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Adopting the critical sensemaking (CSM) lens to the micro-level interaction between leader and employees, the article offers a theoretically informed example of leading with soft power and positive emotions that blurs boundaries in democratic organisations.

The research methodology involves videography and interpretive analysis of video-recorded interactions that combines focused ethnography with video analysis. The analysis focuses on face-to-face meeting interactions between a leader and employees in a small service firm.

The findings illustrate how restoring the sense of the democratic organisation is an accumulating and complex phenomenon where explicit and implicit organisational rules and changing identity positions are enacted by constructing affective loyalties, moral and reflex emotions that serve as soft power capacities helping the leader and employees to enact meanings attached to a democratic rather than hierarchical organisation.

The article provides new insight for human resources practitioners and leaders who want to build resilient organisations and pay attention to shared, distributed and relational leadership practices, co-creative work and collective decision-making processes.

The power explored in previous sensemaking studies has been power over, which is most often associated with the negative aspects of power, such as domination and suppression, in the pursuit of specific performance. The applications of videography method linking ethnography and interpretive analysis of video-recorded interactions are still rare in organisation studies.

The paper contributes to the discussion on valuation in organization studies and strategic management literature. The nascent literature on valuation practices has examined established markets where producers and consumers are known and rivalry in the market is a given. Furthermore, previous research has operated with a narrow meaning of value as either a financial profit or a subjective consumer preference. Such a narrow view on value is problematic and insufficient for studying the interlacing of innovation and value creation in emerging technoscientific business domains.

The authors present an empirical study about value creation in an emerging technoscience business domain formed around personalized medicine and digital health data.

The results of this analysis show that in a technoscientific domain, valuation of innovations is multiple and malleable, entails pursuing attractiveness in collaboration and partnerships and is performative, and due to emphatic future orientation, values are indefinite and promissory.

As research implications, this study shows that valuation practices in an emerging technoscience business domain focus on defining the potential economic value in the future and attracting partners as probable future beneficiaries. Commercial value upon innovation in an embryonic business milieu is created and situated in valuation practices that constitute the prospective market, the prevalent economic discourse, and rationale. This is in contrast to an established market, where valuation practices are determined at the intersection of customer preferences and competitive arenas where suppliers, producers, service providers and new entrants to the market present value propositions.

The study findings extend discussion on valuation from established business domains to emerging technoscience business domains which are in a “pre-competition” phase where suppliers, customers, producers and their collaborative and competitive relations are not yet established.

As managerial implications, this study provides insights into health innovation stakeholders, including stakeholders in the public, private and academic sectors, about the ecosystem dynamics in a technoscientific innovation. Such insight is useful in strategic decision-making about ecosystem strategy and ecosystem business model for value proposition, value creation and value capture in an emerging innovation domain characterized by collaborative and competitive relations among stakeholders. To business managers, the findings of this study about valuation practices are useful in strategic decision-making about ecosystem strategy and ecosystem business model for value proposition, value creation and value capture in an emerging innovation domain characterized by collaborative and competitive relations among stakeholders. To policy makers, this study provides an in-depth analysis of an overall business ecosystem in an emerging technoscience business that can be propelled to increase the financial investments in the field. As a policy implication, this study provides insights into the various dimensions of valuation in technoscience business to policy makers, who make governance decisions to guide and control the development of medical innovation using digital health data.

This study's results expand previous theorizing on valuation by showing that in technoscientific innovation all types of value created – scientific, clinical, social or economic – are predominantly promissory. This study complements the nascent theorizing on value creation and valuation practices of technoscientific innovation.