing practices
Jacobides M G
in Proceedings of the Eastern Academy of Management Meetings, p 2-6, 1996
1995
Housing sector in the hellenic reality: an assessment of major economic aspects
Jacobides M G
TOPOS, Review of Urban and Regional Studies 1995 April Vol 9 p 3-40
1992
Macro-economic approach to venture capital: elements of a dynamic analysis
Jacobides M G
Bulletin of the Hellenic Banks' Association 1992 Vol 2 p 181-200
1991
Venture capital: historical overview and a functional analysis
Jacobides M G
Bulletin of the Hellenic Banks' Association 1991 Vol 3 p 141-159
2021
Ecosystems and competition law in theory and practice
Jacobides M G; Lianos I
Centre for Law, Economics and Society
Going with the flow: changes in banks' business model and performance implications
Cetorelli N; Jacobides M G; Stern S
Federal Reserve Bank of New York
2017
Transformation of corporate scope in US banks: patterns and performance implications
Cetorelli N; Jacobides M G; Stern S
Social Sciences Research Network
2016
Ripples through the value chain and positional bottlenecks: innovation and profit evolution in a competitive setting
Jacobides M G; Veloso F; Wolter C
Working Paper
The dynamics of coordination regimes: implications for organization design
Puranam P; Jacobides M G
none
2006
How profits, production and resource payments evolve over time: understanding the dynamics of a Schumpeterian wave
Jacobides M G
Strategic and International Management Working Paper
2005
Designing the boundaries of the firm: from "make, buy or ally" to the dynamic benefits of vertical architecture
Jacobides M G; Billinger S
Strategic and International Management Working Paper
Why interface specification varies between organizations
Puranam P; Jacobides M G
Strategic and International Management Working Paper
2003
How do markets emerge?: organizational unbundling and vertical disintegration in mortgage banking
Jacobides M G
Strategic and International Management Working Paper
Losing sight of the forest for the trees?: productive capabilities and gains from trade as drivers of vertical scope
Jacobides M G; Hitt L M
Strategic and International Management Working Paper
2022
Building an organisation for the ecosystem era: Weighing up the Recipe of Haier’s Internet of Food
Jacobides M; Albrighton T; Chou M; Duke L; Ma D; Mittal A
From Products to Experience Ecosystems: Haier’s Internet of Food
Jacobides M; Duke L; Ma D; Mittal A
2020
Haier in 2014: An entrepreneurial juggernaut facing a world of platforms and ecosystems
Jacobides M; Duke L
Haier’s (2019) ecosystem revolution: From Rendanheyi 2.0 to Rendanheyi 3.0
Jacobides M; Duke L
Haier’s Rendanheyi 2.0: An ecosystem revolution
Jacobides M; Duke L
2010
Turnaround at UCLH: A hospital in intensive care case (A) and (B)
Devlin A; Shirodaria C; Jacobides M; Verheul R
Teaching portfolio
Our teaching offering is updated annually. Faculty and programme material are subject to change.
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Masters Degrees electives
Optional courses providing a deep dive into specialist areas.
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Managing Corporate Turnarounds
Explore the management issues that arise when a financially-distressed firm needs a radical change to ensure its survival. -
Profit, Power and Fairness in the Digital Economy
The meteoric growth of a small, highly profitable and extremely powerful set of technology-based firms has redefined sectors from media to news, commerce to healthcare, in an ever expanding footprint. The power that these firms have amassed has raised fears of increasing and endemic economic inequity, with those who inescapably operate in the shadow of Big Tech needing to accept whatever terms they are offered. This course aims to address these issues head-on, drawing on the most recent thinking, bringing some of the key stakeholders from policy, advocacy and regulation to debate with the class. It draws on areas of topical interest such as AI, the metaverse and the gig economy, focusing on the opportunity to debate questions of success as they are inextricably linked to power abuse and dominance. PROGRAMMES WITH THIS ELECTIVE
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Managing Corporate Turnarounds
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Executive Education
Short programmes offering academic excellence, global focus and exceptional diversity of perspective.
View programmes Show lessShow less- Next Generation Digital Strategy
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Senior Executive Programme
"Thinking strategically, developing leadership skills and managing globally are the keys to achieving and maintaining competitive advantage in a rapidly evolving marketplace".