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Article
Publication date: 20 April 2015

José Moleiro Martins and Manuel Teles Fernandes

The purpose of this paper is to explain to managers of small and medium enterprises (SMEs) and other professionals why they need to connect innovation and value creation…

Abstract

Purpose

The purpose of this paper is to explain to managers of small and medium enterprises (SMEs) and other professionals why they need to connect innovation and value creation in their decision-making processes when dealing with new or existing products.

Design/methodology/approach

Innovation and value creation are interconnected and you cannot have one without the other. However, to appreciate that interconnection, one needs to understand the form that value can take in products, the tangible form and the intangible. This understanding helps explain how culture and esteem affect product value, as well as how innovation happens in the technological field and in the cultural field.

Findings

Value and innovation are intrinsically connected and this should not be overlooked in any quest for new solutions. SMEs should pay more attention when developing innovation activities to ensure that they have the most suitable organizational structures and resources.

Originality/value

This paper clearly demonstrates the relationship between innovation and value creation.

Details

Journal of Business Strategy, vol. 36 no. 2
Type: Research Article
ISSN: 0275-6668

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Article
Publication date: 2 October 2007

Laurie Bonney, Rob Clark, Ray Collins and Andrew Fearne

The purpose of this article is to demonstrate the importance of a strategic approach to collaborative innovation and the use of a value chain research methodology for…

Abstract

Purpose

The purpose of this article is to demonstrate the importance of a strategic approach to collaborative innovation and the use of a value chain research methodology for identifying opportunities for co‐innovation.

Design/methodology/approach

Value chain analysis is used to map three flows in the Houston Farms value chain; material flow, information flow and relationships. Having diagnosed the current level of co‐innovation we then identify improvement projects and opportunities for co‐innovation to reduce cost and add value, for the benefit of the value chain as a whole.

Findings

The application of the value chain analysis methodology to the Houston Farms value chain revealed the importance of strategy and robust processes in key areas for co‐innovation – R&D and new product development. It also revealed that small businesses can enjoy a degree of success as a result of comparative advantage in certain areas but that sustainable competitive advantage cannot occur by chance – identifying the potential for co‐innovation is an important first step in the right direction.

Research limitations/implications

The value chain innovation roadmap represents a useful framework for exploring the current state and future capability for co‐innovation in a value chain. The value chain analysis methodology is an effective diagnostic tool as it focuses on what happens at the interface between stakeholders and how this relates to what final consumers regard as value adding, rather than traditional financial and functional KPIs which make it difficult to explore the competitiveness of the value chain as a whole.

Originality/value

The explicit and objective measurement of what consumers value is an important addition to the value chain analysis methodology and the co‐innovation roadmap is an original attempt to illustrate the core drivers and capabilities for achieving co‐innovation in a value chain. The insights from the case demonstrate the value of this approach to companies who are open to innovation and recognise the need to focus the use of scarce value‐adding resources on specific value chains and the needs and wants of final consumers therein.

Details

Supply Chain Management: An International Journal, vol. 12 no. 6
Type: Research Article
ISSN: 1359-8546

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Article
Publication date: 26 July 2021

Fei J. Ying, Nan Zhao and John Tookey

Best value procurement (BVP) has been recognized for some time as offering significant opportunities to advance process excellence in the construction sector. As an…

Abstract

Purpose

Best value procurement (BVP) has been recognized for some time as offering significant opportunities to advance process excellence in the construction sector. As an innovative approach to strategic procurement, BVP has attracted attention from the New Zealand (NZ) Government. It has similarly been found that the most substantial benefit of this modified approach to procurement is in value creation and innovative organizational processes through identifying “best value.” Yet to date, there is a lack of robust evidence as to how BVP can exactly influence construction innovation. Accordingly, this paper aims to explore how to improve BVP implementation to promote construction innovation and what are the values to be achieved in BVP mega projects from the view of innovation.

Design/methodology/approach

Semi-structured interviews with 22 participants, including project managers, procurement specialists, engineers and general managers from three organization types, were conducted to explore BVP implementation in a range of mega construction projects in NZ.

Findings

Barriers to BVP implementation and value innovation have been identified in this paper. Data analysis suggested traditional mindset in the procurement process, market constraints, mistrusts and fuzzy definition of BVP are the challenges for BVP implementation; BVP cultivates organizational competition because of diverse collaboration models and value attitudes; and BVP considers more values from the whole supply chain. To promote innovative construction, existing BVP should consider adopting progressive enhancements toward updating procurement guidance, encouraging effective communications, collaborating and promoting changes in stakeholders’ mindset.

Practical implications

Identified barriers to BVP implementation set up a platform for framing guidance, which could provide an effective approach as it enables a better understanding of what BVP means to NZ and what needs to be overcome. Taking this into account, similar small size markets around the world would be able to consider the applicability of BVP for innovative improvements.

Originality/value

This paper provides insights into value concepts in project procurement. It theoretically and practically possesses originality in linking BVP to innovative construction. The study of BVP and its application further reveals the importance of establishing a distinct regulation and fostering organizational competition from value aspects to achieve construction innovation.

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Article
Publication date: 9 March 2021

Ana Kustrak Korper, Stefan Holmlid and Lia Patrício

The purpose of this paper is to introduce the concept of meaning as a relevant but missing link in understanding the building blocks of service innovation informed by…

Abstract

Purpose

The purpose of this paper is to introduce the concept of meaning as a relevant but missing link in understanding the building blocks of service innovation informed by service-dominant (S-D) logic. In exploring the role of meaning in service innovation, especially related to new value propositions, resource integration and new value cocreation, the authors suggest using the conceptualization of meaning within human-centered design, which has an established body of knowledge on addressing how actors engage and interact.

Design/methodology/approach

The paper builds an actionable conceptual framework that relates meaning to central tenets of service innovation, such as resource integration, value propositions and cocreation of value. It delineates the central building blocks of service innovation and conceptually integrates them with meaning to explain the underlying mechanisms of service innovation related both to its development and adoption.

Findings

The findings highlight how and why meaning precedes value creation and directs resource integration. Indicating that meaning is driven by experience of earlier interactions it delineates its relationships with new value formation and positions resource interpretation as a driver of this process.

Originality/value

This paper extends the understanding of service innovation in relation to S-D logic, with meaning as a conceptual link to aspects of S-D logic that claim a phenomenological nature. Meaning contributes to S-D logic by providing an understanding of how beneficiaries form intentions to engage in value creation and resource integration. Additionally, by integrating service and design research domains, this paper suggests possibilities for multidisciplinary contributions in future research.

Details

Journal of Service Theory and Practice, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2055-6225

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Article
Publication date: 24 February 2020

Ebrahim Rasti Borazjani Faghat, Naser Khani and Akbar Alemtabriz

The purpose of this paper is to propose a paradigmatic model for shared value innovation management in the supply chain. This research seeks to identify the causal…

Abstract

Purpose

The purpose of this paper is to propose a paradigmatic model for shared value innovation management in the supply chain. This research seeks to identify the causal conditions, strategies, contextual factors, intervening factors and the consequences of shared value innovation in the supply chain.

Design/methodology/approach

The approach of this research is qualitative and has been carried out in the framework of the grounded theory. Required data for the research was collected through semi-structured interviews. Coding was done in two steps and the reliability of the results of the research was confirmed by calculating the similarity index of codes by two methods.

Findings

The proposed framework is presented in the form of a paradigmatic model and demonstrates how to achieve shared value innovation through increasing adoption with customer considerations, improving communication between supply chain members, improving collaboration among supply chain members, enhancing trust among supply chain members, enhancing the commitment of the supply chain members, enhancing supply chain members’ interdependence while maintaining their independence and simultaneously reducing costs. The results of the analysis showed that the shared value innovation leads to positive consequences such as increasing competitive abilities, human development, synergy, inclusive growth and development and also the sustainability of the business situation.

Originality/value

Although some studies have shown the importance of value innovation in different parts of the organization and to some extent the introduction of shared value innovation, no research has been done to provide a framework or model for managing shared value innovation.

Details

International Journal of Innovation Science, vol. 12 no. 1
Type: Research Article
ISSN: 1757-2223

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Article
Publication date: 24 July 2007

Marc Logman

The aim of this paper is to propose a consistent framework that allows the brand manager to detect innovation/growth opportunities and risks.

Abstract

Purpose

The aim of this paper is to propose a consistent framework that allows the brand manager to detect innovation/growth opportunities and risks.

Design/methodology/approach

The paper is based on an extensive theoretical study of innovation and growth approaches combined with analysis of cases (Dell and Red Bull) and many practical examples. The different approaches are compared at three levels: the customer value, the process and customer segment level. It also uses principles of the logical brand management model, proposed in a JPBM (2004) article as a benchmark.

Findings

The paper shows that many frameworks still focus too much on the firm's perspective instead of the customer perspective. An approach is proposed in which growth and innovation starts from the customer value. It allows to detect potential opportunities and risks at a very detailed level.

Research limitations/implications

The growth and innovation model proposed may be used in a business‐ to‐consumer and a business‐ to‐business context (as illustrated with the cases and examples).

Practical implications

Continuous adjustment of the customer value, by manipulating importance and satisfaction rates of different brand drivers leads to a continuous redefinition of contextual segments. In an effort to keep current customer segments and to attract new ones a balance must be sought continuously when adjusting the brand drivers. This kind of audit may also be perceived as a risk management approach for brand managers who want to evaluate innovation and growth options.

Originality/value

This paper “integrates” many innovation and growth approaches into “one” consistent approach.

Details

Journal of Product & Brand Management, vol. 16 no. 4
Type: Research Article
ISSN: 1061-0421

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Article
Publication date: 25 May 2012

Sang M. Lee, David L. Olson and Silvana Trimi

The aim of this paper is to present a macro view of the evolution of innovation for value creation, from the closed to collaborative, open, and now co‐innovation. It…

Abstract

Purpose

The aim of this paper is to present a macro view of the evolution of innovation for value creation, from the closed to collaborative, open, and now co‐innovation. It reviews several mega trends that have dramatically changed the dynamic nature of the global market place and also several new forces that have made innovation imperative for organizational value creation.

Design/methodology/approach

The paper provides a conceptual overview of co‐innovation through some of its basic elements such as convergence revolution, collaboration, and co‐creation with stakeholders.

Findings

Co‐innovation is a new innovation paradigm where new ideas and approaches from various internal and external sources are integrated in a platform to generate new organizational and shared values. The core of co‐innovation includes engagement, co‐creation, and compelling experience for value creation. Thus, the practices of co‐innovative organizations are difficult to imitate by competition.

Practical implications

Innovation is imperative for organizational survival in today's turbulent global market. This conceptual paper presents many real‐world examples of co‐innovative firms' strategies that can provide new insights for follower organizations.

Social implications

Innovation is a universal strategy for every organization, be it a firm, non‐profit organization, or even a government agency. The new innovation approaches suggested in the paper can contribute to social reforms such as creating shared value for all stakeholders.

Originality/value

This is an original paper that presents a broad‐stroke direction and vision for new organizational strategies for innovation.

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Article
Publication date: 4 November 2014

Cristina Mele, Maria Colurcio and Tiziana Russo-Spena

– The purpose of this paper is to offer a fresh framing of innovation, as service innovation/value innovation.

Abstract

Purpose

The purpose of this paper is to offer a fresh framing of innovation, as service innovation/value innovation.

Design/methodology/approach

By examining the visions, patterns and outcomes of three different research approaches to understanding innovation – goods-dominant (G-D) logic, the resource-based approach and service-dominant (S-D) logic – the authors strive to outline the contribution of each to the debate on innovation. This investigation involves a comprehensive literature review. Scrutiny of a case company provides a means of identifying and illustrating how these approaches play out in a real business context.

Findings

A framework for innovation builds on the comparison of the three research approaches. G-D logic, when analysed in terms of new product development and new service development, positions innovation as an output (a new good or service) of a business's internal processes, with the firm as the main actor. The resource-based approach establishes the drivers of innovation as knowledge, capabilities and relationships, but the firm is still the main innovator. S-D logic addresses “open” innovation processes in which all actors in the network can mobilize and integrate their resources to become value co-innovators.

Research limitations/implications

This study builds on the literature review by offering a more systematic way of dealing with the different research traditions in innovation debate.

Practical implications

This study spurs managers to question the validity of dominant logic and how it affects the decision-making process. The conceptualization of innovation within S-D logic provides new avenues for decision makers and practitioners to tackle topical challenges of global competition.

Originality/value

The value of this paper lies in defending the premise that S-D logic is better suited than the other two research traditions to frame current innovation within the context of global competition because it moves innovation beyond mainstream conceptualization: from “products and services” to “service and value”, from “buyer-seller dyads” to “ecosystem relationships”, and from “closed/linear process” to “open/co-created process”.

Details

Managing Service Quality, vol. 24 no. 6
Type: Research Article
ISSN: 0960-4529

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Article
Publication date: 16 January 2019

Paul Matthyssens

Starting from the foundations of value innovation, this paper aims to give an idea of the key drivers and barriers – internal and external to the company – and to provide…

Abstract

Purpose

Starting from the foundations of value innovation, this paper aims to give an idea of the key drivers and barriers – internal and external to the company – and to provide insight into proven capabilities underscoring the ability to create a flow of new value initiatives. These thoughts are then confronted with the present challenges of Industry 4.0 and the Industrial Internet of Things (IIoT). The confrontation leads to the identification of five capabilities for future-proof value innovation.

Design/methodology/approach

Literature review based upon the work of the author with more than two decades of experience within value innovation research is included. The review is supplemented with recent literature and an overview of the challenges of Industry 4.0/IIoT, which leads into a confrontation of the present status of value innovation with future requirements.

Findings

Value innovation remains important specifically for established companies facing path-breaking digital disruption of their existing business models provoked by Industry 4.0 and IIoT. Five key capabilities are suggested to rejuvenate value innovation and prepare it for the Industry 4.0 challenge: capabilities for designing, adapting and marketing product service systems; capabilities for blending digital strategy and processes with value offerings; capabilities for designing and mobilizing ecosystems and integrating these into a value-based IIoT platform; capabilities for combining and integrating technological and value innovation approaches; and capabilities for linking value creation to value capturing.

Research limitations/implications

This paper is more of a “viewpoint” than an empirically based paper presenting new research findings. It is based on expert judgment and confrontation with extant literature. The outlook indicating five key capabilities needs further empirical corroboration.

Practical implications

The overview of barriers and the “toolkit” for value innovation (Figure 1) and the five capabilities for future value innovation are expected to be managerially relevant.

Originality/value

The paper highlights the concept of value innovation, as discussed over the past decades, and links it to recent challenges and opportunities imposed by Industry 4.0 and the IIoT. The concept of value or strategic innovation is still valid but needs a re-conceptualization in view of these developments. The paper provides five capabilities business marketers should develop to perform value innovation in an Industry 4.0 environment.

Details

Journal of Business & Industrial Marketing, vol. 34 no. 6
Type: Research Article
ISSN: 0885-8624

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Article
Publication date: 23 March 2010

Cristina Mele, Tiziana Russo Spena and Maria Colurcio

The purpose of this paper is to analyse innovation in the light of service‐dominant (S‐D) logic and service science as a value‐creating process occurring through a…

Abstract

Purpose

The purpose of this paper is to analyse innovation in the light of service‐dominant (S‐D) logic and service science as a value‐creating process occurring through a many‐to‐many network resource integration.

Design/methodology/approach

The paper utilises S‐D logic and network theory to present case study research of a highly innovative Italian firm. The study investigates three innovation projects and the processes of interaction and integration that take place among the members of the networks involved in each project.

Findings

The traditional understanding of innovation, in which the supplier is the innovator and the customer is the recipient of (or perhaps the stimulus for) innovation, is replaced by an understanding of innovation based on S‐D logic in which customers and other stakeholders become real co‐innovators who exchange and integrate resources to co‐create value.

Research limitations/implications

Future studies could examine the antecedents and implications of the interaction and integration processes of collaborative innovation.

Practical implications

Innovation should be pursued as an open process in which all of the network's actors mobilise resources to become co‐innovators who co‐create value for themselves and other stakeholders.

Originality/value

This paper offers a widened perspective of innovation by using S‐D logic to emphasise the role of the network and the many‐to‐many interaction between stakeholders in developing value‐creating innovation.

Details

International Journal of Quality and Service Sciences, vol. 2 no. 1
Type: Research Article
ISSN: 1756-669X

Keywords

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