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Strategic innovation : a review and a theoretical framework

Kataria, S. (2013) Strategic innovation : a review and a theoretical framework.

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Abstract:Surprisingly, an important topic such as strategic innovation is built by a thin body of literature. Nevertheless, the concept of strategic innovation is an important topic to be reviewed. A lot of firms are dealing with highly volatile markets and have to re-define their market strategies. Strategic innovation is a concept that provides more insights on how firms compete in these volatile markets and sustain or create new competitive advantage. This paper reviews literature on strategic innovation and its related terms; strategic entrepreneurship, strategic change and value innovation. According to (Schlegelmilch, Diamantapoulos, & Kreuz, 2003), strategic innovation is the most commonly used term in the literature for applying innovation to corporate strategy. The authors argue that the other closely related terms, despite the variety of terms and definitions, there are key commonalities in the literature, including the fundamental questioning of mental models and tacit rules (Geroski, 1998); (Gilad, 1994); (Hamel, 1996); (Hamel, 1998b); (Johne, 1992); (Kim & Mauborgne, 1999b); (Lynn, Morone, & Paulson , 1996); (Markides C. , 1997); (Markides C. , 1998); (Martinsons, 1993), the establishment of growth-visioning and creative processes to formulating strategy (Hamel, 1996); (Hamel, 1998b); (Kim & Mauborgne, 1999b) (Krinsky & Jenkins, 1997); (Martinsons, 1993), the redefinition of market space and industry boundaries (Hamel, 1996); (Johne, 1992); (Kim & Mauborgne, 1999a); (Kim & Mauborgne, 1999b), and the achievement of dramatic value for customers and high growth for companies (Krinsky & Jenkins, 1997); (Markides C. , 1999); (Seurat, 1999). Even though the quantity of literature is yet thin, it is important to review this concept at an early stage to bundle the findings and steer future research in the right direction. This systematic literature review of 137 reviewed articles proposes critiques and identifies two typologies of strategic innovation (incremental and disruptive strategic innovation) and proposes a theoretical framework of the drivers of strategic innovation and can function as a map of strategic innovation and its related concepts. From the reviewed literature, it was found that the main drivers of strategic innovation are entrepreneurial leadership, diversified Top Management Teams and deliberate learning mechanisms, so that high growth can be achieved through value pioneering and not only by technology pioneering (Lindic, Bavdaz, & Kovacic, 2012).
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:Business Administration MSc (60644)
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