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1
Whitaker, Stephan David. "Financial innovations in municipal securities markets." Journal of Public Budgeting, Accounting & Financial Management 30, no. 3 (September 3, 2018): 286–314. http://dx.doi.org/10.1108/jpbafm-02-2018-0006.
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Purpose The purpose of this paper is to measure how frequently innovative financial products appeared or became widely adopted in the municipal securities markets over the last two decades; and also investigate what types of issuers adopted the innovations, the relationship between yields and innovation and the patterns of diffusion within states. Design/methodology/approach Using comprehensive data on municipal securities issued from 1992 to 2015, the author searches for financial innovations as defined in the literature. The author uses issuer fixed effects models to characterize the relationship between yields and use of innovative products. Other models provide estimates of the conditional correlations between issuer characteristics and innovation usage. Finally, the author fits trend models to identify significant differences in the pace of adoption between different types of issuers. Findings In total, 35 security features fit one or more definitions of innovation. Extensive analysis is presented for four innovations that represent significant transfers of risk: variable rates, put options, corporate backers and derivatives. Small issuers used these innovative products, but the largest issuers adopted them to a greater extent. Usage appears to diffuse within states. Issuance of innovative securities fell during the financial crisis and has not recovered. Novel securities since the financial crisis have been created by legislation rather than by market participants. Research limitations/implications The data appear to cover all or nearly all municipal securities, but they do not cover loans or other types of municipal borrowing. Practical implications This analysis reveals that financial innovations in municipal securities markets usually take the form of a rare practice becoming widespread rather than a never-before-seen feature appearing in the market. Changes in response to legislation are an exception. Social implications Regulators concerned about financial stability can monitor the expansion of formerly rare securities features. This will be informative about new risks or transfers of risk in the market. They can also anticipate that expanded use of an innovation by states and high-volume issuers will be followed by adoption of the innovations by smaller, less sophisticated issuers in subsequent years. Originality/value This paper is the first attempt to empirically analyze the extent of financial innovation in municipal securities. Existing public finance literature has proposed definitions of financial innovation, qualitatively documented some specific innovations and empirically analyzed others. However, no previous study has empirically analyzed the entire municipal securities market for all possible innovations.
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CHIU, Iris H.-Y. "A Rational Regulatory Strategy for Governing Financial Innovation." European Journal of Risk Regulation 8, no. 4 (October 3, 2017): 743–65. http://dx.doi.org/10.1017/err.2017.50.
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AbstractModern financial regulation has predominantly been economically-driven,1 progressing from addressing market failures to making markets more competitive and work better.2 The UK Financial Conduct Authority is expressly mandated to pursue regulatory objectives that maintain market integrity and protect consumers (addressing market failures) and to promote competition (making markets work better).3 Both the FCA and its sister regulator, the Prudential Regulation Authority (for banks), have recently adopted innovative regulatory initiatives to promote technologically-driven innovation, aimed at making markets work better. These initiatives are also a response to the recent explosion of technologically-led financial innovation outside of the regulatory perimeter.In promoting financial innovation, we argue that the regulators have insufficiently focused on the need to govern financial innovation more generally. Although this concern may seem premature, the regulatory innovations are increasingly extending the perimeter for regulatory oversight of financial innovations. As the regulatory innovations have the potential to develop into more mature regulatory frameworks for governing financial innovation, we argue that regulators should manage the risks of their current approach and develop a regulatory strategy framework for balancing regulatory objectives and developing regulatory policy. We propose a framework anchored in rationality, consistency and accountability in governing financial innovation.
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Ruiz-Pava, Guillermo, and Clemente Forero-Pineda. "Internal and external search strategies of innovative firms: the role of the target market." Journal of Knowledge Management 24, no. 3 (June 4, 2018): 495–518. http://dx.doi.org/10.1108/jkm-08-2017-0349.
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Purpose This paper aims to develop the concept of internal search of ideas to show the contrast between search strategies adopted by firms that introduce new products into local and international markets. Design/methodology/approach Based on data from 2,652 innovative firms, the paper uses factor analysis to explore and confirm appropriate groups of sources of innovative ideas. The analysis differentiates between internal and two types of external sources. Logistic and bivariate regressions reveal different search strategies for innovation in local and international markets. Findings Firms reporting products new to international markets exhibit search strategies combining ideas from internal sources with ideas from other firms. Firms reporting products new to local market reveal a search strategy centered on ideas from other firms. Practical implications Managers and policymakers wishing to promote innovations for international markets should concentrate their resources on developing the organizations’ capacity to generate ideas internally while monitoring other firms’ ideas. Managers targeting local markets may focus their efforts on intelligence over ideas coming from other firms. Originality/value Clarifying the relationship between knowledge and ideas, the paper finds that search strategies of firms are more effective for innovation depending on the target market. Firms searching for ideas among other firms generate ideas that might trigger innovation in products new to local markets. Firms searching both for internal and external ideas generate ideas leading to products new to international markets.
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Mikhaylova, Nataliya, and Ksenia Shvetsova. "The System of the Competitive Promotion of Russian Innovations in the Global Market." Vestnik Volgogradskogo gosudarstvennogo universiteta. Ekonomika, no. 3 (December 2020): 160–72. http://dx.doi.org/10.15688/ek.jvolsu.2020.3.14.
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The globalization of innovation collaboration provides an opportunity for the most successful innovators to scale their businesses by leveraging the potential of new markets, supplanting less successful innovators that previously existed in those markets. At the same time, niche national leaders of the innovation process have competitive advantages to maintain their positions in the global market. Changes in the scale of economic activity have a direct impact on the performance indicators of all participants in the economic process, which determines the relevance of this study. By increasing the potential for innovation, the use of innovation activates the process of national companies entering the world market of high-tech products. The authors consider the obstacles to the competitive promotion of domestic innovations in the global market: a high degree of monopolization of Russian economy, high entry barriers to the market, which reduces the quality of innovation activities of large enterprises and limits the flow of financial resources into innovation processes at the level of small and medium-sized businesses. Along with this, todays Russian innovator is under severe pressure from the collective West, which, combined with the lack of its own technological base for full-cycle innovative production, can be viewed as a critical obstacle to the uninterrupted promotion of domestic innovations in the global market. The article examines the main existing and potential competitive advantages of Russian innovative business relevant from the point of view of ensuring its functioning in the system of global value chains in the innovation sphere.
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Vdovichen, Anatolii, and Olha Vdovichena. "MANAGEMENT MODEL OF THE TOURISM BUSINESS TERRITORY DEVELOPMENT BASED ON INNOVATION APPROACH." Economic Analysis, no. 28(2) (2018): 9–20. http://dx.doi.org/10.35774/econa2018.02.009.
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Introduction. The article focuses on achievements, both foreign and domestic scientists, considering the need to use innovative management for effective development of tourism in Ukraine. Purpose. The article aims to analyse and systematize the main approaches to the development of innovative tourism business area in terms of disproportionality global and local tourist market. Method (methodology). In order to achieve the goal, the following tasks have been defined: to investigate the categorical apparatus of the concept of "innovation in tourism" (it will define the essence of this category); to offer a classification of types of innovations in the tourism business on the basis of the views of both domestic and foreign scholars; to provide a basic model for the development of innovative IT projects in the field of tourism services. The object of the research is the process of applying innovations in the tourism business in the conditions of disproportionate development of national and regional tourism services markets. The theoretical and practical approaches to the application of innovations in the development of tourism in Ukraine have become the subject of the study Results. We have investigated that the development of innovative IT start-ups (IT projects) in tourism occurs if the following three components: tourism business, innovating technology and information systems and technology management. The essence of the innovative approach in tourism is the creation of new and improvement of existing services, development of new markets, strategic business alliances, active introduction of modern information technology, new forms and methods of management. The effective use of innovations will lead to the creation of competitive tourism products and services both in the national and international markets.
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Kornilov, Georgy V., and Arkady V. Trachuk. "Identifying lead markets for the international banknote production industry." Russian Management Journal 18, no. 4 (2020): 497–524. http://dx.doi.org/10.21638/spbu18.2020.402.
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This paper contributes to theoretical study of innovation diffusion by exploring a role of lead markets factor for innovation adoption at international markets of products and technologies for national security. The study is based on data obtained from analysis of innovations in banknote production industry. The international banknote industry characterized by limited number of buyers (monopsony) and suppliers (oligopoly) is an example of highly innovative sector with important national security task to maintain integrity of currency circulation. It is a truly global industry focused on constant development of new security technologies adopted by most of the central banks. Our findings suggest the factor of lead market is one of the key elements in taking decision by the central bank to adapt certain security features and technologies for their banknotes. Geographical origination of a particular technology is been put aside when issue of national security is in place. Only the value of an innovation itself matters. We argue that lead market factor is a specific characteristic for of innovation diffusion in this sector that should be common for areas where government institutions act as single buyer when the supply is scarce i.e., military industry, space sector, some pharmaceutical markets etc.
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Onyas, Winfred Ikiring, and Annmarie Ryan. "Agencing markets: Actualizing ongoing market innovation." Industrial Marketing Management 44 (January 2015): 13–21. http://dx.doi.org/10.1016/j.indmarman.2014.10.003.
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Tyukavkin, Nikolay M. "ECONOMIC PROCESSES OF INNOVATION DEVELOPMENT BASED ON THE NATIONAL TECHNOLOGICAL INITIATIVE." Vestnik of Samara University. Economics and Management 11, no. 3 (November 4, 2020): 27–34. http://dx.doi.org/10.18287/2542-0461-2020-11-3-27-34.
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In the article the author views economic and managerial issues of development of innovative activities of industrial enterprises based on the implementation of economic processes of the National technological initiative; presents the parameters of NTI implementation; shows that the effectiveness of innovative development of industry determines the creation of future markets, allowing enterprises to shape the image of the future of industry, to carry out a continuous and complex innovation process, the production of innovations, their commercialization and market demand. The author substantiates the relevance of implementing the processes of innovative development of the industrial complex of the region on the basis of NTI, which consists in the fact that the creation of innovations and their commercialization allowed enterprises to have a leading position among similar manufacturers, creating products with a high level of knowledge intensity, thereby forming new technological markets. NTI stimulates the development of new markets, determining the forecast of economic development. Innovative development of the region's industrial complex on the basis of NTI involves the creation of an integration grouping of the industrial sector on the basis of the innovation ecosystem. The most significant result of the research is the development of a model and an algorithm for evaluating the innovative ecosystem of the industrial complex of the region based on NTI. The model reflects that the development of STI projects is carried out through the innovation support infrastructure. In order to implement innovative STI projects, a regional ecosystem of innovation support is being created on the basis of industrial clusters. The main importance in the ecosystem is the network connections of participants in innovative processes and their technological capabilities (points of technological growth). In the article it is shown that the strategy for implementing STI to create new markets and technologies is based on the innovative activity of industrial complexes. In the model of the proposed ecosystem of innovative support for the industrial complex of the region based on NTI, an algorithm for evaluating the effectiveness of its functioning has been developed.
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VON JANDA, SERGEJ, SABINE KUESTER, and MONIKA C. SCHUHMACHER. "A CONFIGURATIONAL PERSPECTIVE ON BoP INNOVATION CAPABILITY." International Journal of Innovation Management 25, no. 05 (February 5, 2021): 2150060. http://dx.doi.org/10.1142/s1363919621500602.
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Marketing capabilities are a major driver of competitive advantage across different business contexts. One of these capabilities is the ability to sense consumer needs and to develop innovations to meet these needs, referred to as innovation capability. Innovation holds the potential to improve the living conditions of resource-constrained consumers at the bottom of the world’s economic pyramid (BoP) in emerging markets. Surprisingly, research has failed to develop a comprehensive understanding of how firms can innovate successfully in BoP markets. Applying a configurational perspective, this study explores the organisational configurations that characterise firms that successfully develop innovations for the BoP market. Analysing data from an online survey with senior-level managers ([Formula: see text] = 245) in 10 emerging markets, the authors offer important insights for firms seeking to develop innovations for BoP consumers in terms of the specific organisational configurations that lead to BoP innovation success.
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Cai, Quan, Ying Ying, Yang Liu, and Wei Wu. "Innovating with Limited Resources: The Antecedents and Consequences of Frugal Innovation." Sustainability 11, no. 20 (October 18, 2019): 5789. http://dx.doi.org/10.3390/su11205789.
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Frugal innovation is a resource scarce solution for emerging market firms. Based upon the resource-constrained innovation perspective, this research theoretically explores and empirically examines the drivers and consequences of frugal innovation. The results of a firm-level survey show that two types of frugal innovation (cost innovation and affordable value innovation) positively affect the performance of emerging-market firms. We also address the issues of how emerging-market firms deal with institutional, technological, and market constraints in emerging markets, and we show how these constraints drive frugal innovation. We find that emerging-market firms with higher levels of capability for institutional leverage and bricolage, and firms that face perceived dysfunctional competition, tend to generate more affordable, value-added new products. Overall, these findings have important implications for emerging-market firms seeking to conduct frugal innovation in resource-constrained emerging markets.
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Rudolf, Stefan, Casimir Ortlieb, Christian Tönnes, and Günther Schuh. "Discovering Product Innovation Potential within Existing Product Architectures." Applied Mechanics and Materials 794 (October 2015): 540–46. http://dx.doi.org/10.4028/www.scientific.net/amm.794.540.
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New and innovative products are drivers for successful and sustainable growth of companies. Only a continuous stream of innovations can defend established market segments and create new markets for the company. Especially for European companies, innovations offer the opportunity for differentiation against competitors and therewith help to consist the present cost pressure mainly coming from Asian countries. Thereby, innovation inherent risks regarding limited product success, longer development times and quality lacks threaten the success of the innovation process. With this paper, a new approach is introduced, which aims at the reduction of the risks in the innovation processes. This is realized by shifting the focus from a customer requirement driven innovation screening to a product portfolio based innovation approach. The idea is to identify innovation opportunities within existing portfolios to maximize the use of existing company capabilities.
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Granstrand, Ove. "Towards a Theory of Innovation Governance and the Role of IPRs." GRUR International 69, no. 4 (April 1, 2020): 341–54. http://dx.doi.org/10.1093/grurint/ikaa024.
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Abstract This paper theorizes about innovation governance, especially about governance of open innovation and the nature and role of IPRs. A reinterpretation of open innovation is offered in terms of the emergence of various types of markets for inputs to and outputs from innovative activities. These open innovation markets are typically markets for ideas, technologies, knowledge and data such as licensing markets, equity markets, and matching markets for innovation collaborations and correspond to various types of open innovation strategies viewed from the inside out in a focal firm's perspective. Open innovation – seen as a set of quasi-integrated organizational forms for innovative activities in between market and hierarchical firm organizations – is then explainable in terms of determinants of supply and demand. Intellectual property rights (IPRs) then play a new role as tools for innovation governance, thereby economizing on governance costs in an extended transaction cost framework. Licensing of usage rights is key to using IPRs for innovation governance. The by now standard property rights approach to rights in intellectual resources has to be challenged, however, and referred to as ‘intellectual rights’ rather than IPRs. In addition, the governing role of IPRs can be improved by combining them with liabilities into a hybrid approach. Organizational responsibilities provide still another institutional arrangement for innovation governance, and integration of rights, liabilities and responsibilities provide a new theoretical perspective on innovation governance – a perspective that also can provide links between organization theory, transaction cost economics and property rights theory.
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RICHNÁK, PATRIK. "INTENSITY OF INNOVATION ACTIVITY AND ITS PROGRESSIVITY IN ENTERPRISES IN SLOVAKIA IN THE ERA OF INDUSTRY 4.0." AD ALTA: 11/01 11, no. 1 (June 30, 2021): 250–54. http://dx.doi.org/10.33543/1101250254.
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At present, it is not easy to define and recognise the innovative potential of an enterprise in a market environment. It is about identifying the components, relationships and understanding the concepts, interconnections and achieving the expected economic, social, environmental consequences of introducing and managing innovation. Innovation is associated with increased performance, the creation of new markets and competitive advantage. Enterprises are innovating to defend their existing competitive positions as well as to seek a sustainable competitive advantage. The paper's main goal was to examine the degree of the introduction of innovations in enterprises in Slovakia in the era of Industry 4.0 on the basis of a knowledge base and a questionnaire survey. By applying theoretical knowledge and statistical methods of evaluating the questionnaire survey, we came to potential opportunities for the development of innovation activity in the ongoing fourth industrial revolution in the surveyed enterprises.
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Barbour, Olivia, and John Luiz. "Embracing Solutions-Driven Innovation to Address Institutional Voids: The Case of Uber and the Middle of the Pyramid." California Management Review 62, no. 1 (September 25, 2019): 31–52. http://dx.doi.org/10.1177/0008125619876902.
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This article explores solutions-driven innovation within an emerging market context, specifically in Africa, and how it can be utilized as a strategy by multinational enterprises to address institutional voids in these markets. Through a qualitative case study of Uber and their expansion into Africa, it demonstrates how solutions-driven innovation can create markets and mitigate distance and institutional voids in emerging market contexts. Uber created markets in Africa by developing a solution to consumers’ unmet needs. Such solutions-driven innovation can create opportunities not only at the bottom but also in the middle of the economic pyramid. But to be successful in African markets requires being mindful of how institutional voids necessitate innovative solutions and potentially different value propositions.
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Doyle, Peter. "Markets and innovation." European Management Journal 7, no. 4 (December 1989): 413–21. http://dx.doi.org/10.1016/0263-2373(89)90078-9.
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Klimanov, Denis, Olga Tretyak, Uri Goren, and Timothy White. "Transformation of Value in Innovative Business Models: The Case of Pharmaceutical Market." Foresight and STI Governance 15, no. 3 (September 24, 2021): 52–65. http://dx.doi.org/10.17323/2500-2597.2021.3.52.65.
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Creating and developing innovative business models (BM) is currently one of the key success factors for contemporary business. Rapid complex changes in the world reemphasize the need to better understand how BM can be successfully innovated in different markets. The digital component of BM innovation comes under a special spotlight, using the example of a company within the pharmaceutical industry. In particular, this study demonstrates how BM innovation can be developed and implemented in practice within the pharmaceutical market, which accelerates its digital transformation to increase the value it brings to the healthcare systems around the world while sustaining the ongoing crisis. In order to do that, the current paper offers a framework for BM innovation that defines BM elements, BM innovation aspects, and BM innovation logic. The study covers six markets that represent different value creation systems and mechanisms. This paper demonstrates how technological innovations can be activated using managerial tools and insights and also how they can be combined into the holistic system based on the needs of the key value chain actors.
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SARKISYAN, Hanna. "DIRECTIONS OF IMPLEMENTATION OF INNOVATIVE MEASURES IN REGIONAL TOURIST MARKETS." Ukrainian Journal of Applied Economics 5, no. 2 (May 7, 2020): 343–51. http://dx.doi.org/10.36887/2415-8453-2020-2-41.
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Introduction. Modern tourism is rightly considered as one of the priority vectors of regional development, which is gaining worldwide popularity and provides the lion's share of revenues to various levels of budgets in the region and the country. Underestimating the role of tourism and the need to implement innovative strategies for its growth will eventually lead to the loss of untapped opportunities and lowering the country's rating in world markets. The purpose of the article is to identify and implement innovative measures in regional tourism markets, important for regional innovation policy and the functioning of tourism on an innovative basis; types and tools of innovations that should be used in the tourism industry. Results. The article reviews the literature that highlights the problem of introducing innovative measures in regional tourism markets. The role and significance of innovation in modern tourism are clarified. The place of tourism among the markets of regional development is characterized. The goals of regional innovation policy in the context of regional tourism are highlighted. It is proposed to expand the interpretation of the concept of "social tourism". The components of the innovation potential of regional tourist markets as a symbiosis of labor, information, material and technological, financial and credit, sales and production factors are detailed. Their functional purpose in regional tourist markets is detailed. The directions of innovative activity which will promote more effective functioning of regional tourist markets and will provide constantly growing demand are outlined. The algorithm of innovative potential of regional tourist markets is offered; ways to increase the competitiveness of regional tourism markets on an innovative basis are outlined. Conclusions. The innovativeness of measures for regional development determines the energy and resource-saving technologies are generalized for different spheres as an important element of the region's competitiveness. Intensification of information, management, communication, technological solutions will eventually increase the investment opportunities of the region. Key words: innovative activity, regional tourist markets, tourist service, sales activity, innovative potential, tourism infrastructure.
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Aron, Shaurya. "Innovation: An Antitrust Trojan Horse?" World Competition 44, Issue 2 (June 1, 2021): 227–44. http://dx.doi.org/10.54648/woco2021013.
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Innovation is regarded as the spearhead of consumer benefit in a competitive market. However, a strategy of predatory innovation presents the innovator with a shower of opportunities to close down the market and drive out competitors, thereby directly affecting consumer sovereignty. An inquiry into the relationship between innovation and market structures is not only important to assess the impact of such forms of the market on innovative activities, but also for a well-founded and evidenced framing of principles of antitrust laws in respect of Intellectual Property Rights (‘IPRs’). Therefore, this article makes a case for the legal recognition, across jurisdictions including India, of predatory innovation in the context of high-tech markets to uphold the objectives of the antitrust regime, i.e., consumer welfare. The article traces the progressive steps taken by developed jurisdiction in this context and highlights how a similar approach could be adopted by India, fitting its current framework. This article, firstly, discusses the impact the market structure has on the motives and incentives for a manufacturer to innovate; secondly, brings forward the anti-competitive nature of predatory innovation in high tech markets; thirdly, advocates for the need for legal recognition of the conduct of Predatory Innovation while noting the counterarguments; lastly, concludes with identifying the effects of recognizing Predatory Innovation as anticompetitive conduct. Innovation, Predatory, Market Structures, Monopoly, Intellectual Property Rights, India, High-tech Markets, Interoperability, Platforms, Network Effects
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Blau, Benjamin M., Todd G. Griffith, and Ryan J. Whitby. "Pharmaceutical innovation and access to financial markets." PLOS ONE 17, no. 12 (December 20, 2022): e0278875. http://dx.doi.org/10.1371/journal.pone.0278875.
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While prior research shows that pharmaceutical innovation generates measurable benefits for society, over the last 70 years, the innovative activities of pharmaceutical firms have dramatically declined. In this study, we develop and test the hypothesis that to innovate, pharmaceutical firms must have access to capital through well-developed financial markets. Using a broad cross-country sample from 1989 to 2016, we document that financial market development is associated with greater levels of pharmaceutical innovation. To draw stronger causal inferences, and to overcome potential endogeneity issues, we use both instrumental variable and difference-in-difference analysis. Our results suggest that access to capital markets plays a vital role in pharmaceutical innovation.
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Szajnfarber, Zoe, and Annalisa L. Weigel. "Mechanisms of Innovation in the Space and Defense Sector." International Journal of Space Technology Management and Innovation 3, no. 1 (January 2013): 20–37. http://dx.doi.org/10.4018/ijstmi.2013010102.
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Despite a rich legacy of space sector technological achievements, agencies are increasingly being criticized for their inability to deliver on their innovative promises. Although the phenomenon of innovation has received substantial attention across multiple disciplines, it has largely focused on relatively simple products in nearly competitive markets, making its applicability to the space system context suspect. This paper reviews the economic, political science/strategic, business and operational literatures most relevant to complex product innovation in government markets. It categorizes their insights in terms of the sources of innovation as – external political-level leadership, internal bureaucratic politics, structure of the system, new technologies and user innovations – to illustrate the overlap and gaps among the disciplinary insights. It argues that past studies have over emphasized innovations that were generated by idiosyncratic events and have not adequately addressed the architectural dimension of complex product innovation. If useful prescriptions are to be developed, the process of normal complex product innovation in monopsony markets must be examined as a whole. To this end, the paper suggests several priorities for future work.
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Baldynyuk, Vasyl. "FEATURES OF INNOVATION MANAGEMENT AT MODERN ENTERPRISES." Three Seas Economic Journal 3, no. 3 (October 31, 2022): 21–27. http://dx.doi.org/10.30525/2661-5150/2022-3-4.
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The article is aimed at substantiating the peculiarities of managing the innovative activity of enterprises in modern conditions. Methodology. The article substantiates the importance of innovation activity and innovations for modern enterprises. The review of statistical data on sources of financing of innovation activity in Ukraine is carried out. The reasons that led to the actual state of innovation in the country are indicated. The main stages of innovation management at enterprises, shortcomings and the most pressing problems are determined. Results. Considering the issue of innovation management, it is worth noting that currently there is no country where economic competition for leadership in world markets would not be associated with innovation, the innovation impetus, to a greater extent, concerns Ukraine. As never before, Ukraine must be ready to use innovative chances, increase competitiveness in order not only not to suffer losses, but on the contrary - to take advantage of new opportunities associated with EU enlargement. Under such conditions it is necessary to increase the efficiency of production factors, develop new competitive advantages that should ensure successful integration into the European and world markets. Practical implications. Innovation activity involves the development and implementation of new products, goods, technologies, organizational and managerial innovations through the development and use of the innovative potential of the enterprise. That is, development based on innovations enables enterprises to keep up with the times. Value/originality. It should be noted that the process of managing the development of an enterprise on an innovative basis includes the processes of introducing and using new equipment, technologies, management, organizational and other types of innovations carried out through the coordination, organization, streamlining, regulation of innovation processes and innovation activities of the enterprise. All this is aimed at preserving, maintaining and strengthening the competitiveness of the enterprise as a whole.
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Sharmelly, Rifat. "Innovation for Emerging Markets Confronting Institutional Environment Challenges: Perspectives from Visionary Leadership and Institutional Entrepreneurship." International Journal of Business and Management 11, no. 6 (May 25, 2016): 108. http://dx.doi.org/10.5539/ijbm.v11n6p108.
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<p>Emerging markets are considered to be the largest untapped markets on earth with substantial business opportunities. However, emerging markets are characterised by weak institutional context. For entrepreneurs, how to achieve innovations in emerging markets confronting the challenge of institutional environment remains largely unexplored in the literature. This research study adopted a qualitative method using case study approach. Ten (10) top level and middle level managers were sampled, contacted and interviewed from an emerging market firm (EMF). Data was analysed using qualitative content analysis. Focusing on the product innovation for India’s masses with the creation of indigenous digital telecom switches by Centre for development of Telematics (C-DoT), our analysis reveal that entrepreneurs with visionary leadership can envision emerging market prospective and thereby have greater possibility of acting as institutional entrepreneurs to avoid uncertainty for emerging market innovations. Our proposed conceptual framework can be secured as a reference point by potential entrepreneurs to innovate targeting the emerging markets, and the study also contributes significantly to the theoretical literature on emerging market innovation formulating a set of propositions to advance research in this subject.</p>
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Bardhan, Ashok Deo. "Managing globalization of R&D: Organizing for offshoring innovation." Human Systems Management 25, no. 2 (May 16, 2006): 103–14. http://dx.doi.org/10.3233/hsm-2006-25203.
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This article analyzes the challenges brought about by the globalization of innovative activity to the science and practice of management. The task of matching organization structure and management practices to the needs of R&D offshoring is analyzed through a set of dichotomous pairs of concepts: (1) Drastic vs. Gradual and Systemic vs. Autonomous Innovation, (2) High vs. Low Skill Specificity, (3) Input Markets vs. Output Markets, (4) Intra-Firm vs. Arms Length Offshoring. In the trade-off between markets and hierarchies, the firms often come down on the side of the latter when it comes to the setting up of R&D facilities abroad. Organizational directives and internalization, i.e., intra-firm offshoring can trump market incentives and foreign outsourcing, when it comes to the uncertain returns from innovative activity, particularly in the case of drastic innovations and high skill specificity. Globalization has led to dispersed markets and firms have responded with dispersed locations of core assets, creating competence clusters all over the world, and the innovative firm of the future will restructure each individual cell, the basic building block of the firm consisting of an occupation devoted to a product, and redeploy and relocate them globally, where it is most advantageous.
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Serediuk, Tetiana, and Yurii Vdovychenko. "COMMON FEATURES AND DISTINCTIONS BETWEEN HIGH TECHNOLOGY AND INNOVATION." Baltic Journal of Economic Studies 4, no. 5 (February 11, 2019): 315. http://dx.doi.org/10.30525/2256-0742/2018-4-5-315-319.
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The goods, which are positioned on modern global markets as innovative and high-tech products, occupy more and more segments, owing to the contemporary modifications of the innovation diffusion theory and the ways of its implementation on high-tech markets. However, the meaning of the term “high technology” and “innovations” is quite disputable. An identification of the ontological characteristics of these definitions is of particular interest and practical value in terms of the transformation of a scientific and methodological framework for control of innovation diffusion in conditions of invariance on the market of high-tech information technology. Therefore, the author’s article is aimed at the identification of the above-stated definitions and generalization of their distinctions. Methodology. The methodology of the article is based on the theoretical researches of Ukrainian and foreign scientists, which are synthesized, systematized, and analysed to identify the distinctive features of “high tech” and “innovations”. One of the critical methodological tool, represented in the research, is an application of frequency analysis using online service “Google Books Ngram Viewer”, which enabled us to compare frequency of references in scientific researches of the term “innovations” and “high technologies” as well as to compile analytical database of the research. Results. As a result of the author’s study, it has been established that the frequency of using the term “innovations” is continuously increasing and the definition itself has a huge variety of interpretations. This paper suggests generalizing the innovations as the implementation of the new idea, which produces widespread and long-term changes. As distinct from innovations, a term “high technology” means the narrower spectrum of radical changes. Although it has a few names, such as “high-technology”, “high tech”, “high-tech”, “hi-tech”, which, besides technology, can have other functionality. Practical implications. The presented results make it possible to develop more efficient communication channels for innovation diffusion, more precisely to identify innovators and mechanisms of their involvement in corporate activities, alternative forms of innovative activities in corporations. Value/originality. As a result of the study, it has been proved that technologies have common features with radical technical innovations, such as high science intensity, enhanced efficiency. Nevertheless, while being distributed on the market, innovation becomes a commodity and high technologies remain the same until the creation of state-of-the-art technologies. On this basis, it is possible more precisely to introduce innovations of IT companies according to information technology market segments.
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Azar, Goudarz, and Rian Drogendijk. "Cultural distance, innovation and export performance." European Business Review 28, no. 2 (March 14, 2016): 176–207. http://dx.doi.org/10.1108/ebr-06-2015-0065.
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Purpose This paper aims to examine the relationship between cultural distance (both perceived and objective), innovation and firm export performance. Design/methodology/approach Hypotheses were tested here by structural equation modeling using data from 186 export ventures into 23 international markets by Swedish companies. Findings The results indicate that managers’ perceptions of substantial cultural differences as well as objective cultural differences (gauged using Hofstede’s (1980, 2001) scores for dimensions of national culture) and subsequent environmental uncertainty when expanding into culturally distant markets triggers strategies for interacting and integrating with the market environment. These include producing and adopting innovations to processes and products and to organizational strategy, structure and administrative procedures to cope with the new environment and overcome uncertainties. These innovations and the associated competitive advantages improve firm export performance. Originality/value Despite much research into the relationship between firm internationalization and innovation, little attention has been paid to the effect of the characteristics of the foreign markets (specifically cultural differences) on firm innovation strategies. Moreover, much research has been devoted to the effect of innovation on firm export performance, but such research has mainly focused on one type of innovation, i.e. technological innovation, while the influence of organizational innovation on firm export performance has been basically ignored. The present study validates the explanatory of cultural distance (both perceived and objective) in relation to innovation strategies (technological and organizational) and export performance.
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YuSheng, Kong, and Masud Ibrahim. "Innovation Capabilities, Innovation Types, and Firm Performance: Evidence From the Banking Sector of Ghana." SAGE Open 10, no. 2 (April 2020): 215824402092089. http://dx.doi.org/10.1177/2158244020920892.
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Innovation is considered a key driver for long-term success of firms in today’s competitive markets. This study explored the effect of innovation adoption on performance of banks in Ghana. Data for the study were obtained from 450 respondents comprising bank employees and customers in the Kumasi metropolitan area in Ghana. An exploratory factor analysis, confirmatory factor analysis, and structural equation modeling were used to analyze the data via SmartPLS 3 and SPSS V.22. Findings from this study revealed that the innovation dimensions that contribute to bank innovation are organizational, product, process, and marketing innovations. The study further revealed a direct and positive relationship between innovation dimensions (product, marketing, and organizational innovations) and bank performance. In addition, findings from this study showed a positive relationship between innovation capability and the four dimensions of innovation (organizational, product, process, and market innovations). Also, the findings revealed a significant and positive relationship between the dimensions of innovation (market, process, and product innovations) and firm performance. The practical implication is that, choosing the appropriate innovation types can enhance bank performance as well as satisfy customer needs. This study extends the literature on innovation adoption and organizational performance in the financial services from an emerging market context.
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Petrick, Irene J. "Innovation in Emerging Markets." Research-Technology Management 54, no. 4 (July 2011): 8–9. http://dx.doi.org/10.5437/08956308x5404002.
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Juma, Calestous. "Innovation in emerging markets." International Affairs 93, no. 3 (May 2017): 733–34. http://dx.doi.org/10.1093/ia/iix053.
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Shapiro, Nina. "Firms, Markets, and Innovation." Journal of Post Keynesian Economics 14, no. 1 (September 1991): 49–60. http://dx.doi.org/10.1080/01603477.1991.11489877.
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Ulph, Alistair, and David Ulph. "Labor markets and innovation." Journal of the Japanese and International Economies 3, no. 4 (December 1989): 403–23. http://dx.doi.org/10.1016/0889-1583(89)90011-7.
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Frenkel, Amnon, Shlomo Maital, Eran Leck, and Emil Israel. "Demand-Driven Innovation: An Integrative Systems-Based Review of the Literature." International Journal of Innovation and Technology Management 12, no. 02 (March 25, 2015): 1550008. http://dx.doi.org/10.1142/s021987701550008x.
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In this paper, we provide a comprehensive review of the literature on demand-driven innovation, using a generic national innovation ecosystem map as a unifying framework. We organize the literature review around four key innovation dimensions and seven related demand-driven processes. Our review reveals that business networking which accelerates access to new markets and technologies is vital for free markets. But classical competition alone cannot sustain the creation of new technologies or innovation paths. Rather, national policy is essential in creating lead markets. On the other hand the private sector has a crucial task in leading R&D activity. We found that the relationship between R&D stock and productivity is mostly positive. With regard to cluster strategies our literature review suggests that increased variety of innovative activities strengthens regional economic growth through "spillover effects" between products and industries. Based on the literature, we found that universities are evolving to play a major role in the research of innovation. The enormous innovative potential of universities therefore should be directed toward shaping more effective tools for public–private cooperation. But innovation, whether its origin is in academe or elsewhere, must follow a standardization process in order to converge into a well-defined technology. Our paper highlights a fundamental paradox underlying pro-innovation policies: while innovators often express the desire for a liberal, open and flexible market system with minimal bureaucracy and governmental interference, to allow market-driven innovation to flourish, they often benefit greatly from a variety of governmental interventions that include direct or indirect financial support (such as tax credits).
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Vokoun, Marek, and Jiřina Jílková. "Eco-Innovation Activities in the Czech Economy 2008–2014: Impact of the Eco-Innovative Approach to the Profit Stream and Differences in Urban and Rural Enterprises." Economies 8, no. 1 (January 2, 2020): 3. http://dx.doi.org/10.3390/economies8010003.
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The environmental benefits from the eco-innovation activities of enterprises have the nature of reduced material or water use per unit of output, less pollution and waste, better CO2 ‘footprint’ in production and subsequent business processes. The socioeconomic impacts are associated with circular economy benefits like reduced energy use, decreased pollution and waste, and well-organized recycling possibilities of the product after use. The goal of this paper is to evaluate this innovative approach in the Czech economy. The hypotheses are aimed at the localization of enterprises, appropriability, and characteristics of enterprises that introduce eco-innovations to markets. The dataset is provided by the Czech Statistical Office and contains observations about the innovation activities of firms. Eco-innovation was surveyed in 2008 and 2014. This paper utilizes the estimation principles of CDM (Crépon, Duguet, and Mairesse) method at the firm level. The results suggest that rural–urban separation has no impact on the financial R&D intensity but urban enterprises have a higher probability to engage in innovation activities. The probability to introduce new-to-the-market innovations and eco-innovations is not dependent on localization. High-tech and knowledge-intensive industries have a lower probability to introduce eco-innovations to the market. The change in localization of enterprises to rural areas contributed to the higher sales form innovated goods and services. Higher appropriability was also observed in product eco-innovators. This paper offers a synthesis of factors that stimulate eco-innovation and shows that eco-innovation is a viable and sustainable innovative approach for rural and urban enterprises and identifies directions for future research.
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Sharam, Andrea, and Lyndall Bryant. "The uberisation of housing markets: putting theory into practice." Property Management 35, no. 2 (April 18, 2017): 202–16. http://dx.doi.org/10.1108/pm-06-2016-0023.
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Purpose Digital disruption offers an innovative opportunity to address housing affordability issues through the use of market design theory and two-sided matching markets. The purpose of this paper is to scope a model for how “uberisation” can revolutionise the traditional apartment delivery model in Australia, leading to improved housing affordability. Design/methodology/approach This paper uses semi-structured interviews with operators of online real estate platforms and deliberative developers to examine how the principles of “uberisation”, that is two-sided matching markets, are driving innovation in the apartment supply process. Findings Findings confirm that real estate internet platforms and deliberative developers innovators are informed by the benefits of aggregating demand to reduce development risk, thus enabling apartments to be provided at a substantially lower price than by traditional methods. Research limitations/implications The number of interviews is small reflecting the limited number of market actors currently engaged in the innovations investigated. Originality/value This research is innovative as it introduces theoretical understandings gained from market design theory and applies those concepts to disrupt the apartment development process.
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Hamburg, Ileana, Gabriel Vlăduţ, and Emma O’Brien. "Fostering eco-innovation in SMEs through bridging research, education and industry for building a business oriented model." Proceedings of the International Conference on Business Excellence 11, no. 1 (July 1, 2017): 1050–57. http://dx.doi.org/10.1515/picbe-2017-0108.
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Abstract Small and medium sized companies (SMEs) assure economic growth in Europe. The Environmental Technologies Action Plan (ETAP) concentrated and mobilized Member State and stakeholder efforts bringing eco-innovation from research to market, improving market conditions, opening up global markets. Rapid and reinforced actions are now required, building on the experience of ETAP helping SMEs to have benefits by introducing eco-innovative approaches into their operations. Particularly start-ups, can be the ideal incubators for eco-innovation, and can bring to market new, less environmentally damaging products, services and processes. Generally many SMEs are struggling to survive in an ongoing global recession and often they are becoming reluctant to release innovation, particularly eco-innovation (Assante et al., 2016). In this paper we present first the differences between eco-innovation based business models and those based on regular innovations. Secondly we give some approaches tested in national and European projects with participation of the authors in order to help SMEs to develop business models of eco-innovations. The first one is to build cooperation between researchers, educators and SME staff in order to explain SMEs the advantages of such models and to implement models designed by researchers. Secondly we used practice oriented forms of training for SMEs like Problem Based Learning (PBL) as an efficient form for SMEs and entrepreneurship education to learn to solve problems like the building of an eco-innovation business model. Thirdly we use in our projects eco-innovation biographies (EIBs) reflecting the evolutionary character of such innovations and the dynamics of related policy streams.
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Nikiforova, L., and S. Tsurikov. "Development of a diversification strategy for the defense industry organization based on the integration of rational and alternative models of the strategic process." Siberian Financial School, no. 4 (December 10, 2021): 58–63. http://dx.doi.org/10.34020/1993-4386-2021-4-58-63.
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The transfer of innovations of the Military-Industrial Complex to the civilian sphere is a mechanism that should "launch" the innovation process network model. The article analyzes the specifics of strategic management of defense industry organizations that are focused on the command and administrative management model that ensures the fulfillment of the state defense order (GOZ), and it is established that for successful work in civilian markets, it is necessary to apply a market management model. The problem of integration of these models in time and space is considered in the context of the corporate innovation system (CIS). The proposed conceptual model for the development of diversification strategy for the Military-Industrial Complex organization is based on the results of the analysis of scientific and technical potential and the assessment of the innovative potential of the CIS. At the same time, the ability of the Military-Industrial Complex organization to generate value not only for the subjects of the national innovation system to solve the tasks of ensuring the competitiveness of the state in the world markets in the field of high technologies, but also for other subjects of civil industries due to the diffusion of innovations and their adaptation to the needs of market segments is evaluated. At the same time, the specialization of the organization and the possibility of producing technologically related civilian products are taken into account, since the distribution systems are fundamentally different. Assessment of innovation potential requires analysis of the following subsystems: product (scientific and technical level of products), resource; organizational (compliance of the organizational structure with innovative goals); management, knowledge management subsystem. The implementation of the proposed conceptual model allows to obtain various types of synergetic effects.
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Matzler, Kurt, Todd A. Mooradian, Johann Füller, and Markus Anschober. "Unlocking laggard markets: innovation without high tech." Journal of Business Strategy 35, no. 2 (April 14, 2014): 19–25. http://dx.doi.org/10.1108/jbs-07-2013-0050.
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Purpose – In every market there are non-consumers – potential customers that withstand an innovation. A common reason is that products targeted to early adopters or the mass market are over-engineered. Established companies usually neglect the laggards in a market. This offers growth opportunities for new entrants. These market niches can be unlocked when products are simplified and adapted to the special needs of the laggards. Design/methodology/approach – Using a short case study from an Austrian producer of cell-phones targeted to seniors, and some other examples, we show how innovative solutions can be developed by targeting to the special needs of laggards in a market. Findings – Technologies usually evolve faster than market needs and established companies, in their efforts to grow and improve profitability, try to innovate faster than their competitors. This often leads to over-engineered products. In many markets there are consumers that withstand these innovative and over-engineered products. A vacuum for low-priced, simple, and easy-to-use solutions emerges. We describe a five-step approach for unlocking these market segments and developing solutions for laggards. Originality/value – While most companies try to innovate faster than their competitors to defend their market leadership, laggard innovation targets non-consumers in the market. By simplifying over-engineered products and adapting them to the special needs of laggards, new market opportunities emerge. This paper shows how these market niches can be unlocked.
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Nade, Paschal B. "Crafting Innovativeness for Graduate Entrepreneurship Development in East Africa: Are Graduates Innovators or Imitators?" Management & Economics Research Journal 4, no. 2 (June 7, 2022): 45–62. http://dx.doi.org/10.48100/merj.2022.215.
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Innovation is a central determinant that contributes to entrepreneurs’ pursuits of opportunities. It is the vehicle that carries the means to concur market and successful establishment of an enterprise. This study aimed at assessing graduates’ innovativeness for entrepreneurship development by employing a cross-sectional research design. The study involved 124 respondents selected from a population of Master's students specialising in science subjects originating from East African countries. Objectives one and two were analysed descriptively via per cent and frequencies while objective three was analysed through inferential statistics where one sample T-test was employed for assessing the difference between innovation developed and innovation advanced to markets. The findings indicate that for all forms of innovation the level of innovation is relatively low since all the ratings were below 40 per cent. Similarly, the innovation advanced to the markets was respectively low compared to innovation developed. It is concluded that the level of innovation is limited among first-degree graduates specialising in science subjects in East African countries and the number of innovations advanced to the market for entrepreneurship development is relatively low compared to innovation developed. This calls for a review of the innovation process development in the higher learning education system. In addition, the recasting of enabling environment for innovation development is needed.
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Iandolo, Stefano, and Anna Maria Ferragina. "Does persistence in internationalization and innovation influence firms’ performance?" Journal of Economic Studies 46, no. 7 (November 11, 2019): 1345–64. http://dx.doi.org/10.1108/jes-04-2019-0152.
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Purpose The purpose of this paper is to analyze the joint effect of persistency in innovation and export on firms’ total factor productivity. In particular, the aim is to determine if exporting in international markets along subsequent periods, and being also continuously innovating over the same periods, can be associated with increases in firms’ productivity. The underlying idea is that time recurrence of these strategies is related to the firms’ ability to optimize external knowledge flows enhancing their productivity. Design/methodology/approach By using data on Italian manufacturing firms over the period 1998–2006, the authors distinguish between repeated and temporary exporting firms, as well as repeated and temporary innovators, to test (through two-step system generalized methods of moments) the existence of any combined learning-by-exporting and learning-by-doing effects. Findings This paper provides empirical findings about persistent innovation efforts being better associated with a permanent presence in foreign markets. More in detail, persistently innovative and exporting firms have better productivity results than persistently exporting (innovating) firms with non-persistent innovation (export). Combining both strategies could be an opportunity to internalize knowledge flows coming from long-lasting exposure to foreign markets. These results hold especially for small firms. Originality/value The novelty of this paper is twofold. First, the authors argue that the temporal dimension of firms’ exporting and innovating activities may influence firms’ productivity. Second, while previous studies explored the role of export and innovation on productivity in isolation, the authors consider the joint effect of this relationship and also explore it across the temporal dimension finding evidence that they have a positive, reinforced effects if firms implement these activities continuously and jointly. In this case, the effect of innovation and export on productivity is significantly higher than if firms with intermittent strategies do not have the time to internalize knowledge flows coming from participating in export market.
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Hasan, Md Rajibul, Ben Lowe, and Mizan Rahman. "Visual cues and innovation adoption among bottom of the pyramid consumers." Qualitative Market Research: An International Journal 20, no. 2 (April 10, 2017): 147–57. http://dx.doi.org/10.1108/qmr-04-2015-0032.
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Purpose This paper aims to explore how visual comprehensibility of a product can affect innovation adoption among the bottom of the pyramid (BOP) consumers in Bangladesh. Design/methodology/approach This is an exploratory qualitative study based on interviews with eight managerial respondents involved in the design and marketing of innovative products targeted at BOP consumers in Bangladesh and three respondents who are consumers of these products. Findings One key finding from this research, in comparison to innovation adoption research in developed contexts, is the distinct importance that BOP consumers attach to visual cues in learning about and understanding a new product. Practical implications This research provides guidance for private and public sector organisations selling products and services to BOP consumers explaining the role of visual cues in generating better product comprehension. It also identifies the role of social relations in facilitating the adoption of new products within this segment. Social implications By enhancing the adoption of so-called pro-poor innovations, this research can assist in bringing about positive social change and developmental benefits in this burgeoning segment of the market. Originality/value This is one of the first studies to consider innovation adoption of pro-poor innovations in BOP markets and one of the first studies to collect data on the role of visual comprehensibility for consumers in BOP markets.
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Etriya, Etriya, Victor E. Scholten, Emiel F. M. Wubben, Ron G. M. Kemp, and S. W. F. (Onno) Omta. "The importance of innovation adoption and generation in linking entrepreneurial orientation with product innovation and farm revenues: the case of vegetable farmers in West Java, Indonesia." International Food and Agribusiness Management Review 21, no. 7 (September 18, 2018): 969–88. http://dx.doi.org/10.22434/ifamr2017.0038.
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The growth of modern agrifood markets, especially in Indonesia, has stimulated entrepreneurially oriented farmers to seize business opportunities through innovation. This paper aims to investigate in a dynamic agrifood market if entrepreneurial orientation enhances innovation adoption and generation and if both of these actions enhance product innovation and, eventually, farm revenues of vegetable farmers in West Java, Indonesia. The findings demonstrate that entrepreneurial orientation enhances innovation adoption and generation, which in turn enhance product innovation. Finally, product innovation enhances farm revenues. The findings contribute to a better understanding of the role of innovation in facilitating entrepreneurially oriented farmers to perform better when facing a dynamic market. Entrepreneurial orientation enables farmers to innovate by taking risks to anticipate future demand, through either adoption of available innovations or generation of their own innovations, and both options result in new or improved products and eventually enhanced farm revenues.
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M., Maria Magdalena, Eko Sediyono, and Marwata . "STUDI DESKRIPTIF INOVASI E-RETRIBUSI PASAR." KRITIS 29, no. 2 (December 18, 2020): 135–43. http://dx.doi.org/10.24246/kritis.v29i2p135-143.
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The Salatiga City Government has launched an electronic market levy (market e-retribution) which is implemented by the Salatiga City Trade Office. Market e-retribution is an electronic market retribution management system innovation to improve the quality of services that are transparent and accountable, minimize revenue leakage and illegal levies, as well as orderly irregularities in market retribution for compulsory levies. Market e-retribution is included in the regional non-cash transaction implementation agenda in the City of Salatiga. The application of new market e-retribution innovations was carried out in two traditional markets, namely Blauran I Market and Pasar Raya I as a pilot project before being implemented in other traditional markets. This article is a qualitative research with a descriptive approach. This article will focus on discussing the innovation of market e-retribution in the City of Salatiga.
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Tabas, Jakub, Michaela Beranová, and Josef Polák. "Evaluation of innovation processes." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 60, no. 2 (2012): 523–32. http://dx.doi.org/10.11118/actaun201260020523.
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In present, innovations are spoken as an engine of the world economy because the innovations are transforming not only business entities but the whole industries. The innovations have become a necessity for business entities in order to survive on floating challenging markets. This way, innovations are driving force of companies’ performance. The problem which arises here is a question of measurement innovation’s effect on the financial performance of company or selection between two or more possible variants of innovation’s realization. Various authors which are focused on innovations processes are divided into two groups in their attitudes towards the question of influence of innovations on financial performance of companies. One group of the authors present the idea that any reliable measurement is not possible or efficient. The second group of authors present some methods theoretically applicable on this measurement but they base their approaches mostly on the methods of measurement of investments effectiveness or they suggest employment of indicators or ratios which wouldn’t be clearly connected with the outcome of innovation process. The aim of submitted article is to compare different approaches to evaluation of the innovation processes. The authors compare various approaches here and by use of analysis and synthesis, they determine their own method how to measure outcome of innovation process.
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Leavy, Brian. "Two strategies for innovating in the face of market disruption." Strategy & Leadership 45, no. 4 (July 17, 2017): 9–18. http://dx.doi.org/10.1108/sl-05-2017-0051.
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Purpose This Masterclass considers the lessons of two recent important books have contrasting but complementary insights to offer to company leaders and strategists on how to improve the odds for developing successful innovations in response to game changes in markets.” Design/methodology/approach In Dual Transformation: How to Reposition Today’s Business While Creating the Future (2017), disruptive innovation experts, Scott Anthony, Clark Gilbert and Mark Johnson offer corporate leaders a “dual transformation” template for simultaneously repositioning the traditional core business in the face of disruptive change, while also creating new businesses to harness the growth potential typically unlocked by such disruption. In The Power of Little Ideas: A Low-Risk, High-Reward Approach to Innovation (2017), innovation guru, David Robertson, and his collaborator, Kent Lineback, offer companies a “third way” for coping with historic market inflections by innovating around a core product to make it more compelling, rather than having to choose between attempting the radical or incremental innovation of the product itself. Findings The most powerful message that both books featured in this masterclass have to offer is that while it may be true, as they go on to observe, that large companies can’t innovate faster than the market, they can learn “to innovate better than the market,” through more imaginative use of legacy products, platforms and assets. Practical implications A “third way” to cope with market disruption is based on innovating around the core product, by surrounding it with a set of complementary innovations, rather than re-featuring the product itself. All of the complementary innovations operate together with the product “as a system or family to satisfy a compelling promise to the customer.” Originality/value Both Dual Transformation and The Power of Little Ideas, present different, but far from mutually exclusive, innovation strategies that can help many more great companies to survive disruptive competition.
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Hajhashem, Mohammad, and Amir Khorasani. "Demystifying the Dynamic of Disruptive Innovations in Markets with Complex Adoption Networks: From Encroachment to Disruption." International Journal of Innovation and Technology Management 12, no. 05 (September 28, 2015): 1550022. http://dx.doi.org/10.1142/s0219877015500224.
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Since it was coined by Christensen [The Innovator's Dilemma: When New Technology Cause Great Firms to Fail. Harward Business, Boston, MA], disruptive innovation (DI) has been discussed by many scholars. Although it is not a crude concept anymore, many contrary criticisms and notions around this topic may necessitate further studies about the dynamics of DI diffusion. Furthermore, since the creation of DI is the matter of diffusion rather than the emergence of innovation, this research tends to concentrate on the process of innovation diffusion within a complex network of adopters such as in the medical markets. To aid in understanding the dynamics of DI diffusion from market encroachment phase to post-disruption era, this paper conducts a longitudinal case study of Iranian medical devices markets between 2000 and 2010. Medical markets are the subject of more investigation due to the complexity of adopters' network. This complexity arises since customers and consumers are not the same in this market and the role of key decision-makers are interchangeable in different segments to adopt new medical innovations. Therefore, 30 in-depth elite interviews have been conducted with the key decision-makers to launch new innovations in the four main incumbents of Iranian medical devices market during the mentioned time span. These include Cordis, Abbott Laboratories, Medtronic, and Boston Scientific. The findings suggest that DI diffusion acceleration would not guarantee an efficient market disruption. They also state the importance of information management during and after the encroachment phase to increase the knowledge of new innovation throughout the mainstream market. Finally, attack of the followers during the encroachment phase and their reinforcing effects on the position of the market leader is discussed. The main contribution of this paper is its attempt in demystifying the dynamics of DI diffusion in markets with a complex network of adopters such as the medical devices markets. In fact this paper would elucidate the main mechanisms which contribute to a potential DI to pass the encroachment phase and disrupt the mainstream market substantially. This paper is inclined to persuade further studies on DI diffusion through complex networks of adopters and spur debates by other scholars.
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DE WAAL, GERRIT A. "AN EXTENDED CONCEPTUAL FRAMEWORK FOR PRODUCT-MARKET INNOVATION." International Journal of Innovation Management 20, no. 05 (June 2016): 1640008. http://dx.doi.org/10.1142/s1363919616400089.
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Recognising the greater variety and sophistication of product innovation strategies to target existing and previously untapped markets, the author presents an extended version of the Ansoff product-market expansion grid that highlights the different approaches for developed world and emerging markets. The proposed model consists of seven distinct categories of growth options and depicts alternative strategic possibilities within each category, where appropriate. Categories that are new to the matrix include resource-constrained innovation, necessity innovation and reverse innovation. Necessity innovation is a new concept and a special case of user-innovation, defined as innovation by resource-constrained consumers in emerging markets to serve their own unmet needs. Utilising recent industry examples from a variety of media, the author demonstrates the traits of each strategic approach to grow revenue streams through product-market innovation.
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CABRAL, JOSÉ EDNILSON DE OLIVEIRA, ARNALDO FERNANDES MATOS COELHO, FILIPE JORGE FERNANDES COELHO, and MARIA DA PENHA BRAGA COSTA. "CAPABILITIES, INNOVATION, AND OVERALL PERFORMANCE IN BRAZILIAN EXPORT FIRMS." RAM. Revista de Administração Mackenzie 16, no. 3 (June 2015): 76–108. http://dx.doi.org/10.1590/1678-69712015/administracao.v16n3p76-108.
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ABSTRACT This article extends the current research on innovation by investigating the relationship between innovative capabilities and export firms’ overall performance. From the perspectives of the resource-based view (RBV) and dynamic capability, we examine the differential and interactive effects of exploration and exploitation capabilities in product innovation for external markets and overall performance (direct and mediated by a new product). In addition, we test the moderating effect of market dynamism and the controlling effect of firm size on these relationships. Hence, the main contribution of this article is developing and empirically testing an original model, by combining these constructs that address new relationships, in an emerging country. This model was tested with data from 498 Brazilian export firms, distributed throughout all Brazilian manufacturing sectors, by firm size, and in states. The analysis was made with application of the structural equation modeling (SEM). As a result, we found support for the assumptions that exploitation capabilities influence product innovation and overall performance, whereas exploration capabilities and their interaction to exploitation capabilities influence overall performance, but not product innovation. Additionally, the relationship between exploitation capabilities and overall performance is mediated by product innovation. Unlike hypothesized, market dynamism does not moderate the relationship between product innovation and overall performance. Furthermore, firm size works as a controlling variable in the relationships analyzed. Regarding the implications for theory, this study contributes to grasp that exploitation capabilities influences a firm’s overall performance, both directly and indirectly (via product innovation), and highlights the various direct and mediatory effects of innovation on overall performance. These insights show the importance of considering the role of mediating and moderating variables in theory and research models that address the determinants of overall performance to avoid overestimation of certain constructs. Finally, the paper provides original empirical support for the hypothesis of the interdependency of product innovations for external markets and overall performance.
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Kryvych, Ia, and A. Dranitsyna. "BANKING INNOVATION AS A FACTOR IN STRENGTHENING CONFIDENCE AND CUSTOMER LOYALTY." Vìsnik Sumsʹkogo deržavnogo unìversitetu, no. 3 (2019): 33–39. http://dx.doi.org/10.21272/1817-9215.2019.3-4.
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The purpose of the article is the development of the definition and concept of "banking innovations". The classification of banking innovations is proposed and includes product (development of new or modification of existing banking products), process (improvement of banking business processes), marketing (innovations in sales channels and marketing communications of banks), technological (related to the development of technical bank capabilities) and management (changes in the organizational structure of banks, mechanisms of planning, control, incentives, etc.). The research proves the concept of "banking innovations" can be applied to all innovations in bank functioning. This paper distinguishes definition between finance and banking innovations. Finance innovations are related to the creation and dissemination of new financial instruments as well as financial technologies, institutions and markets. The concept of "banking innovation" should be understood as a process with focus on developing new or improving existing banking products (services), technology of their promotion, as well as new innovative methods of managing banking institutions in order to obtain additional income and competitive advantages. The chronology of the most important banking technologies development is analyzed in this article. Correlations between the innovative activity of banks, technological and scientific achievements of humankind are found.Key trends of development of the banking services market (contactless payment, biometric identification, digital wallets and QR codes, Internet of Things, cryptocurrency, fintech movement) are identified and characterized. The paper is emphasizes the connection between banks' innovation activities, the formation of customer loyalty and the increasing of trust to banks. Keywords: banking innovation, financial innovation, trust, loyalty.
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Lindsay, Colin, Sarah Pearson, Elaine Batty, Anne Marie Cullen, and Will Eadson. "Collaborative innovation and activation in urban labour markets." European Urban and Regional Studies 28, no. 3 (April 1, 2021): 282–97. http://dx.doi.org/10.1177/09697764211003649.
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Policymakers in the UK, having long supported centralised and marketised models of governance and delivery in the field of labour market activation, have recently begun to acknowledge the benefits of more localised, collaborative approaches to organising public services. Evidence from other European welfare states suggests that the case in favour of localised innovation may be particularly compelling in urban labour markets, where there can be pockets of severe disadvantage, but also networks of community stakeholders better able to support collaboration and innovation through user engagement. Drawing on the conceptual and empirical literature on ‘collaborative innovation’, this article discusses an example of good practice in innovative localised activation in city labour markets (‘Making It Work’ services targeting unemployed single parents in Scotland’s two largest cities). Our analysis is based on 92 in-depth interviews with single parents and key stakeholders involved in service design and delivery. We identify benefits associated with multi-stakeholder collaborative governance, distributive leadership in programme management, and practices promoting the co-production of innovative services with single parents at the frontline. However, we also note tensions between localised services committed to innovation and empowerment, and an increasingly less interventionist but more punitive liberal welfare state. We conclude by identifying potential lessons for the governance, management and delivery of activation services in urban areas.
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Plavčan, Peter, and Rastislav Funta. "Some Economic Characteristics of Internet Platforms." DANUBE 11, no. 2 (June 1, 2020): 156–67. http://dx.doi.org/10.2478/danb-2020-0009.
Full textAbstract:
Abstract Various internet platforms have rapidly developed into central points of everyday life, for private individuals as well as for companies (often dominated by a single or a few companies). At the same time these internet platforms are advancing into more and more areas of business. This creates the risk of dependency, abuse of power, manipulation, concentration of power, centralization of data and information with corresponding effects on technological development, innovation, economy, society and politics. From an economic point of view, this article examines how the strong market positions of internet platforms arise and can be maintained. The dynamics of these technology and innovation-driven markets and the differences from conventional markets are also discussed. These internet markets have emerged from a series of innovations and are characterized by rapid technological development. Taking into account the economic peculiarities as well as knowledge from innovation and governance research, recommendations are drawn up on how these problems can be dealt with.
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O’Connell, Vincent, Naser AbuGhazaleh, and Garvan Whelan. "Financial Reporting as a Source of Innovation-Relevant Competitive Intelligence." Journal of Open Innovation: Technology, Market, and Complexity 7, no. 2 (April 22, 2021): 117. http://dx.doi.org/10.3390/joitmc7020117.
Full textAbstract:
In this article, we demonstrate that contemporary financial reporting systems have the capacity to contribute significantly to the generation of innovation-relevant competitive intelligence. This potential arises because, as part of its regular work, the financial reporting system compiles, collects, analyzes, and synthesizes strategically relevant information about (i) complex internal technical processes related to inventions, discoveries, product development, process innovations, and the like; (ii) detailed sales, cost, and profit forecasts; (iii) consumer trends and innovative developments in the firm’s markets; (iv) actual and potential competitor actions in the market; and (v) regulatory changes, macro-economic trends, and information about the likely impact of government policies. We argue that this competitive intelligence can, if properly harnessed, lead to better informed discourses and decisions around innovation. Consequently, we highlight the potential—from both academic research and practical perspectives—of financial reporting as an enabler of innovation-relevant competitive intelligence embeddedness within firms.