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Article
Publication date: 21 October 2013

Avimanyu Datta, Richard Reed and Len Jessup

The commercialization of innovation, which is key to entrepreneurial success, is a combination of several entrepreneurial activities. Building on research from fields of…

Abstract

Purpose

The commercialization of innovation, which is key to entrepreneurial success, is a combination of several entrepreneurial activities. Building on research from fields of management, strategy, entrepreneurship, economics, and marketing, the paper summarized the extant literature to develop a framework of commercialization and an agenda for future research. The paper aims to discuss these issues.

Design/methodology/approach

Extensive review of literature, which was comprised of 194 articles across 62 journals in the fields of management, strategy, entrepreneurship, economics, and marketing.

Findings

The literature was categorized into six broad themes of entrepreneurial activities: sources of innovations, types of innovation, market entry (capabilities and feasibility), protection, development, and deployment. Most of the research papers that were reviewed were concentrated on single theme.

Practical implications

Given the identification of six key themes of entrepreneurial activity leading to the commercialization of innovations, research questions were posed as a means to move the research forward by integrating the themes.

Originality/value

This is the first paper in its kind to integrate 194 papers from 62 journals to provide a comprehensive framework of commercialization of innovations.

Details

American Journal of Business, vol. 28 no. 2
Type: Research Article
ISSN: 1935-5181

Keywords

Content available
Article
Publication date: 4 October 2019

Kehinde Medase and Laura Barasa

The purpose of this paper is to investigate how specialised capabilities including absorptive capacity and marketing capabilities influence innovation commercialisation in…

Abstract

Purpose

The purpose of this paper is to investigate how specialised capabilities including absorptive capacity and marketing capabilities influence innovation commercialisation in manufacturing and service firms in Nigeria. The authors hypothesise that absorptive capacity measures including openness and formal training for innovation, and marketing capabilities encompassing new product marketing and marketing innovation are positively associated with innovation performance.

Design/methodology/approach

The authors examine commercialisation of innovation within the profiting from innovation (PFI) and dynamic capabilities (DC) framework and use data from the 2012 Nigeria Innovation Survey to test the hypothesis by means of a Heckman sample selection model.

Findings

The authors find that absorptive capacity measures comprising openness and formal training are positively associated with innovation performance. The authors also find that marketing capabilities as indicated by new product marketing and marketing innovation are positively associated with innovation performance.

Research limitations/implications

The authors acknowledge that firms undergo continuous changes and that there may be the presence of unobserved or unmeasured heterogeneity. Taking into cognisance that Nigeria is a federal state, cultural diversity and economic factors are likely to differ widely between geographical regions. Also, while the proposed conceptual framework offers a deeper understanding of innovation performance, examining how integrating activities of the R&D department, human resource department and marketing department affect innovation commercialisation is likely to provide more meaningful insights.

Practical implications

The role that inter-organisational learning and intra-organisational learning play in driving innovation performance provide managers with a basis for incorporating absorptive capacity building programs that boost employees’ ability to recognise and apply valuable external knowledge to commercial ends. Similarly, firms may benefit from offering marketing capabilities development programs. Furthermore, innovation policies in Nigeria are generally designed to focus on fostering innovation activities aimed at developing innovative output. Accordingly, government support explicitly targeting new product marketing and marketing innovation is likely to play a vital role in the successful commercialisation of innovation in Nigeria.

Originality/value

This study fuses the PFI and DC framework to examine why innovating firms may not necessarily succeed. This area of study has received scant attention in sub-Saharan Africa given that extant literature focusses on value creation as opposed to value capture.

Details

European Journal of Innovation Management, vol. 22 no. 5
Type: Research Article
ISSN: 1460-1060

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Article
Publication date: 4 September 2017

Arbaiah Abdul Razak and Peter A. Murray

The purpose of this study was to explore the strategies performed by innovation actors to ensure commercialisation success, and to determine which of these strategies…

Abstract

Purpose

The purpose of this study was to explore the strategies performed by innovation actors to ensure commercialisation success, and to determine which of these strategies significantly predict a successful commercialisation within a public university context.

Design/methodology/approach

The strategies conceptualised for this study included open innovation, strategic leadership and collaborative advantage. A total of 222 public university academics participated in an anonymous survey and were asked to provide responses on their innovation strategies. These responses were then explored to assess the construct validity of the survey instrument and further analysed using a hierarchical multiple regression technique to test the hypotheses and to compare several regression models.

Findings

The results suggested that strategic leadership and open innovation strategies are significant predictors for successful commercialisation with coefficient of multiple determination (R2) of 21 per cent. This study, however, found that collaborative advantage does not significantly determine commercialisation success.

Research limitations/implications

The study was limited by the empirical evidence that was based on cross-sectional survey data of public university academics. A qualitative study with other groups of participants such as from the industries would further confirm the relationship between innovation strategies and commercialisation success. Future research should replicate this study in other settings to improve the generalisation of the findings.

Originality/value

This study discovered strategic leadership as the most dominant predictor for commercialisation success in a public university context followed by open innovation strategy. It confirms the strategic roles of leaders in innovation attempts and provides further understanding about the openness strategy in innovation.

Details

International Journal of Innovation Science, vol. 9 no. 3
Type: Research Article
ISSN: 1757-2223

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Article
Publication date: 7 August 2017

Jeen-Su Lim, William K. Darley and David Marion

The study aims to explore supply chain influence (SCI) on the linkages among market orientation, innovation capabilities and firm performance (FP), using the…

Abstract

Purpose

The study aims to explore supply chain influence (SCI) on the linkages among market orientation, innovation capabilities and firm performance (FP), using the resource-based view as a theoretical backdrop.

Design

Survey data from 182 top managers who are involved in strategy formulation and innovative direction of their companies was collected and analyzed using moderated multiple regression analysis.

Findings

Results revealed a moderating role of the SCI in that the proactive market orientation (PMO) and FP relationship is stronger when SCI is high, and innovation commercialization capability (ICC) and FP relationship is stronger when SCI is low.

Practical implications

Firms pursuing high PMO strategy must collaborate with supply chain function to achieve the full effect of PMO. Additionally, as supply chain is critical to meeting customers’ needs, these firms should allow supply chain to exert greater influence to enjoy the positive effects of PMO in addition to ensuring full integration into marketing strategy implementation. Also, firms with high ICC need to limit SCI to maximize the benefit of ICC on FP, just as innovation management needs to be cognizant of other functional areas.

Originality/value

The study investigates the potential moderating role of SCI on the relationships among market orientation, ICC and FP. The study fills a gap in the understanding of the nature and role of supply chain in the marketing–supply chain interaction, and the impact on FP.

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Article
Publication date: 4 September 2019

Stephen Oduro

Much of the scholarly works on open innovation have significantly highlighted the application of the model in high-tech industries in the developed world. However, how the…

Abstract

Purpose

Much of the scholarly works on open innovation have significantly highlighted the application of the model in high-tech industries in the developed world. However, how the phenomenon applies in low-tech small and medium-sized enterprises (SMEs) in developing countries is still marginal and lacks substantive research. This study aims to draw on the network theory of innovation to examine the open innovation orientations of low-tech SMEs in an emerging market context, particularly Ghana.

Design/methodology/approach

The research design used was a qualitative–quantitative approach: the qualitative phase of the study, involving 31 low-tech SMEs, used a multiple case approach through semi-structured interviews and analyzed the interview responses using NVivo statistical tool; the quantitative phase, including 706 low-tech SMEs, also used a survey questionnaire approach and descriptively analyzed data collected using SPSS statistical tool.

Findings

Results disclose that the low-tech SMEs’ employment of the open innovation model are preponderantly driven by commercialization purposes, knowledge acquisition motives, financial motives and strategic motives, whereas their open innovation approaches include inbound strategies (collaboration with suppliers, co-creation/customer immersion), outbound strategies (IP licensing out) and coupled strategies (strategic alliances, contract manufacturing, and joint ventures). Moreover, the findings show that the SMEs’ preferred open innovation partners include suppliers, customers, private universities and non-industry, in that order. Finally, results show that the low-tech SMEs’ open innovation advantages include market gains, strategic gains, knowledge gains, operational gains, financial gains and network gains, whereas their open innovation challenges colossally were collaboration barriers and organizational barriers.

Practical implications

These findings purvey valuable perceptiveness for managers, academicians and policymakers alike; they highlight the importance of open innovation to low-tech SMEs, proven strategies, challenges involved and the mechanisms for effective and efficient adoption of the open innovation model.

Originality/value

The value of this study reclines in the extension of open innovation research from high-tech industries in the advanced world to low-tech SMEs in emerging economies. Results of the study enrich the knowledge and understanding of how the theoretical model of open innovation is adopted and implemented by the low-tech SME sector in emerging economies.

Details

Journal of Science and Technology Policy Management, vol. 10 no. 3
Type: Research Article
ISSN: 2053-4620

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Article
Publication date: 9 December 2019

Manuel Hensmans

An essential corporate decision-making tool, the Boston Consulting Group's growth-share matrix, is due for an upgrade. The purpose of this paper is to upgrade this growth…

Abstract

Purpose

An essential corporate decision-making tool, the Boston Consulting Group's growth-share matrix, is due for an upgrade. The purpose of this paper is to upgrade this growth matrix for use by corporate managers in the current platform age. Designed in the conglomerate age of the 1960s and 1970s to help corporate managers make disciplined and systematic portfolio investment decisions, the matrix is ill-adapted to the platform age in which we now live. The most valuable companies in the world are now platform companies, and many companies are transitioning to a more platform-based corporate portfolio. In this paper, the author explains how corporate managers can build and execute a sustainable platform portfolio.

Design/methodology/approach

The author started with a thorough study of the contextual assumptions and theoretical background of the original Boston Consulting Group growth-share matrix (which the author has been teaching for the past decade). He contrasted these with the assumptions and theoretical background developed in the platform strategy literature. To test and refine the framework, the author presented and discussed its applicability at companies such as GSK and with local consultants. He then used five consecutive cohorts of master students [280 students (70 groups)] to test this framework on a total of 20 companies (both “born platform” and “product to platform” companies).

Findings

The platform ecosystem age requires a corporate decision-making matrix that discriminates between businesses on the basis of platform market growth and platform commercialization capability, rather than product market growth and market share. As in the original matrix, these businesses correspond to three different investment horizons (Figure 1): the continuous renewal of blockbuster business, the integration of emerging killer businesses and the experimentation with joint innovation businesses. This paper helps corporate managers build and execute a sustainable platform portfolio by means of a sequence of six decision-making steps and a clear organizational template for successful execution.

Originality/value

The portfolio matrix, decision-making sequence and organizational execution advice presented in this paper are fit for both “born platform” companies such as Google (Alphabet) and “product to platform” hybrids such as Lego. The paper illustrates this with practical examples for both types of companies.

Details

Journal of Business Strategy, vol. 42 no. 3
Type: Research Article
ISSN: 0275-6668

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Article
Publication date: 23 March 2021

Shabahat Ali, Weiwei Wu and Sadaqat Ali

This study aims to offer and validate an integrated marketing capability-product innovations framework. Particularly, it aims to examine the role of adaptive marketing…

Abstract

Purpose

This study aims to offer and validate an integrated marketing capability-product innovations framework. Particularly, it aims to examine the role of adaptive marketing capability in enabling market ambidexterity and incremental as well as radical product innovation. Also it intends to investigate the moderating role of transformational leadership between adaptive marketing capability and market ambidexterity.

Design/methodology/approach

Manufacturing firms in Pakistan, an emerging economy, are taken as the context for this study. A designed survey questionnaire is used for data collection. Partial least square technique is employed to empirically validate and test the hypothesized model with a sample of 192 manufacturing firms. Particularly, the two-stage approach in SmartPLS is used to validate measurement models, and structural equation modeling technique is used to test the proposed hypothesis.

Findings

The findings not only confirm that adaptive marketing capability is instrumental to both incremental and radical product innovations but also reveal that adaptive marketing capability serves an important antecedent to market ambidexterity shedding new lights on its mediating role in the relationship of adaptive marketing capability with incremental and radical product innovations. Moreover, the results find that the effectiveness of adaptive marketing capability to support market ambidexterity may involve a possible trade-off between exploitation and exploration when the leaders exhibit a low or high level of transformational leadership behavior.

Originality/value

This study contributes to outside-in strategic perspective and contextual ambidexterity literature by revealing the role of adaptive marketing capability as an important enabler of market ambidexterity which, in turn, allows the firm to simultaneously introduce incremental and radical product innovations. In this way, this study advances the current understanding of the antecedents and consequences of contextual ambidexterity. Also, this study provides insight into the types of capabilities needed for the firm's contextual and employees' behavioral adaptation to simultaneously manage exploitation and exploration within the same business unit which was lacking in the previous literature. Further, this study also offers a novel understanding of the conditional role of transformational leadership between adaptive marketing capability and market ambidexterity.

Details

European Journal of Innovation Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1460-1060

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Article
Publication date: 15 September 2020

Marc Dressler and Ivan Paunovic

Industry 4.0, the integrated digital process world in production, is an under researched area. Especially for the wine industry, 4.0 theoretical base up to date is weak…

Abstract

Purpose

Industry 4.0, the integrated digital process world in production, is an under researched area. Especially for the wine industry, 4.0 theoretical base up to date is weak, impeding further digital transformation of the wine industry. Some basic-level digital capabilities exist in most of the researched business models, which is why further digital transformation requires strategic redefining of business models in order to further transform the whole industry.

Design/methodology/approach

A qualitative research approach based on the concept of business model innovation (BMI) has been deployed in order to identify business models and consensus building between industry´s stakeholders. Semistructured interviews delivered primary data.

Findings

The diversity of existing business models in the wine industry as well regarding BMI is confirmed, where each one occupies a specific place in the innovation ecosystem for Industry 4.0.

Research limitations/implications

This qualitative research is exploratory and directed toward theory building. The findings confirm the importance of environmental scanning and market sensing for convergent technologies as well as the need to develop core value proposition.

Practical implications

This study has important implications for companies and their capabilities inside wine industry 4.0, while its main practical value being a systematical organization of weak signals to support small entrepreneurs’ transition to digitalization and Industry 4.0

Originality/value

The paper nourishes the theory on innovation trajectories for Industry 4.0 by including previously unidentified BMIs and a convergence–divergence continuum on the example of wine Industry 4.0.

Details

European Journal of Innovation Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1460-1060

Keywords

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Article
Publication date: 27 July 2021

Yasmine Boughzala and Berangere Lauren Szostak

This paper aims to understand how international interorganizational relationships (IORs) impact the organizational creativity of a local partner in an emerging country…

Abstract

Purpose

This paper aims to understand how international interorganizational relationships (IORs) impact the organizational creativity of a local partner in an emerging country, and how the creative capacities of emerging countries firms are developing.

Design/methodology/approach

The study is exploratory and qualitative, based on five IORs between European multinational corporations (MNCs) and Tunisian firms operating in the consumer goods sector analyzed using the Gioia method.

Findings

The results show that it seems necessary for firms in emerging countries first to be legitimate, then to have dynamic capacities (learning capacities in particular), and that they know how to develop an innovation strategy and implement it concretely. The authors highlight three different organizational mechanisms. The first concerns analyzing the legitimacy of the local partner to engage in an innovation process based on its distinctive capacities and formalization of procedures. The second involves building dynamic capabilities, especially technological and managerial skills, in order to meet the challenges of the growing collaboration between the partners and to expand their mandate. The third deals with implementing an innovation strategy on two fronts: trust between partners and sustainable innovation.

Research limitations/implications

The contributions focus on the international dimension of the IORs' impact on creativity and the role of the local partner's creative capacities. The work highlights to what extent “techno-centric” creativity plays a role in the absorption capacity of local partners, as well as the level of assistance provided by MNCs for developing innovation in emerging countries' firms. Moreover, our results show that increasing awareness of ecological and responsible consumption is reorienting production patterns on both local and global scales and offers many benefits for local and multinational firms. The limitations concern the sample size, the narrow diversity of the sector and the lack of information regarding multinational firms.

Originality/value

The originality of this paper is to show the construction of the creative process at the level of the local partner, from the execution of a specification to the implementation of a sustainable innovation strategy.

Details

European Journal of Innovation Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1460-1060

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Article
Publication date: 31 January 2020

Nilay Bıçakcıoğlu-Peynirci and İlayda İpek

In spite of the considerable research interests particularly devoted to meta-analyze the empirical findings on market orientation in the domestic context, much little…

Abstract

Purpose

In spite of the considerable research interests particularly devoted to meta-analyze the empirical findings on market orientation in the domestic context, much little attention has been assigned to the role of market orientation in the field of exporting. Owing to the fast progress in the momentum of the empirical articles pertaining to export market orientation, this study aims to quantitatively synthesize all empirical studies on the export market orientation’s linkage with performance-related consequences, firm capabilities and strategy-related consequences. Besides, this meta-analysis endeavors to examine the impact of potential contextual and measurement moderators on export market orientation and its consequences by following a meta-analysis perspective.

Design/methodology/approach

The quantitative evidence was drawn from a meta-analysis of 89 total effects (N = 8,652).

Findings

The meta-analysis results reveal that export market orientation has a major impact on both innovation performance and firm capabilities. Moreover, the meta-analytic evidence also indicates that the strength of the association between export market orientation and capability building/strategy-related consequences is greater for firms operating in high collectivist cultures, whereas the magnitude of the correlation between export market orientation and performance-related consequences is stronger for least developed countries.

Originality/value

On the basis of the findings, this study considerably contributes to the related body of research by aggregating fragmented empirical evidence in the extant literature and providing beneficial insights for both researchers and practitioners.

Details

Journal of Business & Industrial Marketing, vol. 35 no. 5
Type: Research Article
ISSN: 0885-8624

Keywords

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