Market and technology drivers: shaping an innovation strategy

Abstract

Purpose

Market strategies and technology strategies are two sides of the same coin that drive innovation efforts. This paper argues that combining them as a balanced force is crucial for innovation performance.

Design/methodology/approach

Using an inductive case study with in-depth interviews, the authors analyze a highly successful innovation process in a high-performing German firm. This case is taken from a wider study of innovative German firms completed in 2012.

Findings

When top management leadership challenges organizational members to consider market and technological drivers equally, they may outperform rivals who follow only one or the other strategy through isolated silos. During the innovation process this pragmatic approach becomes apparent when the organization focuses on both technically-specific ideas and unexpected actions to surprise the competition.

Originality/value

This paper provides a practical dual perspective on the innovation phenomenon to help leaders to be better prepared for shaping their organization's innovation strategy. The case example provides insights into the means by which mid-sized firms can neutralize the dominant positions of larger competitors.

Citation

Lattuch, F., J. Pech, R., Riemenschneider, F. and Weigert, M. (2013), "Market and technology drivers: shaping an innovation strategy", Journal of Business Strategy, Vol. 34 No. 5, pp. 4-11. https://doi.org/10.1108/JBS-05-2013-0034