Innovation Momentum, Value Creation, and the Role of the CxO
Theme: Diffusion of Innovation
This project seeks to understand how firms engaged in complex value networks, orchestrate and foster innovation while ensuring the appropriation of value created. Firms rarely innovate on their own. They operate within innovation networks including lead users, research providers, customers, suppliers and regulators. They need to create momentum to carry their innovation projects forward in these evolving ecologies of collaborating organisations. Managing momentum and strategic integration is likely to be a significant success factor contributing to competitiveness in turbulent markets when there are rapid changes in technologies. The proliferation of distributed innovation initiatives has increased the need for efficient integration because incumbents have to maintain control over and capture their share of the value created. This research probes the implications of ‘momentum’ and ‘integration’ for the role of the C-level executives. It focuses on mechanisms to successfully integrate technology, innovation and strategic planning when embedded in innovation ecosystems.
- We carried out case studies with our industrial partners focusing on ecosystem creation and the challenges of technological commercialisation. We have consequently developed models for strategies on innovation momentum.
- Using an iterative process, we have been working with senior managers working in both the technological and business development areas, to develop a theoretical framework.
- We organised 3 practitioner workshops with presentations from our focal firms. Work from this project was also presented at the European Open Innovation Forum in Denmark.
- Findings from this project have been published in academic and industry journals, and developed into teaching cases.