final version received 28 august 2013) Social innovation discourses see in social challenges opportunities to make societies more sustainable and cohesive through inclusive practices, coproduction and proactive grassroots initiatives.
are said to recognize opportunities (Renko 2013). Zahra et al. 2009) categorize social entrepreneurs along the dimensions of ambition, resources and capacity to scale,
and exploiting opportunities, and the many contexts in which that happens (Down 2006). Entrepreneurs and their stakeholders, in the words of Sarasvathy and Venkatraman (2011), often end up co-creating new opportunities.
Co-creation may occur in business, public services and community settings (Sundin and Tillmar 2008; Amin 2009;
The development of the Internet and more particularly social networking sites opened up vast opportunities for user-led innovation that ranges from political activism (the Arab spring,
and the lack of opportunities and information to engage meaningfully in society. Advocates of social innovation argue that societal challenges offer new opportunities for economic growth.
Key growth sectors for many European economies in the coming years will be health education and social care (Mulgan et al. 2007.
the opportunity to use part of their EU Structural Funds to finance small and medium-sized enterprises (http://www. eif. org).
and reward will all shape the opportunities for social innovation to take place. Claims are prevalent that innovativeness is the main distinction of the nonprofit/third sector
Much of innovation therefore continues to depend on creative and opportunity seeking individuals. Regulation and legislation are cited often as a barrier to social innovation.
Yet new regulatory and legal frameworks can also provide opportunities and impetus for social innovation.
providing opportunities for cost savings, greater community control and the development of innovative new services and ways of funding libraries (BBC 2012).
and offer different opportunities for provision that facilitate social innovation in particular ways. Social and cultural norms will play equally a part, for example,
At the micro-level attitudes to social entrepreneurship and organizational cultures will shape opportunities for individuals
individuals'financial and personal capacity, their ability to access social capital and their willingness to take risks will influence opportunities for innovation.
The Demographic Future of Europe From Challenge to Opportunity. Brussels: European union. http://eur-lex. europa. eu/Lexuriserv/Lexuriserv. do?
Opportunities for Coproduction and Innovation. In The New Public Governance? Emerging Perspectives on Theory and Practice of Public Governance, edited by S. Osborne, 223 236.
Social networks provide participants with opportunities of finding social support, establishing new social or business contacts (Hogg & Adamic,
Social networks It is believed that innovation success is correlated positively with the opportunity to mobilize and direct resources/support to a solution from different support dimensions during the innovation process.
However, an individual's opportunity to mobilize and direct resources is a function of the strength of his/her social network.
Benefits of having a strong social network include opportunities of finding social support, establishing new social
1999) is a place where a group of people are drawn together by an opportunity to share a sense of community with like-minded strangers having common interest (Lea et al.,
and resources in the system and to provide its users with opportunities for social support, business collaboration,
and analyze contents of more complex messages for potential collaboration opportunities. For instance, a user may require 1000 sq ft. space resource
and can provide equitable decision-making opportunities to the user. In I3 several graphical representations are provided with many reports to give the administrator a different direction for analyzing data.
and provides social support to improve opportunities for innovation success. 15 B. R. Lea, W. B. Yu & P. Kannan 2007 Volume 16, Number 3 Figure 16:
and opportunities to access critical resources to support the innovation process. The communication and collaboration services in I3 enable users to develop their direct
12 2. THE SOCIAL INNOVATION OPPORTUNITY...13 A. SO WHAT IS SOCIAL INNOVATION?..13 B. HOW BIG IS THE OPPORTUNITY?..
14 C. WHAT DOES IT TAKE TO DELIVER IT?..16 I. COMPANY VISION/ETHOS...17 II.
The global mega trends that are defining the future challenges and opportunities for society as a whole.
and the city infrastructure market will provide a $2. 2 trillion opportunity in 2020. Bricks and Clicks In the US alone, on-line retail sales will rise from 4%in 2011 to 18%by 2020.
and women's empowerment will usher in new opportunities, signalling the advent of customized applications and innovative technologies.
and artificial intelligence, will open new business models and opportunities for growth. Future convergence will be defined as convergence of products (Eg. electric car
The need for sustainability and efficiency means massive innovation opportunities are opening for the deployment of smart technology for energy management.
we can quickly see huge opportunities for innovation to meet these societal challenges. In fact you could say many of these trends have been driving innovation for many years.
Eventually cities, rather than countries, will be targeted as hubs of investment with each city becoming a unique customer with untapped opportunities in key industries such as mobility.
Huge opportunities will exist for sustainable and efficient manufacturing by 2020 and beyond. III. THE FUTURE OF ENERGY Powering the global economic growth,
urbanisation and expanding populations in a sustainable manner is one of the biggest challenges and opportunities of the 21st century.
nuclear power will continue to present significant opportunities for players that can successfully address the dominant issues of safety and security.
and position themselves as partners and solution providers to cities will benefit from new business and investment opportunities.
That means defining both the opportunities for future advancement, and also the social challenges they will present.
Smart technology will create an opportunity for our growing cities to operate far more efficiently than they do today using interconnected sensors and data analytics;
We will also tackle the crucial questions surrounding the size of the Social Innovation opportunity,
& Sullivan 13 www. frost. com 2. THE SOCIAL INNOVATION OPPORTUNITY A. SO WHAT IS SOCIAL INNOVATION?
B. HOW BIG IS THE OPPORTUNITY? Many observers are reluctant to put a financial value to the Social Innovation opportunity,
which is given of course understandable the relative‘newness'of the term and the fact that different organisations address Social Innovation in different ways.
these levels of growth bring both huge opportunities and multiple challenges for society. The mega trends we discussed above will make sure of that. 1. Live Example:
Global GDP by sector, 2014 to 2020 These are massive industries with huge challenges and therefore significant innovation opportunities.
For Social Innovation to deliver on its opportunity to drive growth, transformation and societal impact in these industries,
In our research to size the global Social Innovation opportunity, Frost & Sullivan has quantified Social Innovation as accounting for around 5%of the $40 trillion that these industries contribute to GDP in 2020.
but it still presents a Social Innovation investment need of over $2 trillion in 2020 alone a significant economic opportunity from even a conservative angle.
And this is all with the backdrop of a $2 trillion Social Innovation opportunity. C. WHAT DOES IT TAKE TO DELIVER IT?
Over $2 trillion of global Social Innovation opportunity by 2020 3. Live Example: Innovative Delivery Models The Coca-cola Approach to Delivering Essential Medicine through the Colalife Project The Colalife project is an initiative
There are also many emerging opportunities for IT and mobile services (m-services) to play a role in collaboration by enabling stakeholders to work competently, effectively and efficiently, with par tners, anytime and anywhere.
Provider Opportunity for the NHS brand to use its expertise to sell services outside the UK Corporations Expansion of the private health sector to provide universal and affordable access creates opportunities for companies in India, China and other
& Sullivan 20 www. frost. com Examples of Government Initiatives in Specific Regions & Countries 3. THE AREAS THAT ARE POISED FOR GROWTH So where is need the and hence the opportunity most compelling?
and business) o There is an opportunity for technology convergence (such as digital intelligence, internet of everything and data analytics in buildings, homes, grids, water networks, hospitals, cities, factories and transport
and has created a significant opportunity for innovative solutions to support industrial growth while improving the quality of life for citizens.
we believe the future opportunities will be greatest for the companies that can bring together total solutions to address these multiple needs in a coherent, integrated manner.
High Growth Opportunity Areas for Social Innovation Opportunities will be greatest for companies that can bring together total solutions Source:
works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make orbreak today's market participants.
-Promote regional smart specialisation by aligning with the sectoral opportunities identified in the Regional Competitiveness Agenda reports developed by Forfás for each NUTS III region;
would welcome the opportunity, and is available, to meet with you to further discuss its submission and, in particular,
involving 60 hours guided experience of digital opportunities. The project, which will deliver short‘hands on'courses in core computer science for pupils aged 14-15,
and create opportunities for youth, while helping Europe to reap the benefits of the booming digital economy,
Employers also have to be better at explaining that the opportunities in ICT are attractive,
No image problem Higgins said that employers face a big challenge in communicating what sort of exciting job opportunities the industry is providing, especially since fewer people study computer science.
or when new opportunities and threats indicate a need for reinvention (Johnson et al. HBR 2008.
and growth opportunities. This approach espouses the totality of how a firm selects its customers,
In attempting to take advantage of these opportunities, enterprises and other institutions are forced to reexamine workflow
i e. employees must be shown opportunities and threats in a convincing manner and particularly the EU would achieve it aware of the need for change
and speed that bring immense opportunities for innovation, growth and jobs. They also raise challenging policy issues for public authorities
Eurostat Digital Agenda Scoreboard 2015 7 European SMES continue to miss out on the opportunities of online sales.
a missed opportunity Large companies, on the other hand, are much more active, with 35%of them selling online.
Enhanced cooperation between different actors will help to improve income sources and also the opportunities for more investment in the field
and a lack of communication and networks to spread awareness of these opportunities. Given the importance of the public sector to social innovation,
and contexts and could lead to more homogeneous data about social innovation and opportunities for social innovations in future.
opportunities/events Information and brokerage support Knowledge transfer programmes Learning forums and insight legal advice, marketing services, fis cal and accounting services, HR advice
Here too there are very low-threshold opportunities to improve social innovators'situations. One of the most pressing needs
and opportunities of using various instruments for capitalising social innovators. Glänzel G, Schmitz B, Mildenberger G. 2012.
which deliver new impacts and new opportunities through the use of different combinations of online platforms,
and business skills to exploit market opportunities to set up and grow a social enterprise (although we also know that the people in charge lack these very skills very often).
and scale is a dynamic process that requires both emergence of opportunity and deliberate agency,
At the same time technological advances in therapeutic biotech have opened up new opportunities. The big pharmaceutical companies have responded to these challenges first by pharmaceutical acquisitions to reduce costs
Investors and financial analysts can use the Scoreboard to assess investment opportunities and risks. 18 Investing in research:
in particular growth opportunities in emerging economies, while maintaining an R&d focus in the EU. Low expectations for R&d in the EU (1%p. a. in 2013-15) are due to the outlook of seven automobiles
the respondents state that knowledge-sharing and collaboration opportunities with universities and public research organisations, quality and quantity of R&d personnel in the labour market, proximity to other company sites,
Knowledge-sharing and collaboration opportunities are an important factor of country attractiveness not only for companies.
quality of R&d personnel and knowledge-sharing opportunities with universities and public organisations are stated most frequently among the top three.
the proximity factor is leading before knowledge sharing opportunities and R&d personnel. The respondents considered the US a more attractive site for R&d activity than the EU especially in terms of market size and growth,
For the EU countries, quality of R&d personnel, knowledge sharing opportunities, IPR issues and public R&d support stand out as factors for attractiveness.
while expansion to countries like China or India is a way to tap into growing growth opportunities outside the EU. 24 As observed in the 2010 and 2008 surveys,
Above average attractiveness was stated for knowledge-sharing and collaboration opportunities with universities and public research organisations, quality and quantity of R&d personnel in the labour market, proximity to other company sites,
Knowledge-sharing and collaboration opportunities are an important factor of country attractiveness not only for companies.
European commission JRC-IPTS (2013) Quality of R&d personnel and knowledge-sharing opportunities with universities and public organisations are stated most frequently among the top three factors for attractiveness in these countries (11
) average rating most attractive second most attractive third most attractive least attractive Finland (8) 3, 35 quality of R&d personnel knowledge-sharing opportunities with universities
& public organisations quantity of R&d personnel innovation demand via product market regulation Germany (46) 3, 29 quality of R&d personnel knowledge-sharing opportunities
knowledge-sharing opportunities with universities & public organisations quality of R&d personnel proximity to other company sites innovation demand via product market regulation Sweden (12
) 3, 14 quality of R&d personnel proximity to technology poles & incubators knowledge-sharing opportunities with universities & public organisations public R&d support via fiscal incentives
Austria (6) 3, 14 knowledge-sharing opportunities with universities & public organisations quality of R&d personnel proximity to technology poles & incubators innovation demand via market
(8) 3, 09 quality of R&d personnel proximity to technology poles & incubators knowledge-sharing opportunities with universities & public organisations innovation demand via market size
Belgium (7) 3, 06 quality of R&d personnel IPR enforcement conditions knowledge-sharing opportunities with universities & public organisations innovation demand via public procurement
Italy (12) 3, 00 quality of R&d personnel quantity of R&d personnel knowledge-sharing opportunities with universities & public organisations financing other (non-R&d) investments
& direct funding fiscal incentives public-private partnerships loans & guarantees financing other investments market size via product market regulation market growth via public procurement Knowledge-sharing opportunities
European commission JRC-IPTS (2013) Geographic proximity is now the leading factor before knowledge sharing opportunities and R&d personnel.
European commission JRC-IPTS (2013) For the EU countries, quality of R&d personnel, knowledge sharing opportunities, IPR issues and public R&d support stand out as factors for attractiveness.
combined for the respective activities inside and outside the EU). Comparing different outsourcing opportunities, those R&d efforts that are outsourced to companies within Europe (40.7%)are more important than those activities that are outsourced towards non-European countries (25.6%).
c1) technology poles52 and incubators53 (c2) other company sites, e g. production or sales (c3) suppliers (d) Collaboration & knowledge-sharing opportunities:(
opportunities in emerging economies, while maintaining an R&d focus in the EU. Two thirds of the European companies in the sample chose their home country as the most attractive location for R&d,
quality of R&d personnel and knowledge-sharing opportunities with universities and public organisations are stated most frequently among the top three.
geographic proximity is leading before knowledge sharing opportunities and R&d personnel. Comparing the attractiveness of the EU to the one of China and India
and opportunities for, their implementation. Indeed, one of the crosscutting themes in UNESCO's Medium Term Strategy (31 c/4) for the years 2002 to 2007 is centered around the contribution of ICTS to development and the construction of knowledge societies.
and societal challenges and opportunities of Digital Society are needed. Incremental changes to existing architectures, which are enhancing the existing Internet,
or assessed by a metric called Missed Local Opportunities (MLO). It is a measure of a degree of traffic localization.
new opportunities through forms etc. As another example, a NAT (Network Address Translator) allows an operator to support more users with a limited supply of addresses,
So commercial, not technical, considerations should determine what the right step size is it adds sufficient functionality to meet a specific business opportunity.
Without trustworthy components, the opportunities of sharing and collaboration cannot be leveraged. The chapter Engineering Secure Future Internet Services by W. Joosen et al. makes a point for establishing an engineering discipline for secure services,
and users to fully exploit the Future Internet opportunities today. While engineering and validation approaches provide a framework for the secure design of Future Internet artifacts adapted to its characteristics, the third group of Part III:
removing a major hurdle for using its exciting opportunities in sensitive scenarios of both the business and societal worlds.
and the opportunity for establishing a discipline for engineering secure Future Internet Services, typically based on research in the areas of software engineering,
and the opportunity for firmly establishing a discipline for engineering secure Future Internet Services, typically based on research in the areas of software engineering, security engineering and of service engineering.
However, the new opportunities opened by the Ios will only materialize if concepts, techniques and tools are provided to ensure security.
therefore it is not very likely that the emergence of new business opportunities and business models will fail on this 212 R. Glott et al. point.
Looking at the opportunity beyond the obstacle. Forrester research (October 2010) 18. Rajan, S. S.:Cloudsourcing vs outsourcing (2010), http://cloudcomputing. sys-con. com/node/1611752 19.
in order to identify faults or optimization opportunities (e g.,, high packet loss) according to the specified rules or Qos requirements.
in order to provide more potential options and/or opportunities for the market players involved. Europe remains an international force in advanced information
and Internet services 8. The European union (EU) is actually a potential leader in the FI sector 9. Leveraging FI technologies through their use in smart infrastructures offer the opportunity to boost European competitiveness
First Report on Business Opportunities (2009) 29. Miller, B.:The autonomic computing edge: Can you CHOP UP autonomic computing?
the detection of opportunities for ON establishment with respect to total nodes and potential radio paths should be taken into consideration as main inputs.
In Bringing Optical Networks to the Cloud 311 addition, such business model will let operators offer their infrastructures as a service to third-party entities. 3 Model In order to address the aforementioned challenges and opportunities
This creates new market opportunities for all the different actors addressing challenge#6: infrastructure providers, infrastructure operators and application providers cooperate in a business model where on-demand services are offered efficiently through the seamless provisioning of network and IT virtual resources.
and opportunities in IT-supported service provisioning. With more companies incorporating cloud based IT services as part of 1 The research leading to these results is supported partially by the European community's Seventh Framework Programme (FP7/2001-2013) under grant agreement n°216556.328 J. Butler et al. their own value chain,
SLA-aware aggregation of telecommunications services introduces a business opportunity for the agile and efficient co-creation of new service offerings and significant competitive advantages to all.
Finally, such a system can bring breakthrough opportunities in various domains such as communication industry education, culture and entertainment.
The chapter has indicated also the novel business opportunities that are created by the proposed Media-Ecosystem.
In particular, there is a need to explore the opportunities provided by Future Internet technologies in various business
and societal sectors and how these opportunities could be realized through open innovation models. One of the key developments is towards smart enterprises and collaborative enterprise networks.
and user driven innovation in large-scale real-life settings opens up a promising opportunity to enrich the experimentally-driven research approach as currently adopted in the future Internet community.
and opportunities mentioned. The first chapter Future Internet Enterprise Systems: a Flexible Architectural Approach for Innovation discusses how emerging paradigms,
In order to exploit the opportunities of services enabled by the Future Internet for smart cities, there is a need to clarify the way how living lab innovation methods,
Common, shared research and innovation resources as well as cooperation models providing access to such resources will constitute the future backbone of urban innovation environments for exploiting the opportunities provided by Future Internet technologies.
Living Labdriven innovation ecosystems may evolve to constitute the core of 4p (Public-Private-People-Partnership) ecosystems providing opportunities to citizens
Section 2 addresses challenges for cities to exploit the opportunities of the Future Internet and of Living Lab-innovation ecosystems How methodologies of Future Internet experimentation and Living Labs could constitute the innovation ecosystems of smart cities is discussed in section 3. Initial examples of such ecosystems
Future media research and technologies offer a series of solutions that might work in parallel with the Internet of things and embedded systems, providing new opportunities for content management 12,13.
& SMES) Objective Facilities to support research Impact assessment of tested solutions Support the process of user-driven innovation as co-creation In order to explore the opportunities and interfaces,
Such infrastructure also creates many opportunities for innovative services such as green services mobility services, wellbeing services,
Private and People Partnership) ecosystem that provides opportunities to users/citizens to co-create innovative scenarios based on technology platforms such as Future Internet technology environments involving large enterprises
in order to develop concrete examples of resource sharing opportunities. Initial examples of resource sharing appear in making user communities available for joint use with Future Internet facilities (e g. the TEFIS project),
New opportunities require new business models. Forrester for Ventor Strategy Professionals (2010) 15. European commission, DG INFSO:
Otherwise, a number of future Smart City services will never have an opportunity to be conceived due to the lack of the required links to the real world.
create new business opportunities and sustainably increase ICT research and innovation capability with specific objective to make urban cities/areas"smarter".
This will be very useful to open new business opportunities and, at least and not less important, provide the means to guarantee its day by day maintenance. 5 Conclusions Future Internet potential,
New Opportunities Require New Business models, 2 november 2010. Forrester research (2010) 10. EC FI-PPP: http://ec. europa. eu/information society/activities/foi/lead/fippp/index en. htm 11.
including the opportunity to socialize with other individuals who have similar interests and collaborate on content consumption.
and individuals have the opportunity to join online communities to share experiences, and explore content simultaneously.
the current markets and a perception of future market opportunities. Consistency between two major elements is decisive for a successful completion of the SMES innovation process.
because they provide an opportunity to succeed relatively much The Impact of Innovation in Romanian Small and Medium-Sized Enterprises on Economic growth Development 412 Special Issue December 2013 higher.
Second SME start-ups of"cyber-entrepreneurs",is focuses on the exploitation of opportunities offered by electronic commerce and service sectors.
Involvement in management by family members can increase innovative behavior as family members are more apt to understand challenges and opportunities that face the firm (Zahra 2005.
opportunity recognition, process/practice development, and creativity in accomplishing goals. Hypothesis 1: There is a positive relationship between innovation
Knowledge-based resources have been noted as important for a firm's innovative capacity which aids in the discovery and exploitation of opportunities (Kaya and Patton 2011.
but it is the entrepreneur who recognizes the value of the opportunity through the application of the specialist's knowledge.
and exploiting new and emerging opportunities. There appears to be a relationship between knowledge and innovation,
and exploit existing and acquired knowledge as well as develop new opportunities. Alavi and Leidner (2001) described this process as creating,
and exploiting new opportunities (Shane 2000). For this study, knowledge was not only significant in the final model,
or entrepreneur/team possess only their initial ideas about the opportunity. Through a variety of activities, including searches of networks (Dubini and Aldrich 1991),
Synthesizing this information aids in revealing the overall potential of the opportunity and provides the basis for a strategic foundation from
The sharing of information and understanding about opportunities enable firms to attract other human capital, financial investment,
Future research opportunities may exist to understand the role of innovation at varying points in time during the evolution of family firms.
and exhibit opportunity recognition and exploitation skills, three items that measured the willingness of firms to take on new opportunities
and also their willingness to adjust their business as necessary in order to exploit them. The proactive nature of firms to utilize opportunities was measured by action
and decisionmaking shown in uncertain situations. Innovation throughout an organization was examined also with regard to general business practices,
as well as to develop new opportunities (Carrillo et al. 2004; Quintas et al. 1997. Following Alavi and Leidner (2001), the knowledge variable is described as a knowledge management process,
linking resources, strategic planning and technological opportunities to performance. Journal of Management Studies, 45,26 50.
Perception, opportunity, and profit. Chicago: University of chicago Press. Kish, L. 1994. Multipopulation survey designs. International Statistical Review, 62,167 186.
Prior knowledge and the discovery of entrepreneurial opportunities. Organization Science, 11,448 469. Sharma, P. 2004.
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