Focusing on the role of efficiency and novelty design themes, this paper examines how (a) the initial business model of a start-up, (b) the subsequent changes in the design themes and (c) the ...combinative effect of efficiency and novelty (contextual ambidexterity) impact a start-up's growth performance. The study is based on a survey involving 267 new ventures from high-tech industries. The results highlight the importance of pursuing higher efficiency over the life cycle of a start-up, although not at the moment of its establishment. In relation to business model ambidexterity, the findings highlight the different effect that contextual ambidexterity can have on the growth performance of a start-up firm in different stages of its life cycle. While initial ambidexterity is found to have a negative effect on growth performance, successive increases in the level of ambidexterity have a positive influence on growth.
This paper presents the findings of a longitudinal study of a large corporation's transition to a new business model in the face of a major transformation in the ICT industry brought about by Cloud ...computing. We build theory on the process of business model innovation through a qualitative study that investigates how an established firm organizes for an emerging business model. Contrary to previous findings that presented spatial separation as the optimal structural approach for dealing with two competing business models, our findings indicate a need for recursive iterations between different modes of separated and integrated structures in line with the emergent nature of strategic intent toward the new business models. Our analyses reveal strategy formation to be a collective experimental learning process revolving around a number of alternative strategic intentions ranging from incremental evolution and transformation to complete replacement of the existing business model. Given the fundamental differences in the nature and requirements of those alternative intents, iterations between different structural modes and differing combinations proved to be crucial in enabling the organization to make transition to the new business model.
We study the investment patterns of different types of venture capital (VC) investors in Europe: independent VC, corporate VC, bank-affiliated VC and governmental VC. We rely on a unique dataset that ...covers 1663 first VC investments made by 846 investors in 737 young high-tech entrepreneurial ventures in seven European countries. We compare the relative specialization indices of the different VC investor types across several dimensions that characterize investee companies: industry, age, size, stage of development, distance from the investor and country. Our findings indicate that VC investor types in Europe differ substantially in their investment patterns when compared to one another and that, in terms of investment patterns, governmental VC investors appear to be the most distinct type of VC investor. The investment patterns of different VC investors are stable over time and similar across different European countries. Finally, the investment patterns of the different VC investor types in Europe are significantly different from those observed in the USA.
High‐tech organizations maintain a portfolio of R&D projects that address problems with different levels of complexity. These projects use different strategies to search for technological solutions. ...Projects refining existing products, processes, and technologies, for instance, employ a local search strategy to improve performance, while projects developing new products, processes, and technologies employ a distant search strategy. However, projects can shift in their levels of complexity due to exogenous technological changes, and failure to change search strategy in turn can negatively impact project performance. This study first develops grounded theory via case studies to understand how high‐tech organizations manage R&D projects when complexity shifts. The case data come from 142 informants in 12 R&D projects at three high‐tech business units. A cross‐case comparison shows that three interconnected mechanisms positioned at multiple levels within the organization enable high‐tech organizations to identify such shifts and adjust the project's search. We refer to this strategy as responsive search. We then conduct agent‐based simulation experiments to examine the conditions under which the responsive search outperforms other canonical search strategies. Overall, this study sheds light on the underexplored question of how to make mid‐project corrections by effectively identifying and managing shifts in project complexity.
FISH OUT OF WATER TRACEY, PAUL; DALPIAZ, ELENA; PHILLIPS, NELSON
Academy of Management journal,
10/2018, Letnik:
61, Številka:
5
Journal Article
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We draw on institutional theory to study a common type of new venture creation that has been neglected in the literature: the translation of an existing organizational form from a different—and ...misaligned—institutional context. To do so, we conducted an in-depth case study of H-Farm, an Italian venture that was founded as a business incubator, a type of organization that first emerged in Silicon Valley and other U.S. technology regions. Our study illuminates the specific configuration of legitimacy pressures inherent in this type of entrepreneurship, and theorizes the strategies that entrepreneurs can enact to address them: local authentication work, category authentication work, and dual optimal distinctiveness work. We also show that the legitimacy pressures experienced by entrepreneurs may vary significantly as ventures mature, and challenge the notion of a specific “legitimacy threshold” that new ventures are required to reach. Finally, our model conceptualizes translation as an iterative, dynamic, and ongoing accomplishment rather than a “one off” activity with clear beginning and end points.
In the context of increased competition in the world market with the use of all possible tools, including exclusive intellectual property (IP) rights, the issue of patent analysis as its reflection ...becomes actualized. To this end, the indicators of patent activity are measured in the context of larger patent applicants and the most dynamically developing technological areas. As a result of the study, the main conclusions are made as follows: – there is an active concentration of exclusive IP rights in the patent portfolios of technology leaders carried out around the world, as evidenced by the growth of patent activity for the third year in a row (+5.5% in 2022 compared to 2020); – new heights of patenting (3.46 million applications) were achieved thanks to the Asian region (70% in 2022), with Chinese innovators as the most significant (47%) and Indian innovators as the most dynamic (+36% compared to 2020); – the main competitors in the struggle for promising markets and the patent field are China and the United States, although the latter and a few others (-1%) have lost their positions; – due to the high level of patenting, including international patenting, China is a major user of the PCT system (70015). The 2022 ranking also includes the United States (59056), Japan (50345), South Korea (22012), six European countries, among which Germany is leading (17530); – the active patent position of the leading Asian countries (China, Japan, South Korea) allowed to increase the total share of PCT applications to 51% in 2022 from 28% in 2013, to ensure the majority (8) of their companies are in the top 10 business leaders; – the dominance of business in the structure of patenting is a global trend (88% of PCT applications in 2022), since it is the production that needs patents; – the top ten technology areas recorded growth, the most dynamic growth in computing (+92%), digital communications (+83%), and biotechnology (+69%); – in contrast to global trends, patenting by residents of Ukraine, both inland and abroad, is consistently negative, as evidenced by its low level (1080), negative (-69%) dynamics, the dominance of individuals (> 80%) among applicants unable to compete with corporations, a small number (20.9) of patent applications per million inhabitants, a meager share of PCT applications, which is rapidly heading towards zero (up to 0.03% in 2022 from 0.14% in 2013). Taking into account the extremely negative assessments for Ukraine, the need for a technological breakthrough as a prerequisite for achieving the success of the country and national companies in the struggle for promising markets and maintaining control over the domestic market is emphasized.
This article examines the characteristics and performance of cross‐border mergers and acquisitions (M&As) conducted by Chinese firms in the high‐tech industries. Multiple measures of firm performance ...were used in exploring the profitability and innovativeness of both the acquiring and target firms. With 1,340 cross‐border M&As completed between 1990 and 2014, the major characteristics of these deals (e.g., industries of acquiring firms, countries of target firms, and the level of ownership) were identified. In terms of the performance of acquiring and target firms, the value creation hypothesis was supported by the innovation measure; however, it was not supported by accounting‐based measures. The implications of this study and directions for future research are thus discussed.
Knowledge sharing is considered an important promotor of new product development (NPD) performance. However, studies have shown that making experts share knowledge in new product development (NPD) ...projects is often a challenging task. Consequently, this topic has attracted substantial attention in academic research. However, although studies have produced valuable insights, more detailed accounts of the mechanisms shaping knowledge sharing processes in NPD projects are sparse. To add to the knowledge on this topic, this study conducts a series of interviews with NPD professionals at manufacturers of high-tech industrial products to identify 'factors influencing knowledge sharing' (FIKS). The identified FIKS are explained through the socio-physiological theory, the 'reasoned action approach' (RAA). This involves several contributions. First, the study provides a detailed explanation of the role of FIKS by describing how they affect the behaviour of knowledge providers and receivers in NPD processes. Second, by identifying 161 FIKS in NPD processes, organised under 18 categories, the study offers the so far most extensive account of FIKS in NPD processes. Third, the findings suggest a special characteristic of knowledge sharing in NPD contexts concerning the relatively high importance of knowledge receiver behaviour.
ABSTRACT
Digital technology is fundamental to experimentation, learning, and the rate of innovation. Digital technology facilitates the rapid distribution of experimental design and debug ...information. However, we should consider how this fundamentally changes organizational learning and experimentation when managing the rate of product innovation. We address this issue by investigating what drives experimentation‐based learning in high‐tech product innovation and production. The longitudinal dataset in our study consists of 216 projects over a period of almost 5 years, involving thousands of digitally recorded design iterations and design debugs. Based on a time series linear regression analysis, we demonstrate that learning from an accumulation of completed projects drives learning in experimentation more than failure experience in successfully completed design debugs. Furthermore, we show that processing iterations and debugs rapidly enhances the speed of product innovation learning as this allows for short‐loop experimentation that restricts superstitious learning when conditions change over time. The results also show this can be achieved using digital tools as a source of agility.
Introduction. The competitiveness of industry in modern conditions is carried out through scientific and technological development. High-tech companies play a key role in solving the main tasks of ...increasing the competitiveness of Russian economy in accordance with global challenges and priorities of Russia’s scientific and technological development. Theoretical analysis. High-tech production, Industry 4.0 technologies and technological entrepreneurship in modern economy are the main actors in achieving technological sovereignty, the transition to economic growth and technological support for the sustainable development of Russian production systems. The article examines the role of technological entrepreneurship in the transition of industrial enterprises to Industry 4.0 technologies. Empirical analysis. An innovative development dynamics analysis in Russia and foreign countries is carried out, a startup studio is considered as a tool for the development of technological entrepreneurship, as well as the practice of its implementation in Russia and the USA. Results. Based on the results of the study, a number of proposals for the development of technological entrepreneurship in the small and medium-sized enterprise industry sector were formulated and justified.
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