Innovation strategies in the presence of technology markets

SSRN Electronic Journal, 2000

Innovation can be an important source of competitive advantage, particularly for young or small, resource constrained businesses where technology can enhance existing capabilities and enable new ones. In this study we theorize and examine endogenous and exogenous technological drivers of innovation activity with a sample of 753 in small and medium enterprises (SMEs). Our results suggest that technology that is unique, advanced, and/or used in new ways may be important drivers of innovation activity in small businesses. Further, we find that such technologically driven innovation activity is positively associated with competitive advantage. However, contrary to expectations, we also find that the level of technological dynamism in the industry does not appear to affect innovation activity or performance. These results suggest that technology appears to contribute to a firm's ability to innovate and its subsequent performance. Hence, an implication for practice would be for firms to invest in such technology-based capabilities to increase their innovation activities and improve relative firm performance. A further, contribution of this study is to identify technology factors associated with innovation activity in the SME context, which contributes to the entrepreneurship and innovation literatures.

Journal of Management, 2003

Technological innovation often results when the resources of a small firm are combined with those of a large one. This is because small and large firms characteristically possess complementary resources whose combination can facilitate innovation success. The possession of complementary innovation-producing resources by small and large firms helps explain patterns of interaction among firms in dynamic, technology-based industries. Propositions are developed that outline how typical resources of small and large firms can be used to explain industry-level phenomena surrounding technological change. Published by Elsevier Science Inc.

Results of an …, 2007

R&D is not the only method of innovating. Other methods include technology adoption, incremental changes, imitation, and combining existing knowledge in new ways. With the possible exception of technology adoption, all of these methods require creative effort on the part of the firm's employees and consequently will develop the firm's in-house innovative capabilities. These capabilities are likely to lead to productivity improvements, improved competitiveness, and to new or improved products and processes that could be adopted by other firms. For these reasons, the activities of firms that innovate without performing R&D are of interest to policy.

The International Journal of Entrepreneurship and Innovation, 2011

How are innovations taken to market? Both theoretically and empirically, the process of commercialization has received scant attention. This study investigates the early commercialization process of three innovative firms in the Norwegian petroleum industry. The authors argue that the role of strategic choice is important for the processes these firms use to create and build their own dynamic capabilities. In this regard, they address the central question of what role the strategic choice of the firm plays in the process, creation and evolution of its dynamic capabilities during the early stage of commercialization. The authors' findings reveal that certain dynamic capabilities are emphasized and appear to be more relevant to the strategic intentions of the CEO or entrepreneurial team. Two firms, whose strategic intent was to commercialize and exit, were more inclined to build an adaptive capability, while the firm intending to commercialize and to stay in the market stressed the importance of absorptive capability. Common to all three cases is the finding that adaptive and absorptive capabilities seem to enhance their innovative capabilities, which are essential for commercializing innovations.

Journal of Global Strategic Management, 2014

In today's highly competitive and dynamic markets firms having an intention to meet the changing needs of customers as soon as possible and nourishing innovative ideas by making use of appropriate technology may sustain and/or improve their competitiveness. The purpose of this study is to investigate the relationship between competition, technology, and innovativeness of Turkish companies. A model that investigates the influence of technology and competition on innovativeness is developed. Hypotheses are developed and tested by conducting several statistical tests and techniques such as frequency analysis and logistic regression analysis. The results indicate that both competition and technology have a positive effect on the innovativeness of a company.

British Journal of Management, 1997

The same author suggested that innovative producers should seek innovative customers in order to market their innovations. From a marketing management point of view, the latter is of extreme importance because mainstream marketing theory suggests that a firm

Journal of Engineering and Technology Management, 2011

An increasing number of studies in technology/innovation management contribute to the understanding of the relationship between external technology acquisition and product innovation performance. On the other hand, the meta-analytic reviews of new product development literature indicate a positive impact of product innovativeness on product innovation performance. However, existing research has not examined the link between external technology acquisition and product innovativeness. This study, therefore, aims to fill this gap of knowledge by investigating the external technology acquisition-product innovativeness relationship and examining the moderating roles of R&D investment and configurational context on this link. Based on a panel sample of 105 high-technology firms over a six-year period, a least squared dummy variable s model reveals interesting results. First, external technology acquisition has a positive impact on product innovativeness. Second, R&D investment increases the effect of external technology acquisition on product innovativeness. Lastly, firm size exhibits a negative effect on the contribution of external technology acquisition to product innovativeness. However, firm age positively impacts the relationship between external technology acquisition and product innovativeness. In addition, this study reveals a positive effect of product innovativeness on firm growth. ß

Современная Экономика Проблемы Тенденции Перспективы, 2013

Companies today operate in a very dynamic, uncertain and competitive environment. They compete in "nicety" that are so small but so important. Companies are trying to achieve competitive advantage in order to help them obtain a better and a stable position in the marketplace. The best way for companies to achieve a competitive advantage is through innovation. This paper addresses the meaning of innovation what does innovation present, types of innovation specifically discussing the right way of usage. In order for companies to get the as more innovations as possible it is necessary for them to be familiar with the process of innovation and its principles which innovation was found on. There are several types of innovation or ways in which companies can achieve innovation in a level of whole organization. This paper discusses the ways how that can be achieved-starting from their products and services, ways of selling, supply ect. Innovation can be financed by merit-based awards (grants) and external equity, such as: business angels, venture capital and corporations.

International Journal of Technology Management, 2015

Innovation is key to company growth, but hinges on timely access to new knowledge. Individual companies have difficulty pursuing innovation and acquiring the knowledge they need on their own. Companies therefore resort to various governance modes (licensing-in, collaborations, mergers and acquisitions, etc.) that suit the preferred innovation trajectories. We expect governance modes directed at knowledge exploration to generate long-term, radical innovations, and governance modes aimed at knowledge exploitation to generate short-term, incremental innovations. Employing data from two Dutch E.F.M. Wubben et al. community innovation surveys, we indeed discovered that companies that license in technology tend to produce more incremental innovations. We also found a strong positive correlation between inter-organisational collaboration and both long-term and short-term innovation. Finally, we concluded that M&As have a major impact on the production of long-term radical innovations.

2020

Abstract: This study addresses the effects of external environments on types of innovation introduced by Portuguese consultancy firms (PCs) in computer, technical, and management areas. It distinguishes the most determinant factors for innovation regarding product, process, organization, and marketing. The assessment framework followed three steps: 1) evaluation of propensity to use external sources of information and cooperation with agents, 2) identification of factors used most often during innovation, and 3) derivation of profiles of firms under study. The method generated tree-based classification models that segmented the sample into innovative and non-innovative firms, and distinct profiles that emphasized specificities concerning use of external sources and agents for innovation.

Technovation, 2006

The literature on innovation has been both rich and varied in approach and has provided much insight into the process of, and difficulties contained within, innovation. A number of important concepts including those of path dependency, technological trajectories, together with the plethora of articles concerned with organizational learning, involving the contribution and limitations of tacit knowledge, have helped us to understand the nature of innovation. As important as these strands of literature are, we suggest that a key weakness in much of the literature on innovation is that it does not deal sufficiently with the contextual issues concerning the changing paradigms of manufacturing and the profound impact that these developments have had upon the innovation process. We offer the concept of strategic resonance as a missing ingredient within some firms who are now faced with conditions of hyper competition where ongoing innovation is a key requirement. The concept of strategic resonance is not offered as a prescriptive panacea but it is suggested that firms need to understand and remove the blockages to strategic resonance as part of their innovation development processes. q

2007

It seems likely, that using one's competitors as external knowledge sources will lead to different organizational outcomes as compared to other types of external knowledge sources.

Muma Business Review, 2023

The novelty created by these two activities is a benefit that somehow affects profitability (Beckenbach & Daskalakis, 2013; Kaiserfeld, 2020). The point of difference between these two concepts is their operational capability. Although creativity and innovation both originate from the creation of new knowledge, innovation is the product of new knowledge that can be operationalized to change, improve, and optimize existing systems (Durst & Edvardsson, 2013; Kim & Pierce, 2013; Kabir, 2019; Nakao & de Andrade Guerra, 2021). This change, improvement, and optimization does not always mean extensive changes in technology; even a small change to improve service delivery is considered an innovation. Based on our literature analysis, companies must view innovation

2005

How can market leaders avoid the innovator's dilemma and continually develop disruptive innovations to retain their leadership position? We argue that the capability to successfully develop and commercialize one type of disruptive innovation—technological innovation—is based on the interaction between a firm's strategic orientation (Prospector, Analyzer, Defender) and (1) its selection of target market; and (2) the way it implements its market orientation.

The International …, 2011

How are innovations taken to market? Both theoretically and empirically, the process of commercialization has received scant attention. This study investigates the early commercialization process of three innovative firms in the Norwegian petroleum industry. The authors argue that the role of strategic choice is important for the processes these firms use to create and build their own dynamic capabilities. In this regard, they address the central question of what role the strategic choice of the firm plays in the process, creation and evolution of its dynamic capabilities during the early stage of commercialization. The authors' findings reveal that certain dynamic capabilities are emphasized and appear to be more relevant to the strategic intentions of the CEO or entrepreneurial team. Two firms, whose strategic intent was to commercialize and exit, were more inclined to build an adaptive capability, while the firm intending to commercialize and to stay in the market stressed the importance of absorptive capability. Common to all three cases is the finding that adaptive and absorptive capabilities seem to enhance their innovative capabilities, which are essential for commercializing innovations.