Why it matters: dynamic innovation management capabilities

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Megatrends such as technology disruptions, international competition and sustainability affect firms across all sectors and industries, creating new competitive and social challenges.

Fig_1_17

Industries and sectorsare also disrupted by new regulations, new customer needs and new technologies, forcing firms to reconsider the sustainability of their assets and activities.Fig_1_18

Small and large firms across sectors must place innovation among their strategic priorities if they do not want to suffer the fate of the dinosaurs.Fig_1_26

This implies developing dynamic innovation management capabilities to identify, select and capture the right innovation opportunities, in line with the firm’s ecosystem and strategy.Fig_1_19

Bibliography

Megatrends: beyond hi-tech

Keywords: ageing, artificial intelligence, China, creative destruction, digitalization, disruption, environmental innovation, globalization, green innovation, industrial revolutions, internationalization, obsolescence, sustainability, technological change, trends, VUCA, waves of innovation, wealth creation.

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  • (Video) Prof. John Bessant, University of Exeter (2020) on Managing Innovation
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Industry and sector trends

Keywords: competitive environment, corporate foresight, customer needs, disruptive technologies, emerging technologies, industry evolutions, scenarios, stakehoders expectations.

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  • (Video) Danny Hillis: Back to the future (of 1994) (TED talk)
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Innovation as a strategic priority

Keywords: growth, pioneer, sensemaking, strategic priority.

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Developing innovation management capabilities

Keywords: dynamic capabilities, corporate entrepreneurship, strategic leadership

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  • (Book) Helfat, C., Finkelstein, S., Mitchell, W., Peteraf, M., Singh, H., Teece and D., Winter, S. (2009). Dynamic capabilities: Understanding strategic change in organizations. John Wiley & Sons.
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  • (Video) Why Do Large Companies Continue to Innovate? by Kuczmarski Innovation (on Vimeo)
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  • (Article) Ambrosini, V., & Bowman, C. (2009). What are dynamic capabilities and are they a useful construct in strategic management?. International Journal of Management Reviews, 11(1), 29-49.
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  • (Article) Romijn, H., & Albaladejo, M. (2002). ‘Determinants of innovation capability in small electronics and software firms in southeast England’. Research Policy, 31, 1053-1067.
  • (Article) Rothaermel, F., & Hess, A. (2007). Building Dynamic Capabilities: Innovation Driven by Individual-, Firm-, an Network-Level Effects. Organization Science, 18, 898-921.
  • (Article) Samson, D., Gloet, M., & Prakash S. (2017). Systematic Innovation Capability; evidence from case studies and a large survey. International Journal of Innovation Management, 1750058.
  • (Article) Siguaw, J. A., Simpson, P. M., & Enz, C. A. (2006). Conceptualizing innovation orientation: A framework for study and integration of innovation research. Journal of Product Innovation Management, 23(6), 556-574.
  • (Article) Smith, M., Busi, M., Ball, P., & 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(4), 655-676.
  • (Article) Teece, D.J. (2007). Explicating dynamic capabilities: the nature and microfoundations of (sustainable) enterprise performance. Strategic Management Journal, 28(13), 1319-1350.
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  • (Article) Terziovski, M. (2010). ‘Innovation practice and its performance implications in small and medium entreprises (SMEs) in the manufacturing sector: A resource-based view’. Strategic Management Journal, 31, 892-902.
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  • (Article) Wang, C. L., & Ahmed, P. K. (2007). Dynamic capabilities: A review and research agenda. International Journal of Management Reviews, 9(1), 31-51.

(c) Prof. Benoit Gailly, Louvain School of Management

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