E-Book Pages Archive - Navigating Innovation

Appendix: Methodology

Benoît Gailly — Wed, 20 May 2020 12:11:41 +0000

You will find here a detailed description of the Navigating Innovation project objectives and methodology, based on the paper presented at the 2020 ISPIM conference (June 7-10)

Abstract

We contribute to bridging the chasm between innovation management science and innovation management practices by developing a structured, illustrated and commented on online directory of key innovation management papers, targeted at innovation management practitioners, students and young researchers. A selection of more than 3200 relevant papers from 200 high-quality journals, from innovation management, entrepreneurship, strategy, general management, economics, social sciences and other disciplines has been developed and validated, and is available online. It is structured along five core organisational innovation management capabilities, 23 innovation management themes, 80 key managerial insights (which are outlined and illustrated) and 450 keywords. Those scientific references are completed with additional references to a selection of 150 videos and 280 books.

The chasm between innovation management practice and literature

Since the seminal works of Argyris ans Schön, Arrow, Daft, Mowery and Rosenberg, Nelson & Winter, Ulrich, Utterback and Aberbathy, Van de Ven, and many others, the last decades have seen extensive research around the field of innovation management, with more than 4 million entries now available through search engines like Google Scholar. However, it remains a challenge for innovation managers (and innovation management students) to find their way in the resulting maze of journals, publications, theoretical fields and nomenclature.

There is therefore still a significant gap or “chasm” between on the one hand “rigor”, -management science- and on the other hand “relevance” – management practices (Gopinath & Hoffman, 1995; Starkey & Madan, 2001; Starkey et al, 2009, Frank & Landström, 2016).

This is even more important in the context of an increasingly complex environment, where making the differences between a trend and a fad, between a best practice and a buzzword, or between what is generic and what is context-specific is more critical than ever.

Why there is a chasm

The scientific literature remains a reference in the field of innovation management, but navigating through that “knowledge system” (Kieser & Leiner, 2009) remains a challenge for many non-scholars, both in terms of sources (relevant journals) and search terms (keywords).

On the one hand, relevant references can come from a wide range of innovation-related (R&D, product development, creativity …) and general management-related (strategy, entrepreneurship, organization…) journals (Raasch et al., 2013), as well as from various neighbouring disciplines (sociology, marketing, engineering, psychology, operations management… see Agarwal & Hoetker, 2007). Moreover, predatory (fake) or low quality journals often use titles that are similar to famous ones, and articles that have been retracted due to fraudulent data or methodologies are still widely accessible online. Finally, older but still relevant references might be discarded by traditional search algorithms.

On the other hand, picking the right concept or keyword to search for can also be a challenge. Innovation management issues can be addressed in the literature using specialized terms (such as “ambidexterity”, “dynamic capabilities”, “dominant design”, “effectuation”, “living labs”, or “value curves”), or using different terms that might appear similar to the non-expert (such as “open innovation”, “networking”, “partnerships”, “collaborations”, “clusters”, “alliances”, “cooperation”, …). They can also be addressed using terms which are not consistently defined (such as “start-ups”, “technologies”, “family business”, “culture”, “business models”, “globalization”, or “ecosystems”) or using terms that have context-specific meaning (such as “frugal”, “chasm”, “disruptive”, or “lean”). Finally, some popular terms, tools and canvas (such as “Blue Ocean”, “lean start-ups, “hackathons” …) are not always given high visibility in the scientific literature.

In other words, we often do not know neither which needle to look for (which concepts or keywords), nor in which haystack (which sources or journals).

There is therefore a need for scholars to “provide, maintain, and update online, user-friendly, plain language summaries of the practice principles that the best available evidence supports, while sharing information regarding their effective use as well as their limitations” (Rousseau, 2007).

Building upon available resources

Multiple excellent books are aimed at addressing this problem, most famously the various editions of the reference books by Tidd, Bessant and colleagues. However, those books are difficult and costly to maintain up-to-date, and are sometimes not adapted to the needs of “digital natives”. Moreover, those books are competing for visibility with a large number of well-marketed “follow-my-recipe-to-success” books, which are often long on promises but short on rigor.

Many scientific journals as well as reviews from famous business schools (HBR, etc…) are also available online, but often only on a restricted basis. Furthermore, as discussed above, they are sometimes difficult to navigate for those not familiar with their various editorial policies, epistemological perspectives and nomenclatures.

Finally, various websites and online communities of practices are also available (such as for example www.boardofinnovation.com), but as far as we know none of them is both transversal and focused on high-quality scientific publications.

Building upon previous scholarly initiatives (for example, www.innovation-portal.info), the goal of this project is therefore to develop and maintain an open, easy-to-navigate and up-to-date online access to a structured selection of key high-quality scientific articles regarding innovation management and its main challenges.

We hope therefore to contribute to fill the chasm between “rigor” – innovation management research and “relevance” – innovation management challenges.

Developing an online directory of relevant high-quality papers

We will present below the approach used to build, structure and validate our online directory, building upon the methodology developed by Shane and Ulrich (2004).

Initial sample and structure

Our inventory of “key references” started with a systematic literature review completed as part of a PhD thesis (De Kort et al., 2017), updating the work of Crossan and Apaydin (2010). This led to a first list of 193 highly-cited articles on “organizational innovation” and “innovation”, from a selection of leading management journals.

We then reviewed the titles and abstracts of the papers referenced by those 193 articles, in order to find new references, which were (i) linked to innovation management capabilities, (ii) highly cited and/or from highly ranked journals and (iii) including clear managerial implications (excluding purely theoretical or methodological papers).

The resulting list was then synthesized using a pragmatic and practice-oriented structure, derived from those provided by academic experts and consultants (Boly et al., 2014; Lawson & Samson, 2000; O’Connor, 2008; Romijn & Albaladejo, 2002; Rothaermel, & Hess, 2007; Smith et al., 2008).

This structure follows an “issue-tree” problem-solving approach. It starts with five core capabilities that organizations need to master in order to efficiently manage innovation. Its core is the entrepreneurial process involving the capabilities of “identify-select-implement” (Shane & Venkataraman, 2000). Around this core process, organizations must also have the capabilities to develop and leverage on the one hand an entrepreneurial ecosystem, and on the other hand a coherent strategic vision.

Each of those five core capabilities is then detailed at different levels of analysis. For example, the entrepreneurial ecosystem capability is considered from the point of view of (i) the individual corporate entrepreneurs/innovators, (ii) the start-up or innovation project teams, (iii) the culture and structure of the parent organization, (iv) innovation networks and (v) the socio-economic ecosystems.

For each of those levels of analysis, we then identified 3 to 5 synthesis “key insights”, supported by a relevant and original illustration (a cartoon or a figure) and a selection of keywords.

Finally, we completed this “top-down” approach by a “keyword”-based search in leading management journals for each of the key insights. This “bottom-up” search is continuously updated by our faculty and by teams of management students attending our specialized track in innovation management.

Validation and adjustments

The resulting list of references was cross-validated in four ways.

First, we compared our list with the references and keywords provided in the latest edition of the reference book “Managing innovation” by Tidd and Bessant, and with the references mentioned in the teaching material delivered by several leading scholars (see tim.aom.org/teaching-resources), in order to spot missing key keywords and references.

Second, we compared our list of keywords with two list of keywords that were automatically generated using natural language processing software applied on databases of scientific papers, by the innovation consultant Creax. Using two databases of respectively 54316 and 15517 papers, they identified 70 different innovation “types” (for example “employee-driven”, “reverse”, or “organizational”) and 40 different innovation “challenges” (for example “measuring innovation performance” or “licensing”). Again, we cross-checked those two lists with our own list of insights and keywords.

This validation process was pursued until we reached the equivalent of theoretical saturation (Eisenhardt, 1989, p.545), that is until no new sources, insights or keywords emerged.

Third, we reconciled the structure of our list (themes, sub-themes, etc) with the structure proposed by the International Organization of Standardization regarding innovation, in particular the ISO 56000 and ISO 56002 norms. We controlled that all the issues highlighted by those norms are covered in our structure, and we built a “conversion table” matching each of those issues to specific themes or subthemes in our list.

Fourth, we eliminated all potential remaining “low quality” references, based on journal ranking and citations. We only kept the references from journals ranked 4*, 4, 3 or 2 by the Association of Business Schools, or with a SJR Scopus h-index above 40. The resulting breakdown of journals and references is presented below (Table 1).

Table 1 Main journals and references per domain

Domain	References	Journals	Most frequently listed journals
General Management	1067	43	SMJ, HBR, OS, AMJ, MS, AMR, ASQ
Innovation & Entrepreneurship	917	30	RP, JBV, JPIM, Technovation, R&D M
Marketing, Finance, HR, Operations	148	61	IMkM, JoMk, VC, JCP, IJPM, RFS, MkS
Economics	123	33	NBER, AER, JEP, RES, JPE, QJE, RAND
Other social sciences	114	30	ICC, RS, App. Psy., AJSoc., J App. Soc.
Other	23	8	Science, Nature, PNAS
Total	2392	205	RP, SMJ, JBV, OS, HBR, JPIM, AMJ, MS

Results and discussion

The resulting structure includes five chapters (one for each core innovation capability), with a total of 23 sections (innovation management themes related to various levels of analysis for each capability), subdivided alongside 80 illustrated “key insights” and 450 keywords.

The resulting inventory includes (as of January 2026) 3200+ scientific articles, as well as a selection of 150 videos and 280 books. They are also supported by an eponymous reference book (see Bessant, 2019 for a review) and self-assessment survey.

This online “portal” to the literature aims at helping innovation managers, students and young researchers in quickly developing a preliminary view on the state-of-the-art literature regarding various innovation management topics and issues. It can of course be complemented when needed with a more focused traditional literature review.

Thus, innovation managers and students can on one hand gain access to a structured and up-to-date overview of the innovation management literature, and additionally may be able to quickly identify the key articles relevant to the specific challenges they have to cope with.

This information is made available without requiring scholarly knowledge of the relevant keywords and journals, while still leveraging high-quality journals from a wide range of relevant disciplines and including older but still relevant (highly-cited) references.

From a research viewpoint, this directory also provides indications of recurring innovation management themes (such as what is now called ambidexterity but which had already been studied decades ago) and controversies (for example regarding the benefits of R&D or first entry, or regarding the impact of size on innovation). It also highlights potential imbalances and gaps in the available literature, for example regarding the best practices and decision-making processes related to the valuation, portfolio management and successful implementation of innovation opportunities.

Limitations and areas for feedback and development

Structuring, commenting on and developing such a directory is by nature a perilous and subjective exercise, in particular regarding the selection and sorting of the relevant references. The areas where we believe there is still significant room for improvement include:

How to better deal with the potential selection bias that our approach generates? What could be the key issues, key insights and/or keywords missing?
How to efficiently maintain such list of references in a pragmatic way? What would be the ideal “size” (number of references) moving forward, if any?
How to make this material more relevant, visible, accessible and easy to use for its target audience?

Goethe is supposed to have said “there is nothing more frightful than ignorance in action”. We hope to have contributed a small step towards the development of more science- and evidence-based innovation management.

References

Agarwal, R., & Hoetker, G. (2007). A Faustian bargain? The growth of management and its relationship with related disciplines. Academy of Management Journal, 50(6), 1304-1322.

Bessant, J., 2019. BOOK REVIEW—“Navigating Innovation: How to Identify, Prioritize and Capture Opportunities for Strategic Success”. International Journal of Innovation Management (ijim), 24(01), pp.1-2.

Boly, V., Morel, L. and Camargo, M., 2014. Evaluating innovative processes in French firms: Methodological proposition for firm innovation capacity evaluation. Research Policy, 43(3), pp.608-622.

Crossan, M.M. and Apaydin, M., 2010. A multi‐dimensional framework of organizational innovation: A systematic review of the literature. Journal of Management Studies, 47(6), pp.1154-1191.

De Kort, C., Gailly, B., and de Viron, F., 2017. A multi-level framework of the determinants for organizational innovation: A systematic literature review, Working paper; Université Catholique de Louvain

Eisenhardt, K.M., 1989. Building theories from case study research. Academy of Management Review, 14(4), pp.532-550.

Fagerberg, J., Fosaas, M. and Sapprasert, K., 2012. Innovation: Exploring the knowledge base. Research Policy, 41(7), pp.1132-1153.

Frank, H. and Landström, H., 2016. What makes entrepreneurship research interesting? Reflections on strategies to overcome the rigour–relevance gap. Entrepreneurship & Regional Development, 28(1-2), pp.51-75.

Gopinath, C. and Hoffman, R.C., 1995. The relevance of strategy research: Practitioner and academic viewpoints. Journal of Management Studies, 32(5), pp.575-594.

Kieser, A. and Leiner, L., 2009. Why the rigour–relevance gap in management research is unbridgeable. Journal of Management Studies, 46(3), pp.516-533.

Lawson, B. and Samson, D., 2001. Developing innovation capability in organizations: a dynamic capabilities approach. International Journal of Innovation Management, 5(03), pp.377-400.

O’Connor, G.C., 2008. Major innovation as a dynamic capability: A systems approach. Journal of Product Innovation Management, 25(4), pp.313-330.

Raasch, C., Lee, V., Spaeth, S. and Herstatt, C., 2013. The rise and fall of interdisciplinary research: The case of open source innovation. Research Policy, 42(5), pp.1138-1151.

Romijn, H. and Albaladejo, M., 2002. Determinants of innovation capability in small electronics and software firms in southeast England. Research Policy, 31(7), pp.1053-1067.

Rothaermel, F.T. and Hess, A.M., 2007. Building dynamic capabilities: Innovation driven by individual-, firm-, and network-level effects. Organization Science, 18(6), pp.898-921.

Rousseau, D.M., 2007. A sticky, leveraging, and scalable strategy for high-quality connections between organizational practice and science. Academy of Management Journal, 50(5), pp.1037-1042.

Shane, S.A. and Ulrich, K.T., 2004. 50th anniversary article: Technological innovation, product development, and entrepreneurship in management science. Management Science, 50(2), pp.133-144.

Shane, S. and Venkataraman, S., 2000. The promise of entrepreneurship as a field of research. Academy of Management Review, 25(1), pp.217-226.

Smith, M., Busi, M., Ball, P. and Van der Meer, R., 2008. Factors influencing an organisation’s ability to manage innovation: a structured literature review and conceptual model. International Journal of Innovation management, 12(04), pp.655-676.

Starkey, K. and Madan, P., 2001. Bridging the relevance gap: Aligning stakeholders in the future of management research. British Journal of Management, 12, pp.S3-S26.

Starkey, K., Hatchuel, A. and Tempest, S., 2009. Management research and the new logics of discovery and engagement. Journal of Management Studies, 46(3), pp.547-558.

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Smart money: funding innovation projects

Benoît Gailly — Wed, 17 Jan 2018 14:04:57 +0000

The lack of track record, the ambiguity and the specificity of most innovation projects mean that innovation managers should consider alternative specialized sources of financing, such as informal and professional investors, to (co-)invest in the development of their opportunity.

Innovation managers and entrepreneurs looking for specialized outside (co-)investors must identify, target and engage effectively the right type of financial stakeholders, based on available offers, expectations and potential value-added.

Innovation managers and entrepreneurs can in some cases leverage the value-added and support of venture capitalists as (co-)investors, provided they master the business model of these specialized investors, their selection criteria and their negotiation process.

Bibliography

Sources of financing: why cash is costly

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Navigating the innovation financing fauna: financial stakeholders

Keywords: business angel, crowdfunding, FFF (friends, fools and family), investment funds, seed investing

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Professional innovation investors: Venture Capitalists

Keywords: bargaining, deal making, due diligence, syndication, venture capital

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The post Smart money: funding innovation projects appeared first on Navigating Innovation.

Nimble execution: learn cheaply and adapt quickly

Benoît Gailly — Wed, 17 Jan 2018 14:04:57 +0000

Management is (maybe) a science, but innovation is an art. Traditional corporate decision-making and project management approaches are therefore ill-suited to the ambiguity, high failure rate, pace and multifunctional aspects of innovation.

Innovators must play poker rather than chess. Traditional corporate decision-making approaches (“chess”) rely mainly on analyzing facts and minimizing failures – “thinking first”. But managing innovative organizations and capturing sizeable innovation opportunities (“poker”) must also rely on experimentation and proactive learning, combined with ruthless prioritization – “doing first”.

While traditional project management approaches rely mainly on set targets and task allocations, managing innovative organizations and capturing innovation opportunities also implies planning for changes in the plan and focusing on embedded flexibility and cross-functional mobilization.

Bibliography

Management is (maybe) a science, but innovation is an art

Keywords: cognitive biases, effectuation, emerging decision making, innovation project management, nimble, product innovation process

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Play poker, not chess: learning and folding

Keywords: beliefs, beta-testing, cheap experiments, dead horses, experimentation, known unknown, learning by doing, Minimum Viable Products, stopping projects

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Plan for changes in the plan: flexibility and mobilization

Keywords: ANT, coalitions, feedback loops, legitimacy, mobilization, pivot, social network, stakeholders

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The post Nimble execution: learn cheaply and adapt quickly appeared first on Navigating Innovation.

Lean development: speed and flexibility

Benoît Gailly — Wed, 17 Jan 2018 14:04:57 +0000

Capturing innovation opportunities requires crafting decision-making processes and working in dual learning modes, with phases – or “stages” – of intensive and focused development and experimentation combined with moments – or “gates” – of questioning and prioritization.

Steering innovation projects and teams requires combining the discipline of focused project portfolio and clear management commitments with an environment that fosters leadership, learning and experimentation.

Crossing the gap between a fuzzy innovation idea and sizeable value creation requires dedicated resources and capabilities, both to explore and frame selected potential opportunities and to exploit and scale up potential new businesses. Innovation is real work, requiring significant and specific time and resources.

Bibliography

Learning while delivering: crafting the right decision process

Keywords: agile, design thinking, flexibility, lean start-up, learning, management attention, prioritization, stage-gate

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Discipline and care: steering innovation projects and teams

Keywords: hypothesis-driven, not project management, portfolio monitoring, pressure

(Book) Govindarajan, V., & Trimble, C. (2010). The other side of innovation: Solving the execution challenge. Harvard Business Press.
(Video) Why Most Product Launches Fail, by Joan Schneider and Julie Hall (HBR)
(Video) Prof. Rita McGrath, Columbia Business School (2013), Five Ways to Ruin Your Innovation Process
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From fuzzy front end to value creation: crossing the gap

Keywords: assessment, front-end, gates, incubation, new product development, screening

(Book) Hill, Susan A., and Stylianos Georgoulas. Handbook of Research on Corporate Entrepreneurship (2016)
(Book) O’Reilly III, C. A., & Tushman, M. L. (2016). Lead and disrupt: How to solve the innovator’s dilemma. Stanford University Press.
(Book) Roberts, Michael J., Howard H. Stevenson, William A. Sahlman, Paul Marshall and Richard G. Hamermesh, eds. New Business Ventures and the Entrepreneur. 6th ed. New York: McGraw-Hill/Irwin, 2006.
(Video) Allocating Resources for Innovation by Kuczmarski Innovation (on Vimeo)
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(Article) Khurana, A. & Rosenthal, S.R. (1997). Integrating the Fuzzy Front-End of New Product Development. Sloan Management Review, 38 (2), 103-120.
(Article) Khurana, A., & Rosenthal, S. R. (1998). Towards holistic “front ends” in new product development. Journal of Product Innovation Management 15(1), 57-74.
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(Article) Markham, S. K. (2013). The impact of front‐end innovation activities on product performance. Journal of Product Innovation Management, 30, 77-92.
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The post Lean development: speed and flexibility appeared first on Navigating Innovation.

Valuating innovative business models: quantifying the unquantifiable

Benoît Gailly — Wed, 17 Jan 2018 14:04:25 +0000

Valuation is a decision-making process aimed at making smart bets on the “least bad” way to “put a number” on a business model, taking into account what is known, what is believed and the remaining ambiguities and uncertainties. Numbers are a necessary evil.

The net present value (NPV) method is a very powerful but also very dangerous technique for valuing a business model based on its expected riskiness and potential cash flows. It can in particular be effectively used to compare multiple business models under similar cost of capital and terminal value assumptions.

Sensitivity analysis and scenario planning approaches can be used to integrate known risks and potential uncertainties and to reduce the scope of managerial ignorance, provided they are based on challenging business conversations regarding “what you need to believe” rather than black box models and/or blind number-crunching.

Bibliography

The valuation decision-making process: making smart bets

Keywords: ambiguity, IRR (internal rate of return), mathiness, overconfidence, sources of uncertainties, ROI (return on investment), uncertainty, valuation methods

(Book) Blastland, M. & A. Dilnot (2007) The Tiger That Isn’t. Seeing through a world of numbers
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(Book) Goldfarb, B., & Kirsch, D. A. (2019). Bubbles and Crashes: The Boom and Bust of Technological Innovation. Stanford University Press.
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(Book) Kindleberger, Charles Poor, and Robert O’Keefe. Manias, panics, and crashes. Palgrave Macmillan, 2001.
(Books) Knight, F. H. (2012). Risk, uncertainty and profit. Courier Corporation.
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(Video) David Rose, How to pitch to a VC (TED talk)
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(Article) Fourcade, M. (2011). Cents and sensibility: economic valuation and the nature of “nature”. American Journal of Sociology, 116(6), 1721-77.
(Article) Ghosal, Vivek, and Prakash Loungani. “The differential impact of uncertainty on investment in small and large businesses.” Review of Economics and Statistics 82.2 (2000): 338-343.
(Article) Hering, T., Olbrich, M., & Steinrucke, M. (2006). Valuation of start-up internet companies. International Journal of Technology Management, 33(4), 406-419.
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(Article) O’Connor, G.C., & Rice, M.P. (2013). A comprehensive model of uncertainty associated with radical innovation. Journal of Product Innovation Management, 30(S1), 2-18.
(Article) Segal, Gill, Ivan Shaliastovich, and Amir Yaron. “Good and bad uncertainty: Macroeconomic and financial market implications.” Journal of Financial Economics 117.2 (2015): 369-397.
(Article) Sharapov, D., & Dahlander, L. (2025). Selection regimes and selection errors. Organization Science. doi.org/10.1287/orsc.2023.17482
(Article) Shepherd, D. A., & Zacharakis, A. (2002). Venture capitalists’ expertise: A call for research into decision aids and cognitive feedback. Journal of Business Venturing, 17(1), 1-20.
(Article) von Gelderen, M., Frese, M., & Thurik, R. (2000). Strategies, uncertainty and performance of small business startups. Small Business Economics, 15(3), 165-181.

Carefully using net present value (NPV) to value business models

Keywords: cost of capital, Discounted Cash Flow, Final Value, Net Present Value, opportunity cost, real options, risk premium, WACC

(Book) Copeland, Thomas E., Tim Koller, and Jack Murrin. “Valuation: measuring and managing the value of companies.” (1991).
(Video) Startup Valuation made simple by Serious Funding: The VC Method
(Article) Adner, R., & Levinthal, D.A. (2004). What is not a real option: Considering boundaries for the application of real options to business strategy. Academy of Management Review, 29(1), 74-85.
(Article) Gunther McGrath, R., & Nerkar, A. (2004). Real options reasoning and a new look at the R&D investment strategies of pharmaceutical firms. Strategic Management Journal, 25(1), 1-21.
(Article) Hanafizadeh, P., & Latif, V. (2011). Robust net present value. Mathematical and Computer Modelling, 54(1), 233-242.
(Article) Jacob, W.F., & Kwak, Y.H. (2003). In search of innovative techniques to evaluate pharmaceutical R&D projects. Technovation, 23(4), 291-296.
(Article) Kaufmann, C., Kock, A., & Gemünden, H. G. (2021). Strategic and cultural contexts of real options reasoning in innovation portfolios. Journal of Product Innovation Management, 38(3), 334-354
(Article) Lint, O., & Pennings, E. (1998). R&D as an option on market introduction. R&D Management, 28(4), 279-287
(Article) Loch, C. H., & Bode‐Greuel, K. (2001). Evaluating growth options as sources of value for pharmaceutical research projects. R&D Management, 31(2), 231-248.
(Article) Mitchell, G. R., & Hamilton, W. F. (2007). Managing R&D as a strategic option. Research-Technology Management, 50(2), 41-50.
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Integrating known risks and potential uncertainties:

Keywords: black swans, luck, Monte-Carlo simulations, risk management, scenario planning, sensitivity analysis

(Book) Arend, R.A. (2024) Uncertainty in Strategic Decision Making: Analysis, Categorization, Causation and Resolution. Palgrave Macmillan
(Book) Gilovich, T., D. Griffin and D. Kahneman, Heuristics and Biases: The Psychology of Intuitive Judgment, , Cambridge University Press, 2002
(Book) Razgaitis, R. (2003) Dealmaking using real options and Monte-Carlo Analysis. John Wiley, Hoboken NJ
(Book) Silver, N. (2012) The Signal and the Noise: Why So Many Predictions Fail—But Some Don’t. Penguin Press
(Video) HBR: The Six-Minute Guide to Making Better High-Stakes Decisions, Sarah Cliffe
(Video) Shell, Navigating an Uncertain Future
(Article) Angus, R. W., Packard, M. D., & Clark, B. B. (2022). Distinguishing unpredictability from uncertainty in entrepreneurial action theory. Small Business Economics, 1-23.
(Article) Bodwell, W., & Chermack, T. J. (2010). Organizational ambidexterity: Integrating deliberate and emergent strategy with scenario planning. Technological Forecasting and Social Change, 77(2), 193-202.
(Article) Boudreau, K. J., Guinan, E. C., Lakhani, K. R., & Riedl, C. (2016). Looking across and looking beyond the knowledge frontier: Intellectual distance, novelty, and resource allocation in science. Management Science, 62(10), 2765-2783.
(Article) Bylund, P.L., & McCaffrey, M. (2017). A theory of entrepreneurship and institutional uncertainty, Journal of Business Venturing, 32(5), 461-475.
(Article) Cornelius, P., Van de Putte, A., & Romani, M. (2005). Three decades of scenario planning in shell. California Management Review, 48(1), 92-109.
(Article) Courtney, Hugh. “Decision-driven scenarios for assessing four levels of uncertainty.” Strategy & Leadership 31.1 (2003): 14-22.
(Article) Das, T. K., & Teng, B. S. (1999). Cognitive biases and strategic decision processes: An integrative perspective. Journal of Management Studies, 36(6), 757-778
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(Article) Denrell, J., Fang, C., & Liu, C. (2014). Perspective—Chance explanations in the management sciences. Organization Science, 26(3), 923-940.
(Article) Dow, J., & da Costa Werlang, S. R. (1992). Uncertainty aversion, risk aversion, and the optimal choice of portfolio. Econometrica: Journal of the Econometric Society, 197-204.
(Article) Goodwin, P., & Wright, G. (2010). The limits of forecasting methods in anticipating rare events. Technological forecasting and social change, 77(3), 355-368.
(Article) Hanafizadeh, Payam, Abolfazl Kazazi, and Azam Jalili Bolhasani. “Portfolio design for investment companies through scenario planning.” Management Decision 49.4 (2011): 513-532.
(Article) Jalonen, H. (2012). The uncertainty of innovation: a systematic review of the literature. Journal of Management Research, 4(1), 1.
(Article) Jovanović, Petar. “Application of sensitivity analysis in investment project evaluation under uncertainty and risk.” International Journal of Project Management 17.4 (1999): 217-222.
(Article) Kenney, H.S., & Pelley, B. (2014). Stories that drive the future: how narratives can improve scenario planning. Strategy & Leadership, 42(5), 28-33.
(Article) Keizer, J. A., Vos, J. P., & Halman, J. I. (2005). Risks in new product development: devising a reference tool. R&D Management, 35(3), 297-309.
(Article) Kim, L. (1998). Crisis construction and organizational learning: Capability building in catching-up at Hyundai Motor. Organization Science, 9(4), 506-521.
(Article) Kleinknecht, A., & Van Der Panne, G. (2012). Predicting new product sales: The post-launch performance of 215 innovators. International Journal of Innovation Management, 16(02), 1250011.
(Article) Liu, C., & De Rond, M. (2016). Good night, and good luck: Perspectives on luck in management scholarship. The Academy of Management Annals, 10(1), 409-451.
(Article) Mendonça, S., e Cunha, M. P., Ruff, F., & Kaivo-oja, J. (2009). Venturing into the wilderness: Preparing for wild cards in the civil aircraft and asset-management industries. Long Range Planning, 42(1), 23-41..
(Article) Postma, T. J., & Liebl, F. (2005). How to improve scenario analysis as a strategic management tool?. Technological Forecasting and Social Change, 72(2), 161-173.
(Article) Ruff, Frank. “Corporate foresight: integrating the future business environment into innovation and strategy.” International Journal of Technology Management 34.3-4 (2006): 278-295.
(Article) Van Groenendaal, Willem JH. “Estimating NPV variability for deterministic models.” European Journal of Operational Research 107.1 (1998): 202-213.
(Article) Vecchiato, R. (2019). Scenario Planning, Cognition, and Strategic Investment Decisions in a Turbulent Environment. Long Range Planning. (in press) https://doi.org/10.1016/j.lrp.2019.01.002
(Article) Vettorello, M., Eisenbart, B., & Ranscombe, C. (2021). The Innovation System Roadmap: A novel approach to instil futures‐oriented reasoning in strategic decision making. Creativity and Innovation Management.
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(Article) Xu, Chonggang, and George Zdzislaw Gertner. “Uncertainty and sensitivity analysis for models with correlated parameters.” Reliability Engineering & System Safety 93.10 (2008): 1563-1573.

The post Valuating innovative business models: quantifying the unquantifiable appeared first on Navigating Innovation.

Mobilizing the right resources: Who and how much?

Benoît Gailly — Wed, 17 Jan 2018 14:04:25 +0000

Probably the most important but least understood aspect of a successful innovative business model is the identification and mobilization of the required entrepreneurial talent and expertise. Too often firms decide first to launch a project and then try to staff and link it with whoever is available, that is in many cases not the right people or partners.

The hidden secret behind the failures of many innovative ventures is not bad technologies but bad governance, with the wrong people taking the wrong decisions or failing to take any decisions at all.

The easiest way to waste an innovation opportunity is to underestimate the financial resources required over time to support the launch and growth of a sustainable business model. Great innovations are never overnight successes.

Bibliography

Entrepreneurial talent and expertise: Who does what?

Keywords: make or buy, scalability, entrepreneurial team, human capital, human resources, venture team

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(Article) Ensley, M. D., & Hmieleski, K. M. (2005). A comparative study of new venture top management team composition, dynamics and performance between university-based and independent start-ups. Research Policy, 34(7), 1091-1105.
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(Article) Gemünden, H. G., Salomo, S., & Hölzle, K. (2007). Role models for radical innovations in times of open innovation. Creativity and Innovation Management, 16(4), 408-421.
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(Article) Shane, S., & Stuart, T. (2002). Organizational endowments and the performance of university start-ups. Management Science, 48(1), 154-170.
(Article) Shrader, R., & Siegel, D. S. (2007). Assessing the Relationship between Human Capital and Firm Performance: Evidence from Technology–Based New Ventures. Entrepreneurship Theory and Practice, 31(6), 893-908.
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(Article) Unger, J.M., Rauch, A., Frese, M. & Rosenbuch, N. (2011). Human capital and entrepreneurial success: A meta-analytical review. Journal of Business Venturing, 26(3), 341-358
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(Article) Wang, H. C., He, J., & Mahoney, J. T. (2009). Firm‐specific knowledge resources and competitive advantage: the roles of economic‐and relationship‐based employee governance mechanisms. Strategic Management Journal, 30(12), 1265-1285.
(Article) Zhang, L. (2019). Founders matter! Serial entrepreneurs and venture capital syndicate formation. Entrepreneurship Theory and Practice, 43(5), 974-998

Governance: Who decides what?

Keywords: board, corporate governance, governance, equity distribution, family business, organizational structure, upper echelon

(Book) Charan, R., Barton, D., & Carey, D. (2018). Talent Wins: The New Playbook for Putting People First. Harvard Business Press.
(Book) Finkelstein, S. (2004). Why smart executives fail: And what you can learn from their mistakes. Penguin.
(Book) Govindarajan, V., & Trimble, C. (2010). The other side of innovation: Solving the execution challenge. Harvard Business Press.
(Book) Kuratko et al. (2011) Corporate Innovation and Entrepreneurship, South-Western Cengage Learning
(Video) Holacracy: A Radical New Approach to Management, by Brian Robertson, TEDxGrandRapids
(Article) Aldrich, H. E., & Cliff, J. E. (2003). The pervasive effects of family on entrepreneurship: Toward a family embeddedness perspective. Journal of Business Venturing, 18(5), 573-596.
(Article) Anderson, S.W., & Dekker, H.C. (2005). Management control for market transactions: The relation between transaction characteristics, incomplete contract design, and subsequent performance. Management Science, 51(12), 1734-1752.
(Article) Andries, P., & Czarnitzki, D. (2014). Small firm innovation performance and employee involvement. Small Business Economics, 43(1), 21-38.
(Article) Ardichvili, A., Harmon, B., Cardozo, R. N., Reynolds, P. D., & Williams, M. L. (1998). The new venture growth: Functional differentiation and the need for human resource development interventions. Human Resource Development Quarterly, 9(1), 55-70.
(Article) Arzubiaga, U., Kotlar, J. De Massis, A., Maseda, A. & Iturralde, T. (2018)). Entrepreneurial orientation and innovation in family SMEs: Unveiling the (actual) impact of the Board of Directors, Journal of Business Venturing, 33(4), 455-469
(Article) Baron, J. N., Hannan, M. T., & Burton, M. D. (1999). Building the iron cage: Determinants of managerial intensity in the early years of organizations. American Sociological Review, 527-547.
(Article) Breugst, N., Patzelt, H., & Rathgeber, P. (2015). How should we divide the pie? Equity distribution and its impact on entrepreneurial teams. Journal of Business Venturing, 30(1), 66-94.
(Article) Cardon, M. S., & Stevens, C. E. (2004). Managing human resources in small organizations: What do we know?. Human Resource Management Review, 14(3), 295-323.
(Article) Clarysse, B., Knockaert, M., & Lockett, A. (2007). Outside board members in high tech start-ups. Small Business Economics, 29(3), 243-259.
(Article) Colombo, M. G., Croce, A., & Murtinu, S. (2014). Ownership structure, horizontal agency costs and the performance of high-tech entrepreneurial firms. Small Business Economics, 42(2), 265-282.
(Article) Daily, C. M., & Dalton, D. R. (1992). The relationship between governance structure and corporate performance in entrepreneurial firms. Journal of Business Venturing, 7(5), 375-386.
(Article) Daily, C. M., Dalton, D. R., & Cannella Jr, A. A. (2003). Corporate governance: Decades of dialogue and data. Academy of Management Review, 28(3), 371-382.
(Article) Forbes, Daniel P., and Frances J. Milliken. “Cognition and corporate governance: Understanding boards of directors as strategic decision-making groups.” Academy of Management Review 24.3 (1999): 489-505
(Article) Fried, V. H., Bruton, G. D., & Hisrich, R. D. (1998). Strategy and the board of directors in venture capital-backed firms. Journal of Business Venturing, 13(6), 493-503.
(Article) Garg, S., & Furr, N. (2017). Venture Boards: Past Insights and Future Directions. Strategic Entrepreneurship Journal. 11, 326–343.
(Article) Genin, A., Ma, W., Bhagwat, V., & Bernile, G. (2023). Board experiential diversity and corporate radical innovation. Strategic Management Journal, 44(11), 2634-2657.
(Article) Greinier, L.E. (1998) Evolution and Revolution as Organizations Grow. Harvard Business Review, reprint 98308
(Article) Gulati, R., Puranam, P., & Tushman, M. (2012). Meta‐organization design: Rethinking design in interorganizational and community contexts. Strategic Management Journal, 33(6), 571-586.
(Article) Hambrick, D. C. (2007). Upper echelons theory: An update. Academy of Management Review, 32(2), 334-343.
(Article) Hellmann, T. (1998). The allocation of control rights in venture capital contracts. The Rand Journal of Economics, 57-76.
(Article) Hillman, A. J., & Dalziel, T. (2003). Boards of directors and firm performance: Integrating agency and resource dependence perspectives. Academy of Management Review, 28(3), 383-396.
(Article) Hotho, S., & Champion, K. (2011). Small businesses in the new creative industries: innovation as a people management challenge. Management Decision, 49(1), 29-54.
(Article) Kor, Y. Y., & Mesko, A. (2013). Dynamic managerial capabilities: Configuration and orchestration of top executives’ capabilities and the firm’s dominant logic. Strategic Management Journal, 34(2), 233-244.
(Article) Kor, Y. Y., & Misangyi, V. F. (2008). Outside directors’ industry‐specific experience and firms’ liability of newness. Strategic Management Journal, 29(12), 1345-1355.
(Article) McDonald, M. L., Khanna, P., & Westphal, J. D. (2008). Getting them to think outside the circle: Corporate governance, CEOs’ external advice networks, and firm performance. Academy of Management Journal, 51(3), 453-475.
(Article) Miles, M. P., & Covin, J. G. (2002). Exploring the practice of corporate venturing: Some common forms and their organizational implications. Entrepreneurship Theory and Practice, 26(3), 21-40
(Article) Nieto, M. J., Santamaria, L., & Fernandez, Z. (2015). Understanding the innovation behavior of family firms. Journal of Small Business Management, 53(2), 382-399.
(Article) Patel, P. C., & Cardon, M. S. (2010). Adopting HRM practices and their effectiveness in small firms facing product‐market competition. Human Resource Management, 49(2), 265-290.
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(Article) Sanders, W. M., & Boivie, S. (2004). Sorting things out: Valuation of new firms in uncertain markets. Strategic Management Journal, 25(2), 167-186.
(Article) Sine, W.D., Mitsuhashi, H., & Kirsch, D.A. (2006). Revisiting Burns and Stalker: Formal structure and new venture performance in emerging economic sectors. Academy of Management Journal, 49(1), 121-132.
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(Article) Zahra, S. A., Neubaum, D. O., & Huse, M. (2000). Entrepreneurship in medium-size companies: Exploring the effects of ownership and governance systems. Journal of Management, 26(5), 947-976.

How much? Financial resources

Keywords: barriers to entry, break-even, cannibalization, financial metrics, payback, valley of death

(Book) Andrew, James P., Harold L. Sirkin, and John Butman. Payback: reaping the rewards of innovation. Harvard Business Press, 2007.
(Book) Damodaran, A. (2009). The dark side of valuation: valuing young, distressed, and complex businesses. Ft Press.
(Video) Introduction to Valuation Aswath Damodaran
(Article) Heirman, Ans, and Bart Clarysse. “How and why do research-based start-ups differ at founding? A resource-based configurational perspective.” The Journal of Technology Transfer 29.3 (2004): 247-268.
(Article) Zott, C., & Amit, R. (2007). Business model design and the performance of entrepreneurial firms. Organization Science, 18(2), 181-199.

The post Mobilizing the right resources: Who and how much? appeared first on Navigating Innovation.

Designing competitive business models: Why and what?

Benoît Gailly — Wed, 17 Jan 2018 14:04:25 +0000

The first (obvious but still too often forgotten) strategic challenge of a successful business model is to address somebody’s problem. It must demonstrate that potentially enough people out there have a problem and that the problem is painful enough for them to be ready to both adopt and pay for a new solution.

The second strategic challenge of a successful business model is to be better positioned than others. The innovators and their organization must demonstrate that they could address a relevant problem or meet a need better than the available alternatives, based on their scope as well as their scale, unique assets and/or agility.

On the other hand, the first operational challenge of a successful business model is to conceive an initial value proposition, which some people will actually be ready and able to find, adopt and pay for. What will be on the first invoice?

The second – and too often forgotten – operational challenge of a successful business model is to set up, integrate and scale up over time a competitive and sustainable value chain, including the right design, operations, client management and support activities.

Bibliography

Strategy: Why? Addressing somebody’s problem

Keywords: empathic design, market analysis, segmentation, target market

(Book) Christensen, C.M. and Raynor, M.E. (2003) The Innovator’s solution, Harvard Business School Press
(Book) Maslow, A.H. (1998) Towards a Psychology of Being, 3rd ed., Wiley
(Video) Jobs-to-Be-Done by Prof. Clayton Christensen
(Video) Anthony Ulwick (2016) What Customers Want: Using Outcome-Driven Innovation to Create Breakthrough Products and Services;
(Article) Acemoglu, D., & Linn, J. (2004). Market size in innovation: theory and evidence from the pharmaceutical industry. The Quarterly Journal of Economics, 119(3), 1049-1090.
(Article) Covin, J. G., Garrett, R. P., Kuratko, D. F., & Shepherd, D. A. (2015). Value proposition evolution and the performance of internal corporate ventures. Journal of Business Venturing, 30(5), 749-774.
(Article) Christensen, C. M., Hall, T., Dillon, K., & Duncan, D. S. (2016). Know your customers’“jobs to be done”. Harvard Business Review, 94(9), 54-62.
(Article) Dubois, P., De Mouzon, O., Scott‐Morton, F., & Seabright, P. (2015). Market size and pharmaceutical innovation. The RAND Journal of Economics, 46(4), 844-871.
(Article) Griffin, A., & Hauser, J. R. (1993). The voice of the customer. Marketing Science, 12(1), 1-27.
(Article) Leonard, D., & Rayport, J. (1997). ‘Spark innovation through empathic design’,
Harvard Business Review, 75(6), 102-113.
(Article) Liedtka, J. (2015). Perspective: Linking design thinking with innovation outcomes through cognitive bias reduction. Journal of Product Innovation Management, 32(6), 925-938.
(Article) O’Connor, G. C., & Veryzer, R. W. (2001). The nature of market visioning for technology‐based radical innovation. Journal of Product Innovation Management, 18(4), 231-246.
(Article) Reid, S. E., & De Brentani, U. (2010). Market vision and market visioning competence: Impact on early performance for radically new, high‐tech products. Journal of Product Innovation Management, 27(4), 500-518.
(Article) Slater, S. F., & Mohr, J. J. (2006). Successful development and commercialization of technological innovation: insights based on strategy type. Journal of Product Innovation Management, 23(1), 26-33.

Strategy: Why us? Being better positioned than others

Keywords: competitiveness, strategic fit, technology regimes, unique assets

(Book) Brown, Shona L., and Kathleen M. Eisenhardt. Competing on the edge: Strategy as structured chaos. Harvard Business Press, 1998.
(Book) Porter, Michael E. “Competitive advantage: creating and sustaining superior performance. 1985.” New York: FreePress (1985).
(Video) The End of Competitive Advantage, Harvard Business Review
(Article) Adner, R., & Zemsky, P. (2006). A demand‐based perspective on sustainable competitive advantage. Strategic Management Journal, 27(3), 215-239.
(Article) Agrawal, V.V., Atasu, A., & Van Ittersum, K. (2015). Remanufacturing, third-party competition, and consumers’ perceived value of new products. Management Science, 61(1), 60-72.
(Article) Ahuja, G., Lampert, C.M., & Novelli, E. (2013). The second face of appropriability: Generative appropriability and its determinants. Academy of Management Review, 38(2), 248-269.
(Article) Casadesus‐Masanell, R., & Zhu, F. (2013). Business model innovation and competitive imitation: The case of sponsor‐based business models. Strategic Management Journal, 34(4), 464-482.
(Article) Christensen, C. M. (2001). The past and future of competitive advantage. MIT Sloan Management Review, 42(2), 105-109.
(Article) Cooper, R. G. (1979). The dimensions of industrial new product success and failure. Journal of Marketing, 43(3), 93-103.
(Article) Cooper, R. G., & Kleinschmidt, E. J. (1987). New products: what separates winners from losers?. Journal of Product Innovation Management, 4(3), 169-184.
(Article) Dickler, T. A., Folta, T. B., Giarratana, M. S., & Santalo, J. (2022). The value of flexibility in multi‐business firms. Strategic Management Journal, 43(12), 2602-2628.
(Article) Dierickx, I., & Cool, K. (1989). Asset stock accumulation and sustainability of competitive advantage. Management Science, 35(12), 1504-1511.
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(Article) Haynie, J.M., Shepherd, D.A., & McMullen, J.S. (2009). An Opportunity for Me? The Role of Resources in Opportunity Evaluation Decisions. Journal of Management Studies, 46(3), 337-361.
(Article) Kulins, C., Leonardy, H., & Weber, C. (2016). A configurational approach in business model design. Journal of Business Research, 69(4), 1437-1441.
(Article) Leiponen, A., & Byma, J. (2009). If you cannot block, you better run: Small firms, cooperative innovation, and appropriation strategies. Research Policy, 38(9), 1478-1488.
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(Article) McGrath, R. G. (2013). Transient advantage. Harvard Business Review, 91(6), 62-70.
(Article) McKnight, B. & Zietsma, C. (2018). Finding the threshold: A configurational approach to optimal distinctiveness, Journal of Business Venturing, 33(4), 493-512,
(Article) Mitchell, D., & Coles, C. (2003). The ultimate competitive advantage of continuing business model innovation. Journal of Business Strategy, 24(5), 15-21.
(Article) Nag, R., Hambrick, D. C., & Chen, M. J. (2007). What is strategic management, really? Inductive derivation of a consensus definition of the field. Strategic Management Journal, 28(9), 935-955.
(Article) Shepherd, D. A. (1999). Venture capitalists’ assessment of new venture survival. Management Science, 45(5), 621-632.
(Article) Spieth, P., Schneckenberg, D., & Matzler, K. (2016). Exploring the linkage between business model (&) innovation and the strategy of the firm. R&D Management, 46(3), 403-413
(Article) Thornhill, S., & Amit, R. (2001). A dynamic perspective of internal fit in corporate venturing. Journal of Business Venturing, 16(1), 25-50.

Operations: What could be sold? Designing the value proposition

Keywords: industrial design, product/market positioning, prototypes, value proposition

(Book) Kotler Ph. « Marketing Management »; Prentice Hall
(Video) Rory Sutherland: Life lessons from an ad man – TED talk
(Video) Clayton Christensen – When only a milkshake will do the job
(Article) Baden-Fuller, C., & Haefliger, S. (2013). Business models and technological innovation. Long Range Planning, 46(6), 419-426.
(Article) Gans, J., Scott, E. L., & Stern, S. (2018). Strategy for Start-ups. Harvard Business Review, 96(3), 44-51.
(Article) Gans, J. S., & Stern, S. (2003). The product market and the market for “ideas”: commercialization strategies for technology entrepreneurs. Research Policy, 32(2), 333-350.
(Article) Gemser, G., & Leenders, M. A. (2001). How integrating industrial design in the product development process impacts on company performance. Journal of Product Innovation Management, 18(1), 28-38.
(Article) Martin, R. L. (2011). The innovation catalysts. Harvard Business Review, 89(6), 82-87.
(Article) Hauser, J., Tellis, G J., & Griffin, A. (2006). Research on innovation: A review and agenda for marketing science. Marketing Science, 25(6), 687-717.
(Article) Johnson, M.W., Christensen, C.M., & Kagermann, H. (2008). Reinventing your business model. Harvard Business Review, 86(12), 57-68.
(Article) Khan, S. A., & Bohnsack, R. (2020). Influencing the disruptive potential of sustainable technologies through value proposition design: The case of vehicle-to-grid technology. Journal of Cleaner Production, 254, 120018.
(Article) Manu, Franklyn A., and Ven Sriram. (1996) “Innovation, marketing strategy, environment, and performance.” Journal of Business Research 35(1), 79-91.
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(Article) Ulaga, W., & Reinartz, W. J. (2011). Hybrid offerings: how manufacturing firms combine goods and services successfully. Journal of Marketing, 75(6), 5-23.
(Article) Verganti, R., Vendraminelli, L., & Iansiti, M. (2020). Innovation and design in the age of artificial intelligence. Journal of Product Innovation Management, 37(3), 212-227.
(Article) Weerawardena, Jay. “The role of marketing capability in innovation-based competitive strategy.” Journal of strategic marketing 11.1 (2003): 15-35.

Operations: What could be done? Assembling a competitive value chain

Keywords: circular business models, client management, operations, sales & marketing, support, value chain design

(Book) Porter, M.E. (1985) Competitive Advantage, The Free Press, New York
(Video) Value Chain Innovations in Business Eco-Systems; Stanford Online
(Article) Gomes, L. A., Castillo-Ospina, D. A., Facin, A. L. F., dos Santos Ferreira, C., & Ometto, A. R. (2023). Circular ecosystem innovation portfolio management. Technovation, 124, 102745.
(Article) Henry, M., Bauwens, T., Hekkert, M., & Kirchherr, J. (2019). A typology of circular start-ups: Analysis of 128 circular business models. Journal of Cleaner Production, 118528.
(Article) Jacobides, M.G., Knudsen, T., & Augier, M. (2006). Benefiting from innovation: Value creation, value appropriation and the role of industry architectures. Research Policy, 35(8), 1200-1221.
(Article) Jacobides, Michael G., and Sidney G. Winter. “The co‐evolution of capabilities and transaction costs: Explaining the institutional structure of production.” Strategic Management Journal 26.5 (2005): 395-413.
(Article) Jacobides, M. G., & Winter, S. G. (2005). The co‐evolution of capabilities and transaction costs: Explaining the institutional structure of production. Strategic Management Journal, 26(5), 395-413.
(Article) Porter, M., & Siggelkow, N. (2008). Contextuality within activity systems and sustainability of competitive advantage. The Academy of Management Perspectives, 22(2), 34-56.
(Article) Salvador, R., Puglieri, F. N., Halog, A., de Andrade, F. G., Piekarski, C. M., & Antonio, C. (2021). Key aspects for designing business models for a circular bioeconomy. Journal of Cleaner Production, 278, 124341.
(Article) Tee, R., & Gawer, A. (2009). Industry architecture as a determinant of successful platform strategies: A case study of the i‐mode mobile Internet service. European Management Review, 6(4), 217-232.
(Article) Porter, M., & Siggelkow, N. (2008). Contextuality within activity systems and sustainability of competitive advantage. The Academy of Management Perspectives, 22(2), 34-56.

The post Designing competitive business models: Why and what? appeared first on Navigating Innovation.

Business model design: asking the right questions

Benoît Gailly — Wed, 17 Jan 2018 14:04:25 +0000

Designing or improving a successful business model, business planning, means on one hand building and validating a credible story regarding how specific resources could be (better) mobilized to solve a specific problem and on the other hand selling that story to the relevant internal and external stakeholders.

A business model will be convincing if its design addresses in a consistent way four key questions: 1) Why is there a problem and why are we well positioned to solve it? 2) What exactly could be sold to whom and how? 3) Who needs to be mobilized? 4) How much is at stake?

Finding new ways to address the why, what, who and how much key questions around the same innovation opportunity can allow managers to design innovative (and more sustainable) business models.

Successful entrepreneurs and investors do not plan to fail. They prioritize the “why?” and “who?” key questions when assessing an innovative business opportunity. They know that the technology specifications (“what?”) and financial spreadsheets (“how much?”) will change and will need a lot of time and further effort to be fixed.

Bibliography

Successful business model design (business planning)

Keywords: business model, business plan, pitch, planning fallacy, storytelling

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(Video) Ep 1 – Getting From Business Idea to Business Model – Strategyzer
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The key questions: Why (us)? What? Who? How much?

Keywords: business model canvas, why/what/who/how much?

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Designing innovative business models

Keywords: new business model design, sharing economy, sustainable business model

(Book) Gassmann, Oliver, Frankenberger, Karolin, Sauer, Roman (2016) Exploring the Field of Business Model Innovation: New Theoretical Perspectives, Spinger
(Book) Johnson, M. W. (2010). Seizing the white space: Business model innovation for growth and renewal. Harvard Business Press.
(Book) Kaplan, S. (2012). The business model innovation factory: How to stay relevant when the world is changing. John Wiley & Sons.
(Book) Osterwalder, A., & Pigneur, Y. (2010) Business model generation: a handbook for visionaries, game changers, and challengers. John Wiley & Sons.
(Video) Business Model Innovation HSGUniStGallen
(Video) Strategy tools for Business Model Innovation – Engage Innovate
(Video) Andrew Maxwell, Alternate Business Model
(Article) Amit, R., & Zott, C. (2001). ‘Value creation in e-business’. Strategic Management Journal, 22, 493-520.
(Article) Amit, R., & Zott, C. (2012). Creating value through business model innovation. MIT Sloan Management Review, 53(3), 41.
(Article) Barbieri, R., & Santos, D. F. L. (2020). Sustainable business models and eco-innovation: A life cycle assessment. Journal of Cleaner Production, 266, 121954.
(Article) Belk, R. (2014). You are what you can access: Sharing and collaborative consumption online. Journal of Business Research, 67(8), 1595-1600.
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(Article) Bohnsack, R., Pinkse, J., & Kolk, A. (2014). Business models for sustainable technologies: Exploring business model evolution in the case of electric vehicles. Research Policy, 43(2), 284-300.
(Article) Burström, T., Parida, V., Lahti, T., & Wincent, J. (2021). AI-enabled business-model innovation and transformation in industrial ecosystems: A framework, model and outline for further research. Journal of Business Research, 127, 85-95.
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(Article) Chesbrough, H. “Business model innovation: it’s not just about technology anymore.” Strategy & Leadership 35.6 (2007): 12-17.
(Article) Chesbrough, H. (2010). Business model innovation: opportunities and barriers. Long Range planning, 43(2), 354-363.
(Article) Cosenz, F., & Noto, G. (2018). A dynamic business modelling approach to design and experiment new business venture strategies. Long Range Planning, 51(1), 127-140.
(Article) Cosenz, F., & Bivona, E. (2021). Fostering growth patterns of SMEs through business model innovation. A tailored dynamic business modelling approach. Journal of Business Research, 130, 658-669.
(Article) Christensen, C. M., Bartman, T., & Van Bever, D. (2016). The hard truth about business model innovation. MIT Sloan Management Review, 58(1), 31.
(Article) Demil, B., & Lecocq, X. (2010). Business model evolution: in search of dynamic consistency. Long Range Planning, 43(2-3), 227-246.
(Article) Euchner, J., & Ganguly, A. (2014). Business model innovation in practice. Research-Technology Management, 57(6), 33-39.
(Article) Evans, John D., and Ray O. Johnson. “Tools for managing early-stage business model innovation.” Research-Technology Management 56.5 (2013): 52-56.
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(Article) Gambardella, A., & McGahan, A.M. (2010). Business-model innovation: General purpose technologies and their implications for industry structure. Long Range Planning, 43(2), 262-271.
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(Article) Günzel, F., & Holm, A. B. (2013). One size does not fit all—understanding the front-end and back-end of business model innovation. International Journal of Innovation Management, 17(01), 1340002.
(Article) Haftor, D. M., & Costa, R. C. (2023). Five dimensions of business model innovation: A multi-case exploration of industrial incumbent firm’s business model transformations. Journal of Business Research, 154, 113352.
(Article) Hamari, J., Sjöklint, M., & Ukkonen, A. (2016). The sharing economy: Why people participate in collaborative consumption. Journal of the association for information science and technology, 67(9), 2047-2059.
(Article) Hargadon, A. (2015). How to discover and assess opportunities for business model innovation. Strategy & Leadership, 43(6), 33-37.
(Article) Jiang, F., Zheng, X., Di, F., Zhang, P., & Li, S. (2021). The Sharing Economy And Business Model Design: A Configurational Approach. Journal of Management Studies.
(Article) Koen, P. A., Bertels, H. M., & Elsum, I. R. (2011). The three faces of business model innovation: Challenges for established firms. Research-Technology Management, 54(3), 52-59.
(Article) Lawson, S. J., Gleim, M. R., Perren, R., & Hwang, J. (2016). Freedom from ownership: An exploration of access-based consumption. Journal of Business Research, 69(8), 2615-2623.
(Article) Mitchell, D. W., & Bruckner Coles, C. (2004). Establishing a continuing business model innovation process. Journal of Business Strategy, 25(3), 39-49.
(Article) Rask, M., & Günzel-Jensen, F. (2019). Business model design and performance in nascent markets. Management Decision.
(Article) Rayna, T., & Striukova, L. (2016). 360° Business Model Innovation: Toward an Integrated View of Business Model Innovation: An integrated, value-based view of a business model can provide insight into potential areas for business model innovation. Research-Technology Management, 59(3), 21-28
(Article) Ritala, P., Huotari, P., Bocken, N., Albareda, L., & Puumalainen, K. (2018). Sustainable business model adoption among S&P 500 firms: A longitudinal content analysis study. Journal of Cleaner Production, 170, 216-226.
(Article) Ritter, M., & Schanz, H. (2019). The sharing economy: A comprehensive business model framework. Journal of Cleaner Production, 213, 320-331.
(Article) Roessler, M., Velamuri, V. K., & Schneckenberg, D. (2019). Corporate entrepreneurship initiatives: Antagonizing cognitive biases in business model design. R&D Management, 49(4), 509-533.
(Article) Sinfield, J. V., Calder, E., McConnell, B., & Colson, S. (2012). How to identify new business models. MIT Sloan Management Review, 53(2), 85-90.
(Article) Sosna, M., Trevinyo-Rodríguez, R. N., & Velamuri, S. R. (2010). Business model innovation through trial-and-error learning: The Naturhouse case. Long Range Planning, 43(2-3), 383-407.
(Article) Trapp, M., Voigt, K. I., & Brem, A. (2018). Business models for corporate innovation management: Introduction of a business model innovation tool for established firms. International Journal of Innovation Management, 22(01), 1850007.
(Article) Trimi, S., & Berbegal-Mirabent, J. (2012). Business model innovation in entrepreneurship. International Entrepreneurship and Management Journal, 8(4), 449-465.
(Article) Tykkyläinen, S., Ritala, P. (2020). Business model innovation in social enterprises: An activity system perspective. Journal of Business Research, doi.org/10.1016/j.jbusres.2020.01.045.

Do not plan to fail

Keywords: business model success and failure factors, overconfidence, planning fallacy

(Book) Moore, Geoffrey A. “Crossing the chasm.” (2002).
(Video) The Explainer: How to Write a Great Business Plan , HBR
(Video) The single biggest reason why startups succeed, Bill Gross, TedxTalk
(Article) Balboni, B., Bortoluzzi, G., Pugliese, R., & Tracogna, A. (2019). Business model evolution, contextual ambidexterity and the growth performance of high-tech start-ups. Journal of Business Research, 99, 115-124.
(Article) Baum, J. A., & Silverman, B. S. (2004). Picking winners or building them? Alliance, intellectual, and human capital as selection criteria in venture financing and performance of biotechnology startups. Journal of Business Venturing, 19(3), 411-436.
(Article) Behrens, J., Ernst, H., & Shepherd, D. A. (2014). The decision to exploit an R&D project: Divergent thinking across middle and senior managers. Journal of Product Innovation Management, 31(1), 144-158.
(Article) Bernstein, S., Korteweg, A., & Laws, K. (2017). Attracting early‐stage investors: Evidence from a randomized field experiment. The Journal of Finance, 72(2), 509-538.
(Article) Bertels, H. M., Koen, P. A., & Elsum, I. (2015). Business models outside the core: Lessons learned from success and failure. Research-Technology Management, 58(2), 20-29.
(Article) Buehler, R., Griffin, D. and Ross, M. 1994. Exploring the “Planning Fallacy”: Why People Underestimate Their Task Completion Times. Journal of Personality and Social Psychology 67(3):366-381.
(Article) Burgers, J. H., Van Den Bosch, F. A., & Volberda, H. W. (2008). Why new business development projects fail: Coping with the differences of technological versus market knowledge. Long Range Planning, 41(1), 55-73.
(Article) Camerer, C., & Lovallo, D. (1999). Overconfidence and excess entry: An experimental approach. American Economic Review, 89(1), 306-318.
(Article) Dhochak, M., Dhochak, M., Sharma, A. K., & Sharma, A. K. (2016). Identification and prioritization of factors affecting venture capitalists’ investment decision-making process: An analytical hierarchal process (AHP) approach. Journal of Small Business and Enterprise Development, 23(4), 964-983.
(Article) Feeney, L., Haines Jr, G. H., & Riding, A. L. (1999). Private investors’ investment criteria: insights from qualitative data. Venture Capital, 1(2), 121-145.
(Article) Galasso, A., & Simcoe, T. S. (2011). CEO overconfidence and innovation. Management Science, 57(8), 1469-1484.
(Article) Kakati, M. (2003). Success criteria in high-tech new ventures. Technovation, 23(5), 447-457
(Article) Kumar, A., & Operti, E. (2023). Missed chances and unfulfilled hopes: Why do firms make errors in evaluating technological opportunities?. Strategic Management Journal, 44(13), 3067-3097
(Article) Malmendier, U., & Tate, G. (2005). CEO overconfidence and corporate investment. The Journal of Finance, 60(6), 2661-2700.
(Article) Miloud, T., Aspelund, A., & Cabrol, M. (2012). Startup valuation by venture capitalists: an empirical study. Venture Capital, 14(2-3), 151-174.
(Article) Muzyka, D., S. Birley and B. Leleux (1996), ‘ Trade-offs in the investment decisions of European venture capitalists’, Journal of Business Venturing, 11(4) , pp. 273-287.
(Article) Roure, J. B., & Keeley, R. H. (1990). Predictors of success in new technology based ventures. Journal of Business Venturing, 5(4), 201-220.
(Article) Sarason, Y., Dean, T., & Dillard, J. F. (2006). Entrepreneurship as the nexus of individual and opportunity: A structuration view. Journal of Business Venturing, 21(3), 286-305.

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Building consistent and balanced innovation portfolios

Benoît Gailly — Wed, 17 Jan 2018 14:04:25 +0000

The value of an innovative opportunity – “the egg” – should be assessed taking into account how and how much it fits with the portfolio of innovative and non-innovative projects currently pursued by an organization – “the baskets”.

How an innovation opportunity will affect the consistency of the corporate portfolio should be assessed, in terms of both the potential critical resources bottlenecks – in particular management’s and customers’ attention – and the potential technological and organizational synergies.

How much an innovation opportunity will affect the balance and alignment of the corporate portfolio should be assessed, both in terms of strategic scope – exploitation vs. exploration – and with respect to the time horizon – short-, mid- and long-term.

Bibliography

Managing a portfolio of opportunities

Keywords: portfolio management, synergies

(Book) Cooper, Robert Gravlin, Scott J. Edgett, and Elko J. Kleinschmidt. Portfolio management for new products. Basic Books, 2001.
(Video) Innovation Portfolio Management: The logical, non-sexy yet effective approach from Maddock Douglas, Inc (on Vimeo)
(Article) Cooper, R., Edgett, S., & Kleinschmidt, E. (2001). Portfolio management for new product development: results of an industry practices study. R&D Management, 31(4), 361-380.
(Article) Eckert, T., & Hüsig, S. (2022). Innovation portfolio management: A systematic review and research agenda in regards to digital service innovations. Management Review Quarterly, 72(1), 187-230.
(Article) Engwall, M. (2003). No project is an island: linking projects to history and context. Research Policy, 32(5), 789-808.
(Article) Floricel, S., & Ibanescu, M. (2008). Using R&D portfolio management to deal with dynamic risk. R&d Management, 38(5), 452-467.
(Article) Kang, W., & Montoya, M. (2014). The impact of product portfolio strategy on financial performance: The roles of product development and market entry decisions. Journal of Product Innovation Management, 31(3), 516-534.
(Article) Kester, L., Griffin, A., Hultink, E. J., & Lauche, K. (2011). Exploring portfolio decision‐making processes. Journal of product innovation management, 28(5), 641-661.
(Article) Lee, R., Lee, J. H., & Garrett, T. C. (2019). Synergy effects of innovation on firm performance. Journal of Business Research, 99, 507-515.
(Article) Mikkola, J. H. (2001). Portfolio management of R&D projects: implications for innovation management. Technovation, 21(7), 423-435.
(Article) Paulson, A.S., O’Connor, G.C., & Robeson, D. (2007). Evaluating radical innovation portfolios. Research-Technology Management, 50(5), 17-29.
(Article) Si, H., Kavadias, S., & Loch, C. (2022). Managing innovation portfolios: From project selection to portfolio design. Production and Operations Management, 31(12), 4572-4588.
(Article) Smit, H.T., & Trigeorgis, L. (2006). Strategic planning: valuing and managing portfolios of real options. R&D Management, 36(4), 403-419.

Building consistent innovation portfolios

Keywords: consistency, modularity, technology roadmap

(Book) Archibald, Russell D., and Shane Archibald. Leading and Managing Innovation: What Every Executive Team Must Know about Project, Program, and Portfolio Management. CRC Press, 2016.
(Video) Embracing Agile, Darrell K. Rigby, Jeff Sutherland, Hirotaka Takeuchi
(Article) Barnett, W. P., & Freeman, J. (2001). Too much of a good thing? Product proliferation and organizational failure. Organization Science, 12(5), 539-558.
(Article) Campagnolo, D., & Camuffo, A. (2010). The concept of modularity in management studies: a literature review. International Journal of Management Reviews, 12(3), 259-283.
(Article) Daim, T. U. (2013). Are formal technology integration processes needed for successful product innovations?. International Journal of Innovation Management, 17(04), 1350016.
(Article) Garcia-Vega, M. (2006). Does technological diversification promote innovation?: An empirical analysis for European firms. Research policy, 35(2), 230-246.
(Article) Hoetker, G. (2006). Do modular products lead to modular organizations?. Strategic Management Journal, 27(6), 501-518.
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(Article) Klingebiel, R., & Rammer, C. (2014). Resource allocation strategy for innovation portfolio management. Strategic Management Journal, 35(2), 246-268.
(Article) Nieto-Rodriguez, A. (2016). How to Prioritize Your Company’s Projects, Harvard Business Review. . Accessed December 15 2017.https://hbr.org/2016/12/how-to-prioritize-your-companys-projects
(Article) Ocasio, W. (1997). Towards an attention‐based view of the firm. Strategic Management Journal, 18(S1), 187-206.
(Article) Phaal, Robert, Clare JP Farrukh, and David R. Probert. “Technology management tools: concept, development and application.” Technovation 26.3 (2006): 336-344.
(Article) Rodríguez-Duarte, A., Sandulli, F. D., Minguela-Rata, B., & López-Sánchez, J. I. (2007). The endogenous relationship between innovation and diversification, and the impact of technological resources on the form of diversification. Research Policy, 36(5), 652-664.
(Article) Sanchez, R., & Mahoney, J. T. (1996). Modularity, flexibility, and knowledge management in product and organization design. Strategic Management Journal, 17(S2), 63-76.
(Article) Schilling, M. A. (2000). Toward a general modular systems theory and its application to interfirm product modularity. Academy of Management Review, 25(2), 312-334.
(Article) Schilling, M. A., & Steensma, H. K. (2001). The use of modular organizational forms: An industry-level analysis. Academy of Management Journal, 44(6), 1149-1168.
(Article) Schultz, C., Salomo, S., & Talke, K. (2013). Measuring new product portfolio innovativeness: How differences in scale width and evaluator perspectives affect its relationship with performance. Journal of Product Innovation Management, 30(S1), 93-109.
(Article) Simonse, L.W., Hultink, E. J., & Buijs, J. A. (2015). Innovation roadmapping: Building concepts from practitioners’ insights. Journal of Product Innovation Management, 32(6), 904-924.
(Article) Srivastava, M. K., & Gnyawali, D. R. (2011). When do relational resources matter? Leveraging portfolio technological resources for breakthrough innovation. Academy of Management Journal, 54(4), 797-810.

Staying the course: balanced and aligned portfolios

Keywords: balance, time horizons

(Book) Baghai, M., Coley, S., & White, D. (2000). The alchemy of growth: Practical insights for building the enduring enterprise. Da Capo Press.
(Video) The Zinnovants “Why innovate?”
(Article) Bauer, M., & Leker, J. (2013). Exploration and exploitation in product and process innovation in the chemical industry. R&D Management, 43(3), 196-212.
(Article) Bingham, C.B., Furr, N.R., & Eisenhardt, K.M. (2014). The opportunity paradox. MIT Sloan Management Review, 56(1), 29.
(Article) Chao, R. O., & Kavadias, S. (2008). A theoretical framework for managing the new product development portfolio: When and how to use strategic buckets. Management science, 54(5), 907-921
(Article) Cooper, R. G., Edgett, S. J., & Kleinschmidt, E. J. (2000). New problems, new solutions: making portfolio management more effective. Research-Technology Management, 43(2), 18-33.
(Article) Cooper, R. G. (2013). Where are all the breakthrough new products?: Using portfolio management to boost innovation. Research-Technology Management, 56(5), 25-33.
(Article) Eggers, J. P. (2012). All experience is not created equal: Learning, adapting, and focusing in product portfolio management. Strategic Management Journal, 33(3), 315-335.
(Article) Heising, W. (2012). The integration of ideation and project portfolio management—A key factor for sustainable success. International Journal of Project Management, 30(5), 582-595.
(Article) Hitt, M. A., Hoskisson, R. E., & Kim, H. (1997). International diversification: Effects on innovation and firm performance in product-diversified firms. Academy of Management journal, 40(4), 767-798.
(Article) Kaiser, M. G., El Arbi, F., & Ahlemann, F. (2015). Successful project portfolio management beyond project selection techniques: Understanding the role of structural alignment. International Journal of Project Management, 33(1), 126-139.
(Article) Lumpkin, G. T. and Brigham, K. H. (2011), Long-Term Orientation and Intertemporal Choice in Family Firms. Entrepreneurship Theory and Practice, 35: 1149–1169.
(Article) Markides, C.C. (2013). Business model innovation: What can the ambidexterity literature teach us?. The Academy of Management Perspectives, 27(4), 313-323.
(Article) Meskendahl, S. (2010). The influence of business strategy on project portfolio management and its success—a conceptual framework. International Journal of Project Management, 28(8), 807-817.
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(Article) Piscitello, L. (2004). Corporate diversification, coherence and economic performance. Industrial and Corporate Change, 13(5), 757-787.
(Article) Quintana-García, C., & Benavides-Velasco, C. A. (2008). Innovative competence, exploration and exploitation: The influence of technological diversification. Research Policy, 37(3), 492-507.
(Article) Schilling, M. A., & Hill, C. W. (1998). Managing the new product development process: strategic imperatives. Academy of Management Perspectives, 12(3), 67-81.
(Article) Smith, W.K., & Tushman, M.L. (2005). Managing strategic contradictions: A top management model for managing innovation streams. Organization Science, 16(5), 522-536.
(Article) Smith, D., & Sonnenblick, R. (2013). From budget-based to strategy-based portfolio management: a six-year case study. Research-Technology Management, 56(5), 45-51.
(Article) Tuff, G., & Nadji, B. (2012). Managing your innovation portfolio. Harvard Business Review, https://hbr.org/2012/05/managing-your-innovation-portfolio. Accessed December 15 2017.

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Integrate external sources of knowledge

Benoît Gailly — Wed, 17 Jan 2018 14:03:29 +0000

On top of their own R&D activities and operational improvements, firms must develop the ability to proactively harvest technology (r)evolutions. They must be able to absorb technology intelligence from external sources, both in their socioeconomic ecosystem and in the wider environment.

On top of their traditional marketing approaches, firms need to develop user-centric ways to “pull” untapped customer needs and uncover value gaps. They need to combine powerful analytics with in situ and empathetic observations and involvement of key users.

Firms should also invest time, money and resources to network and work with small innovative firms and disruptive start-ups, in particular through corporate venture capital initiatives. This should allow them to create options, leverage their assets and develop new competitive and technology intelligence.

Bibliography

Harvest technology (r)evolutions

Keywords: absorptive capacity, biomimicry, cross-industry innovation, Delphi method, greensourcing, not-invented-here, reverse engineering, technology intelligence

(Book) Argyris, C., & Schön, D. A. (1978). Organizational Learning, Readings. MA: Addison.
(Video) How does nature do life-friendly chemistry? – AskNature Nugget by Biomimicry Institute (on Vimeo)
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(Article) Cohen, W.M. and Levinthal, D.A. (1990). Absorptive capacity: a new perspective on learning and innovation. Administrative Science Quarterly, March 1990, 128-152
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(Article) Denicolai, S., Ramirez, M., & Tidd, J. (2016). Overcoming the false dichotomy between internal R&D and external knowledge acquisition: Absorptive capacity dynamics over time. Technological Forecasting and Social Change, 104, 57-65.
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(Article) Grimpe, C., & Kaiser, U. (2010). Balancing internal and external knowledge acquisition: the gains and pains from R&D outsourcing. Journal of Management Studies, 47(8), 1483-1509.
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Explore untapped customer needs: user-centric innovation

Keywords: cocreation, customer analytics, ethnography, lead users, living labs, market research, quality function deployment, toolkits, untapped customer needs, user-centric innovations, value gaps

(Book) Christensen, C., Karen Dillon, Taddy Hall, & Duncan, D.S. (2016) Competing Against Luck: The Story of Innovation and Customer Choice, Harper Business.
(Book) Living Labs: Best of TIM Review; Dec 18, 2015 by Mika Westerlund and Seppo Leminen
(Book) Management of the Fuzzy Front End of Innovation; Oct 8, 2013 by Oliver Gassmann and Fiona Schweitzer
(Book) Thallmaier, S. R. (2014). Customer co-design: A study in the mass customization industry. Springer.
(Video) http://livinglab.mit.edu/
(Video) How Qualitative Research Shapes the Innovation Process by Kuczmarski Innovation (on Vimeo)
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Seeding new ventures: corporate venture capital

Keywords: acquisitions, corporate venture capital, entrepreneurial spawning, objectives of corporate venture capital, hackatons, innovation contests, innovation prizes

(Book) Landström, Hans, ed. Handbook of research on venture capital. Edward Elgar Publishing, 2007.
(Book) Maula, Markku VJ. Corporate venture capital and the value-added for technology-based new firms. Helsinki University of Technology, 2001.
(Video) Biopharma Health MIT Hackathon
(Video) Connecting Companies of All Sizes through Innovation by Kuczmarski Innovation (on Vimeo)
(Video) The UBS Hackaton (on UBS website)
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(Article) Becker, B., & Gassmann, O. (2006). Gaining leverage effects from knowledge modes within corporate incubators. R&D Management, 36(1), 1-16.
(Article) Belderbos, R., Jacob, J., & Lokshin, B., (2018). Corporate venture capital (CVC) investments and technological performance: Geographic diversity and the interplay with technology alliances, Journal of Business Venturing, 33(1), 20-34.
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(Article) Block, Zenas, and Oscar A. Ornati. “Compensating corporate venture managers.” Journal of Business Venturing 2.1 (1987): 41-51.
(Article) Boudreau, K. J., Lacetera, N., & Lakhani, K. R. (2011). Incentives and problem uncertainty in innovation contests: An empirical analysis. Management Science, 57(5), 843-863.
(Article) Bullinger, A. C., Neyer, A. K., Rass, M., & Moeslein, K. M. (2010). Community‐based innovation contests: Where competition meets cooperation. Creativity and Innovation Management, 19(3), 290-303.
(Article) Chemla, G., & Tinn, K. (2020). Learning through crowdfunding. Management Science, 66(5), 1783-1801.
(Article) Chemmanur, T. J., Loutskina, E., & Tian, X. (2014). Corporate venture capital, value creation, and innovation. The Review of Financial Studies, 27(8), 2434-2473.
(Article) Chesbrough, H. (2000). Designing corporate ventures in the shadow of private venture capital. California Management Review, 42(3), 31-49.
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(Article) Colombo, M. G., & Shafi, K. (2016). Swimming with sharks in Europe: When are they dangerous and what can new ventures do to defend themselves?. Strategic Management Journal, 37(11), 2307-2322.
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(Article) Füller, J., Hutter, K., & Faullant, R. (2011). Why co‐creation experience matters? Creative experience and its impact on the quantity and quality of creative contributions. R&D Management, 41(3), 259-273.
(Article) Gaba, V., & Bhattacharya, S. (2012). Aspirations, innovation, and corporate venture capital: A behavioral perspective. Strategic Entrepreneurship Journal, 6(2), 178-199.
(Article) Gans, J. S., Hsu, D. H., & Stern, S. (2002). When does start-up innovation spur the gale of creative destruction?. RAND Journal of Economics, 33(4), 571-587.
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(Article) Gompers, P., Lerner, J., & Scharfstein, D. (2005). Entrepreneurial spawning: Public corporations and the genesis of new ventures, 1986 to 1999. The Journal of Finance, 60(2), 577-614.
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(Article) Hofstetter, R., Dahl, D. W., Aryobsei, S., & Herrmann, A. (2021). Constraining Ideas: How Seeing Ideas of Others Harms Creativity in Open Innovation. Journal of Marketing Research, 58(1), 95-114.
(Article) Huang, P., & Madhavan, R. Dumb Money or Smart Money? Meta‐Analytically Unpacking Corporate Venture Capital. Strategic Entrepreneurship Journal. doi:10.1002/sej.1369
(Article) Hutter, K., Hautz, J., Füller, J., Mueller, J., & Matzler, K. (2011). Communitition: The tension between competition and collaboration in community‐based design contests. Creativity and Innovation Management, 20(1), 3-21.
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(Article) Keil, T. (2004). Building external corporate venturing capability. Journal of Management Studies, 41(5), 799-825.
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(Article) Kim, J. D. (2022). Startup acquisitions, relocation, and employee entrepreneurship. Strategic Management Journal, 43(11), 2189-2216.
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