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How can firms in the UK be encouraged to create more value? A discussion and review paper
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Edwards, T., Battisti, Giuliana, Payne McClendon, W., Denyer, D. and Neely, A. (2004) How can firms in the UK be encouraged to create more value? A discussion and review paper. London Business School: Advanced Institute of Management Research.
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Abstract
This paper investigates how firms in the UK might be encouraged to create more value through strategic innovation. Our approach is an integrative one, drawing on both the extant literature - covering the value chain, innovation and the low skill/low quality equilibrium debate - and the two systematic reviews completed by the AIM Scholars - covering promising practices and networks. In the paper we argue that there are three basic strategies that firms can adopt to create more value through strategic innovation: Increasing efficiency and effectiveness through the adoption of better practices; Innovating to produce products or services that generate more revenue — through either higher prices or larger volumes — but realised while remaining at the same position in the value chain. Fundamentally changing position in the value chain and moving to a position where the products and services that are being delivered inherently generate more value. We contend that increased value is likely to be created if firms adopt one or more of these three strategies. However, adoption is likely to represent significant challenges to management. Such challenges are linked to the levels of firm competency and their ability to construct, acquire and communicate knowledge during the innovation and subsequent implementation process. Addressing these challenges form the basis of our policy and research implications.
| Item Type: | Report | |||||||||
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| Subjects: | H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management | |||||||||
| Divisions: | Faculty of Social Sciences > Warwick Business School > Global Energy Faculty of Social Sciences > Warwick Business School > Strategy & International Business Faculty of Social Sciences > Warwick Business School |
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| Library of Congress Subject Headings (LCSH): | Corporate profits -- Great Britain, Industrial management -- Great Britain, Technological innovations -- Great Britain | |||||||||
| Publisher: | Advanced Institute of Management Research | |||||||||
| Place of Publication: | London Business School | |||||||||
| ISBN: | 0954688511 | |||||||||
| Official Date: | 2004 | |||||||||
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| Status: | Not Peer Reviewed | |||||||||
| Publication Status: | Published | |||||||||
| Access rights to Published version: | Open Access (Creative Commons) | |||||||||
| RIOXX Funder/Project Grant: |
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