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The innovation value chain in new technology-based firms : evidence from the U.K
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Ganotakis, Panagiotis and Love, James H. (2012) The innovation value chain in new technology-based firms : evidence from the U.K. Journal of Product Innovation Management, Volume 29 (Number 5). pp. 839-860. doi:10.1111/j.1540-5885.2012.00938.x
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Official URL: http://dx.doi.org/10.1111/j.1540-5885.2012.00938.x
Abstract
Innovation is central to the survival and growth of firms, and ultimately to the health of the economies of which they are part. A clear understanding both of the processes by which firms perform innovation and the benefits which flow from innovation in terms of productivity and growth is therefore essential. This paper demonstrates the use of a conceptual framework and modeling tool, the innovation value chain (IVC), and shows how the IVC approach helps to highlight strengths and weaknesses in the innovation performance of a key group of firms—new technology-based firms. The value of the IVC is demonstrated in showing the key interrelationships in the whole process of innovation from sourcing knowledge through product and process innovation to performance in terms of the growth and productivity outcomes of different types of innovation. The use of the IVC highlights key complementarities, such as that between internal R&D, external R&D, and other external sources of knowledge. Other important relationships are also highlighted. Skill resources matter throughout the IVC, being positively associated with external knowledge linkages and innovation success, and also having a direct influence on growth independent of the effect on innovation. A key benefit of the IVC approach is therefore its ability to highlight the roles of different factors at various stages of the knowledge–innovation–performance nexus, and to show their indirect as well as direct impact. This in turn permits both managerial and policy implications to be drawn.
| Item Type: | Journal Article | ||||
|---|---|---|---|---|---|
| Divisions: | Faculty of Social Sciences > Warwick Business School > Strategy & International Business Faculty of Social Sciences > Warwick Business School |
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| Journal or Publication Title: | Journal of Product Innovation Management | ||||
| Publisher: | John Wiley & Sons Ltd. | ||||
| ISSN: | 0737-6782 | ||||
| Official Date: | September 2012 | ||||
| Dates: |
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| Volume: | Volume 29 | ||||
| Number: | Number 5 | ||||
| Page Range: | pp. 839-860 | ||||
| DOI: | 10.1111/j.1540-5885.2012.00938.x | ||||
| Status: | Peer Reviewed | ||||
| Publication Status: | Published | ||||
| Access rights to Published version: | Restricted or Subscription Access |
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