Synopsis:
Entrepreneurship: Opportunity:
(Focus) Eunika Mercier-Laurent-The Innovation Biosphere_ Planet and Brains in the Digital Era-Wiley-ISTE (2015).pdf
Let us use that opportunity better, Foreword xiii interlinking bottom-up approaches with the target to find pan-European solutions and concepts.
the market is global, full of competitors and opportunities. This situation requires the overall innovation. The environmental impact of innovation is taken not really into account from the beginning, except perhaps eco-innovation projects.
and later the Internet, shortened distances between places and people, created new opportunities for businesses,
The Internet and Web 2. 0 services may have created a lot of opportunities, but they have opened also a highway for cyber-criminality.
push productivity and lead to new opportunities for EU citizens and businesses ICT 13. Pushed by students, on the one hand,
They have seized a great opportunity to use local abundant 100%renewable geothermal and hydro energy infrastructure
The main goal of intelligent matching is to save us time and gain opportunities. Smartphones and future devices embedded with machine-learning techniques will learn from real-time Innovation Landscape and Fields 21 interactions with the user and not from navigation (too many errors) or a published profile only.
if abuses or misuse of these new opportunities is done. Nowadays, biotechnology plays an important role in the field of health care and in the innovative industrial processes.
European programs encourage mobility through various opportunities such as Erasmus students, Phd and scientific exchange (Marie Curie Actions17.
services or methods but also to capture new opportunities and new ideas. Figure 2. 3. e-co-innovation process 60 The Innovation Biosphere Innovation is seen here as a perpetuum mobile
used to capture opportunities and work in collaboration based on complementarity. Today, companies must innovate not only to survive
Innovation Ecosystems 71 real-time knowledge of challenges and opportunities; knowledge of the market, of competitors, of possible alliances;
Human Ressources Manager Managing human resources, training and layoff Talent miner and optimizer, manager of the Intellectual Capital Marketing Manager Market study and customer relation Opportunity
image, creation of joint ventures to extend the initial market, rate of new products and services per year, environmental impact, participation of stakeholders, real-time learning, collaborative watch and opportunity hunting, financial
The unemployed young people are given opportunities for personal and professional development in a partner country.
direct placement in one of the partner companies or coaching to establish a company of their own in their respective home countries to further create opportunities for employment in their country of origin.
While such opportunities are offered mainly to 18 25 years old, the other age brackets are concerned also (25 40) those in between the young and the seniors.
but an opportunity for offering new, or bringing back old, services, such as a social link through a postman,
but VC is considered as a starting point, an opportunity finder and business developer. Such an approach is applied for spreading the American technology in Europe;
It made it clear that this problem should be addressed using an overall approach communities needed to be provided with greater educational opportunities for the island's youth to ensure that young adults were qualified for the new jobs that ought to be there (rather than training young people for the existing job market),
Openfutures10, a 2-year long international research project funded by the 7fp of the EC provided an opportunity to a group of 13 organizations (FCS,
Based on the specific opportunities that the center identifies, other business models can be applied. Each FC has a unique lifecycle from the initial idea of launching an FC to its ongoing operation/transformation (and in some cases
The H2020 opened the opportunity for more social and service innovation and introduced a social innovation as crowdfunding the applicants are encouraged to find complementary private funds to succeed with their projects.
developers and influential individuals fostering brand neutral cooperation and cross-border peer to peer (P2p) business opportunities through live networking events to demo products,
The opportunity is given to start-ups and small companies to present their offers, mainly products, expecting to find clients, funding or alliance.
They explore opportunities (twisting around a branch) BAL 05. Plants have the ability to protect themselves from dangers (their leaves being eaten) by generating gas
It opens a great opportunity for game designers, but who will sponsor such games? Living in permanent stress and searching for well-being and happiness, we need to reconsider our professional and living conditions.
ANR 14 AGENCE NATIONALE DE RECHERCHE, http://www. agence-nationalerecherche. fr/en/funding-opportunities/major-societal-challenges/
(Management for Professionals) Jan vom Brocke, Theresa Schmiedel (eds.)-BPM - Driving Innovation in a Digital World-Springer International Publishing (2015).pdf
We would like to express our gratitude for having had the opportunity to host the 2nd European BPM Round table in Liechtenstein
, the conversion of emerging insights, opportunities, and creative designs into new products, services, processes, or entire new business models.
Consequently, the BPM body of knowledge is need in desperate to be complemented by a more opportunity-driven, proactive approach to process design.
such an opportunity-driven approach answers questions such as In which of our processes do Google glasses create substantial gains?
and to capitalize on new digital process design opportunities, is called Ambidextrous BPM. Ambidextrous BPM demands two different types of capabilities, i e.,
, the continuation of the exploitative strength of traditional BPM needs to be combined with the explorative potential of a designintensive approach sensing external opportunities and converting these quickly into improved processes.
and opportunities of the digital age now require making transformational processes the focus of our investigations.
Using Digital Opportunities to Drive Organizational Innovation...129 Jan Recker Enabling Process Innovation via Deviance Mining and Predictive Monitoring...
On the one hand, we identify opportunities of BPM as a driver of innovation that institutionalizes digital technologies in business processes.
On the other hand, we also recognize opportunities to, in turn, innovate BPM. Overall, we identify both opportunities and challenges of BPM when it comes to innovation in the digital age.
Based on these insights we provide an outlook on the chapters of this book which may guide both the research
as an opportunity that ultimately allows fostering the success of organizations. Over the last couple of decades, research
At the same time, it is obvious that the mere technological action opportunities will not result in value creating innovations right away.
and BPM plays a key role in leveraging the manifold opportunities. In the next section, we further examine the role of BPM in driving such innovations. 8 T. Schmiedel and J. vom Brocke 5 The New Role of BPM Considering BPM as a source of innovation
The digital age offers manifold opportunities to innovate business processes. In order to do so, it will be important to first identify value-creating potentials (vom Brocke, Debortoli, et al.
and enforcer in organizational innovations and illustrates this by the opportunities of cloud computing for the integration of enterprise systems in process innovations.
Using Digital Opportunities to Drive Organizational Innovation. He illustrates how digital capabilities enable organizations to innovate based on facts rather than fiction
Using digital opportunities to drive organizational innovation. In J. vom Brocke & T. Schmiedel (Eds.
and delivery The virtual business Virtual business connects the best global competences in virtual networks in order to quickly and effectively exploit more business opportunities and pool its resources of business creation, innovation, distribution,
and operations are controlled to mitigate the impact Compliance Performance Zero-incident EH&S is part of the performance culture Tactical Strategic Requirements become opportunities,
and presents valuable insights into improvement and innovation opportunities that are afforded not by any single perspective. 5. 3 Conclusions This paper argues that business models,
Therefore we investigate the opportunities for BPM. SM, especially web-based, represent a communication tool of choice for many organizations the powerful
The challenges and opportunities of social media. Business Horizons, 53 (1), 59 68. Kemsley, S. 2010.
Innovation initiatives must relate to latest technological developments and opportunities these offer. The important role of enterprise systems in process innovation is neglected in many of these initiatives.
The ambiguity of opportunities offered by new technology is illustrated by the example of the cloud computing paradigm.
Therefore, every new software release is an opportunity for process innovation in an organization and a challenge to take maximum advantage of this opportunity. 2 Different Roles of Enterprise Systems in Process Innovation The following section describes the main roles that an enterprise system can have in a process innovation scenario.
These roles relate to the heterogeneous application landscape that makes up such a system. Changes in applications and integration of new technologies lead to opportunities for process innovation.
An innovation scenario besides other components consists of a trigger (operant resource) and an enabler (operand resource) for innovation (Nambisan
The new opportunities offered by the enterprise system lead to a redesign of processes and creates an increased value contribution.
and ambiguous opportunities an organization is confronted with when considering the implementation of a new technology.
driven by the new opportunities offered by technology in other cases. It is therefore of paramount importance to take a closer look at the details of the cloud computing model and especially its service models.
when considering the opportunities and consequences of cloud computing for an enterprise, the service and deployment models as given in Fig. 1 should receive more attention.
To exemplarily illustrate the range of opportunities service models do offer, the implications of different service model/delivery model combinations for large enterprises (LE) and small and medium sized enterprises (SME) have been outlined based on experiences from several implementation projects.
The indications illustrated in Fig. 2 are a first evaluation of opportunities for companies of different sizes.
Fig. 2 Opportunities of different service model/delivery model combinations with relation to company size The Role of Enterprise Systems in Process Innovation 81 4 Openness of Enterprise
and distributed to a large portion of the population a fact that opens up opportunities for developing a range of disruptive technologies.
Using Digital Opportunities to Drive Organizational Innovation Jan Recker Abstract Process improvement and innovation are risky endeavors, like swimming in unknown waters.
and share a number of key takeaway lessons for how organizations can innovate on the basis of digital opportunities and principles of evidence-based BPM:
and I will try to illustrate how organizations can innovate on the basis of digital opportunities,
Using Digital Opportunities to...131 3 Evidence-Based Management Innovations are essentially complex decision-making problems made under uncertain conditions.
Using Digital Opportunities to...133 innovation decisions are noted as above, complex problems under uncertainty and typically concern high risks of failure, potential lack of return on investment or even disruption or failure of entire business models (Lucas
and prototypes and to explore opportunities for which organizations often do not have the resource or time.
Using Digital Opportunities to...135 5 Digital Opportunities for Innovation and Evidence-Based Management Digital infrastructures play a major role in enabling the use of evidence-based management decisions in process innovation.
This is because they allow analysts and managers alike to readily and effectively access and gather objective data that can be used as facts in innovation decisions.
These digital infrastructures provide ample opportunities for evidence-based management in process innovation. Some of their affordances include:
the opportunity to scale up the sheer quantity of available observations, facts et al. Traditionally, fact finding in support of decision-making in the context of BPM methodologies such as Six Sigma and others has always been hampered by sheer pragmatic concerns about the feasibility, resourcing and costing of data collection efforts.
In turn, the opportunity also serves as a warning sign: It is no longer acceptable not to peruse available data and evidence in making process-related decisions.
Using Digital Opportunities to...137 Positive deviance reverses this paradigm, and shifts process innovation thinking from fixing errors to rewarding
thus an opportunity to increase the performance of all other processes towards the level of the positive deviant process instead of fixing a negative deviant
Using Digital Opportunities to...139 Process personnel is a root cause of deviance, in that creative staff were finding new solutions for products, display and service,
Using Digital Opportunities to...141 this case the optimal solution to the replenishment process problem was indeed a little bit of both with Research-as-a-Service providing evidence required to understand what a little bit actually means. 7 Conclusions Evidence is key to making well-informed decisions.
and I reviewed digital opportunities for creating and using evidence in making decisions about processes.
Two examples were given as illustrations of how process innovation projects can benefit from the availability of evidence derived through digital opportunities.
In order to capitalize on these digital opportunities, data scientists are becoming an essential resource in developing a capability to identify,
Opportunities and barriers. Long Range Planning, 43 (2 3), 354 363. Clinebell, S. K, . & Clinebell, J. M. 2008).
Using Digital Opportunities to...143 Enabling Process Innovation via Deviance Mining and Predictive Monitoring Marlon Dumas and Fabrizio Maria Maggi Abstract A longstanding challenge in the field of business process management
but in any case its purpose is to enable the analyst to identify process improvement opportunities. Predictive monitoring on the other hand produces recommendations for process workers during the execution of a case.
An increased connectivity for enhanced collaboration could be met by digital innovations that bring new values and opportunities for existing and new actor participation in the ecosystem see also chapter by Schmiedel and vom Brocke (2015.
Instead, it is the beneficiaries (such as e g. the passengers/patients) themselves who are responsible for arranging the process based on the opportunities (and constraints) and possible process variants of a particular flow.
Allee (2000, p. 439) claims Value network analysis provides an opportunity to overcome the‘split'in business management practices where human interactions
Taking the own car to the airport requires information about possible parking opportunities. Some parking lots can be booked pre via the airport website.
Between security and boarding there are various opportunities for discretionary activities (such as shopping, dining, visiting a lounge, etc.).
These opportunities are managed by numerous organizations and contribute to the airport income. Balancing between actions to enable different types of income is a great challenge for airports,
which is why it has become important to offer attractive opportunities for passengers to spend valuable time at the airport.
most organizations cannot exploit the opportunities given by information technology to solve these issues see also chapter by Schmiedel and vom Brocke (2015).
But new technologies delivery opportunities for making strategies go digital, offering much more automation opportunities for making employees aware of their role in the company's strategy.
We define strategy awareness as an information system's capacity to influence users to work towards the strategic priorities of the organization.
For realizing the opportunities for both business process and compliance management, it becomes obvious that both have to work together and, in practice, Flexible Workflows and Compliance:
but also offers new opportunities for other domains to use Wfms that are dependent on flexibility and on achieving multiple goals, e g.,
Exploiting these opportunities provided by BPM in the long run can be expected to drive innovation further in our digital world.
/)This approach involves several opportunities for an organization, like more innovative insights from the external environment
As the opportunities for more efficiency and effectiveness change over time, we can see that, in practice,
1) workshops between business and IT for gathering requirements regarding new processes or eliciting improvement opportunities,
(because digital innovations generally aim at increasing business performance by taking advantage of opportunities), as well as (3) the use of a process architecture or hierarchy of layered process models to help orient (new) employees or estimate the impact of risks and changes.
opportunities and threats of certain business situations that require innovation). Besides these nontechnical values for digital innovations, the activities of a process competence center (called Center of Excellence) can be seen as more technical by methodologically supporting the previous process capabilities.
they are likely to miss out on a wider perspective on business opportunities to create innovation through IT.
194,206, 295 Digital opportunities, 13,129 142 Digital world, 3, 4, 12 14,59, 69,78, 81,83, 136,155 172,177 189,232, 257 Disciplinary responsibility
02_Clusters are Individuals- Volume II.pdf
and the identification of potential business opportunities NORWAY Norwegian Centres of Expertise (NCE) To facilitate growth by generating
and brokerage events o Identifying new business and market opportunities worldwide o Facilitating participation in EU projects.
10_MOD_Innovation in Romanian SMEs - revised february 2013.pdf
The inward orientation tendency might be explained by the decrease in demand and, lately, in business opportunities,
2008 Innovation in Ireland.pdf
The Statement also explores opportunities where innovation can be exploited better. We have identified ten key policy areas that underpin the Government's approach to innovation in support of the knowledge economy and enterprise.
The establishment of SFI Centres for Science, Engineering and Technology with the aim of significantly advancing knowledge and exploiting opportunities for discovery
work with the researchers to identify commercial opportunities negotiate with enterprises, and protect and manage intellectual property.
The provision of Innovation Vouchers that enable businesses to collaborate with higher education‘knowledge providers'to obtain an innovative solution to an enterprise need these vouchers offer SMES the opportunity to forge new relationships with higher education institutions and, ultimately,
and sustaining training opportunities. The current Social Partnership Agreement, Towards 2016, recognises this need, from both an economic and a social perspective.
Adult and Further Education Programmes are targeted at providing second-chance education opportunities and training designed for early school leavers
The National Training Fund will provide opportunities for people already in employment to be given improved access to training,
opportunities to develop new skills, acquire recognised qualifications and continually progress to higher-level qualifications. Lifelong learning and the National Skills Strategy Skills Development Innovation in Ireland 2008 12 The Minister of state with special responsibility for lifelong learning
and in particular, the European Social Fund (ESF), has presented always opportunities to pilot innovative approaches to upskilling, training and new employment areas.
It is important that we continue to exploit opportunities for capturing good practices as developed by such pilot projects.
and we will exploit opportunities for imaginative procurement practices that promote innovation in the enterprise sector
Selling to the public sector is an opportunity for firms especially SMES, to demonstrate their capabilities,
We are refining policies and supports in line with both the opportunities that services innovation offers,
Creating opportunities for innovation The focus of innovation has traditionally been on the manufacturing industry.
they also offer significant opportunities for innovative products and services in a range of sectors.
Forfás and Intertradeireland are currently conducting an all-island study of the sector to identify opportunities for existing firms and potential entrants,
using mentoring and networking opportunities through the Women in Business initiative. They have also been very successful in attracting women to participate in training programmes, such as Start your Own Business courses and Management Development Programmes.
and economic growth The State agencies are working to maximise the opportunities presented by this new pool of talent,
The Workplace Innovation Fund is a unique opportunity for SMES to receive financial support for projects seeking to develop partnership and participation within the workplace leading to productivity improvements, improved performance and employee well-being.
2010 OECD SME Entrepreneurship and Innovation Report.pdf
In the short to medium term there is a real opportunity for governments to use policies for entrepreneurship
innovation and social policy who could better realise their goals by adopting strategies that are more aware of and sensitive to the needs and opportunities of SMES and entrepreneurship.
and exploit the commercial opportunities emerging from technological, competitive and market changes. Furthermore, economies of scale in research and development are no longer the barriers they once were to small firm participation in innovation.
But there are also some differences in opportunities and constraints. Social enterprises may have greater problems accessing capital markets, for example,
They disrupt markets, leading to long-run evolutionary growth in the economy. l The entrepreneur as an opportunity identifier.
Kirzner (1973,1997) stressed the role of entrepreneurs as discoverers and early exploiters of previously-unnoticed profit opportunities.
They gain temporary monopolies until the attention that they draw to the opportunity leads to competitor entry,
Innovation occurs as entrepreneurs discover new opportunities. But as opposed to Schumpeter's view of the entrepreneur as a disruptor of markets and instigator of evolutionary economic development
Here the entrepreneur is seen as facilitating economic adjustment by predicting where new profit opportunities will open up
discovering opportunities, taking risks, shifting resources and creating breakthrough innovations and these roles moreover are not mutually exclusive.
This illustrates a timely opportunity for well-designed policies to achieve two objectives at the same time: the creation of jobs in SMES in response to an aggregate demand stimulus or targeted employment
This includes small business management skills (such as business planning and accounting), strategic skills (such as decision-making and opportunity recognition),
2011 Missing an Open Goal_UK public policy and open innovation.pdf
Opportunities which are too distant are hard to align with existing expertise and practice. This means that the effectiveness of openness is contingent on the resource endowments of the partnering organisations.
While for some the changes are likely to represent a flowering of opportunities for inserting themselves into new innovation value chains,
they may have access to opportunities denied them as mere‘suppliers'or‘customers'of a large firm.
potentially boosts the exit opportunities for owners of SMES. If large corporations are increasingly looking,
To manage intellectual property opportunities and deals requires skills in IP valuation, access to opportunities,
and capabilities in deal structuring areas where most SMES are inexperienced. Access to financial support for such deals through investment banking is geared often towards large firms, with advice costs unsupportable by small firms.
Becoming part of the open innovation value chain of a large corporation offers opportunities otherwise out of reach, but potentially also opens them up to exploitation,
as expected, these locations will present the most dynamic markets and the greatest opportunities for commercialisation,
Interpreted in the context of Figures 1 (closed) and 2 (open) in Chapter 2 represents a positive opportunity for a multinational company to exploit ideas
In this sense open innovation is a great 21 opportunity since it will support greater knowledge flows.
I. 2011) Digital Opportunity: A review of Intellectual Property and Growth, London, the Intellectual Property Office, http://www. ipo. gov. uk/ipreview. htm 29 Andersen, B. 2011)‘ Think Big!'
I. 2011) Digital Opportunity: A review of Intellectual Property and Growth, London, the Intellectual Property Office, http://www. ipo. gov. uk/ipreview. htm Herstad, Sverre J.,Bloch, Carter
2012 Evaluation_of_Enterprise_Supports_for_Start-Ups_and_Entrepreneurship-Publication.pdf
and improve the reach of the supports by targeting specific opportunities such as greater emphasis on scalability,
or one-to-one basis. The programme covers specific idea/opportunity evaluation and encourages participants to assess their idea in terms of value proposition,
A particular benefit of the programme is that participants have the opportunity to network and share ideas and issues with the other early stage entrepreneurs on the programme. 6. 4 Alignment with National Policy This evaluation focuses on impact achieved over the 2009-2010,
&/or graduate Participant proposals should have a significant market opportunity, particularly in international markets Knowledge base business with some potential for intellectual property ownership (even if this ownership is not yet formalised) A realistic potential for substantial growth to a minimum turnover of €1 million within 3 years
growth opportunities etc, Structured networking, Brainstorming sessions, Information sessions enterprise and research supports etc. Outcomes & Impacts Increased awareness among participants of:
Market opportunities; and Available supports. Increased numbers of innovative collaborations between companies, entrepreneurs and academics.
and enterprise base in the region as well as emerging business opportunity areas, such as converging technologies and consumer foods.
A model of the entrepreneurial opportunity recognition process. Journal of Enterprising Culture, 8, 103-119.84 The programme fits with Enterprise Ireland's stated corporate strategy that the development of innovative products
Presentations by industry experts on commercialisation strategies, growth opportunities etc; Structured networking; Brainstorming sessions; and Information sessions enterprise and research supports etc.
and high-growth opportunities within the sector and gives detail of relevant research and enterprise supports.
and a number of Irish entrepreneurs are looking for next generation business opportunities. In many instances
generate ideas and identify opportunities for collaboration informed by opportunities and trends in the particular sector.
The fund invests in new opportunities during its first five years the investment period and,
The international environment for the industry remained challenging in 2010 with opportunities for company exits through trade sales
when lower valuations are presenting attractive investment opportunities. However, these funds will be committed fully by 2012 and Irish VC firms will need then to raise fresh capital
000 per annum related to the cost of providing soft support services to clients through activities such as answering queries and evaluating seed & venture capital opportunities.
and the opportunities to network with other entrepreneurs. In that regard, while there may be further efficiencies possible in terms of delivery FORFÁS EVALUATION OF ENTERPRISE SUPPORTS FOR START-UPS & ENTREPRENEURSHIP 145 of services,
Sectoral Opportunities and Policy Issues Forfás July 2013 Ireland's Construction Sector: Outlook and Strategic Plan to 2015 Forfás July 2013 Forfás Annual Report 2012 Forfás July 2013 156 Research Prioritisation:
2012 Flanders DC Open Innovation in SMEs.pdf
challenges and opportunities for the DC-regions, Isabelle De Voldere, Eva Janssens, Jonas Onkelinx and Leo Sleuwaegen, April 2006, Published in English Spelers uit de televisiesector getuigen:
February 2010, published in Dutch 6 Identifying opportunities in clean technologies, Jan Lepoutre, April 2010, published in English The Legitimation Strategies of Internationalizing Flemish SMES and their Subsidiaries, Christopher Voisey, Jonas Onkelinx, Leo Sleuwaegen, Reinout Buysse,
Instead, small-and medium-sized companies engage in open innovation as a consequence of their search for major changes in their business model to seize new business opportunities and boost profitability.
11 open innovation creates new business opportunities for SMES because they can develop business model innovations without having the required technologies in-house.
SMES have limited financial means to seize new business opportunities. Accordingly, they may have to work in several consecutive steps,
and broader innovation networks to seize new business opportunities. Setting up and managing innovation partnerships for most SMES is a new challenge.
In this case, we examine how both parties can negotiate a deal that provides each with ample opportunities to benefit from the new technology.
or capitalize on new growth opportunities beyond their existing business. As the burgeoning management literature on business model innovation has shown during the last decade,
SMES can take different approaches to reshaping offerings and seizing new growth opportunities. A business model defines the way companies deliver value to a set of customers at a profit.
White space represents the business opportunities outside a company's current businesses that require a different business model to exploit.
Large companies may detect new business opportunities by carefully analysing market trends, spotting new technologies with promising applications, and so on.
Small companies do not have required the resources in-house to analyse new growth opportunities systematically.
Despite their conviction that providing healthy sleep was a useful way to discover a new business opportunity,
that is, early experiments and choices shape the trajectory for to evolve the business mode further. 19 New opportunities will be discovered each time the company achieves a new step in realizing its business model. 19 Figure 1:
visitors would like more opportunities to assist the patient and an infrastructure that allows them to stay in the patient's neighbourhood.
thus important to identify entrepreneurial opportunities for small companies. Likewise the emergence of new technologies and disruptive technological developments offer similar opportunities for small firms.
Many venture capital-backed high-tech ventures have been established to explore business opportunities that can be exploited based on a new applications of technologies.
Isobionics is one of those start-ups that have the potential to change competitive dynamics in a traditional industry such as the flavour and fragrances market.
New technologies thus offer opportunities for small firms even in the so-called low-tech industry such as textiles
thus a moving target that requires the small firm to migrate from one technological opportunity to another.
In other cases, regulations may open new opportunities for small business, endangering the position of large established firms.
New technologies also provide opportunities for small companies. New technologies often find their first applications at the edge of markets or in niche markets
and offer great opportunities for SMES to pursue embryonic markets that are too small to attract large firms.
therefore, developing technology based business opportunities should no longer be limited to university and corporate spin-offs. Start-ups can use their organizational agility, application know-how,
Growing concerns for sustainability and health impact are long term trends that offer great business opportunities for innovative SMES. o New technologies who have the potential to disrupt incumbents in an industry are an interesting business driver for high-tech start-ups.
and therefor offer opportunities for SMES to pursue embryonic markets that are too small to attract large companies. o SMES have greater capability to specialize than large firms to offer customized service to customers. o Small companies may offer completely new
Switching to a new business model creates opportunities to change it again for a second or a third time.
It is a path-dependent process in that opportunities to change the business model into a more profitable model can only be detected after the previous business model has materialized fully.
Curana and its innovation partners started from a vision based on new opportunities derived from global trends,
New opportunities to create and capture value are discovered step-by-step, and each previous step is necessary to move to the next.
however, offered several other technical advantages that were translated slowly into new business opportunities. First, mercury barometers have a minimum length of 90 cm to be effective,
The new possibilities the Airfryer and its Rapid Air Technology present only emerged after customers started to use the device and when other players in the market, such as snack producers, envisioned new market opportunities.
The innovation and design capabilities these companies built over time gave them definite opportunities to diversify into other markets.
it becomes an additional asset in for developing new business opportunities. Today, Jan Kriekels has a worldwide reputation as a thinker and evangelist of the cradle-to-cradle philosophy.
because new opportunities to transform the business model into being more profitable can only be detected after the previous business model has materialized fully.
small firms are by default open in their search for innovations and new business opportunities.
Innovation in SMES is hampered by lack of financial resources, scant opportunities to recruit specialized workers
In these industries, innovations are usually the outcome of recognizing new market opportunities, with technology push innovations playing only a minor role.
Starting with the simple conviction that providing a healthy sleep was a useful way to discover new business opportunities,
Working with external partners over the length of the value chain (from design to production and sales) leveraged the business to new opportunities that could not have been seized without collaboration.
Serious frictions among partners concerning their ambition to growth together in the long term open opportunities for competing companies to take market share. 8. Cost control is another important management issue related to open innovation.
Rather, they focus on major changes in their business model to seize new business opportunities and to boost profitability.
Creating value Small firms are by default open in seizing new business opportunities because they do not have the necessary competencies
Innovation in SMES is hampered by lack of financial resources, scant opportunities to recruit specialized workers, poor understanding of advanced technology, and so on.
when they discover new business opportunities, usually based on market or customer insights. Developing technology can be very important in realizing the business model,
The PROF example shows that firms can explore new business opportunities taking a significant detour of so-called customer-centric consortia.
Moreover, there are more and more opportunities for collaboration between large and small companies. Underlying drivers for this trend toward open innovation are the shortening of product lifecycles
Unused technologies in large companies represent a fertile opportunity for individual entrepreneurs or small firms to start a new business,
First, it had the opportunity to follow the evolution of Isobionics. In this way, it gained valuable lessons about the F&f applications of its technology
and coordinated a demonstration at the Kitchen appliances business of Philips. The commercial people saw the technology as an opportunity.
Consequently, new opportunities exist for small companies, but the collaboration can only be successful if the relationship is managed in an appropriate way.
Let your partner pursue business opportunities in areas that do not fit your business model. In the Airfryer case, this translated into opportunities for both partners,
one focusing on the consumer market the other one on the professional market. 89 6 Conclusion Many small companies today are confronted with harsh market conditions.
SMES in the low-and medium-tech industries we examined indicate clearly that firms that know how to manage a network of innovation partners can seize new business opportunities become key players in growth industries and turn themselves into highly profitable companies.
Finally, a business model change creates opportunities to change a second and a third time. Curana switched from an OEM to an ODM business model.
He perceives the new business opportunities, and his personal commitment and conviction help determine the success and development of the innovation network.
Opportunities and challenges, Academy of Management Journal, 50 (1), 25-32. Qualitative, in depth cases are also valuable for theory building
and seizing new business opportunities. See R. Mcgrath and I. C Macmillan (2009), Discovery driven growth:
and seize opportunity, Harvard Business Press, Boston: MA.;R. Mcgrath (2010), Business models: A discovery driven approach, Long Range Planning, 43,247-261.20 Pine, B. G. and Gilmore, J. H. 2011), The experience economy, Harvard Business Review
and seize opportunity, Harvard Business Press, Boston: MA, p. 13.25 Barometers used for meteorological purposes are calibrated always
and seize opportunity, Harvard Business Press, Boston:
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