Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
7433114 | Industrial Marketing Management | 2015 | 10 Pages |
Abstract
This article explores the role of institutions in innovation from a service-ecosystems perspective, which helps to unify diverging views on innovation and extend the research regarding innovation systems. Drawing on institutional theories, this approach broadens the scope of innovation beyond firm-centered production activities and collaboration networks, and emphasizes the social practices and processes that drive value creation and, more specifically, innovation - the combinatorial evolution of new, useful knowledge. Based on this ecosystems view, we argue for institutionalization - the maintenance, disruption and change of institutions - as a central process of innovation for both technology and markets. In this view, technology is conceptualized as potentially useful knowledge, or a value proposition, which is both an outcome and a medium of value co-creation and innovation. Market innovation, then, is driven by the combinatorial evolution of value propositions and the emergence and institutionalization of new solutions.
Related Topics
Social Sciences and Humanities
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Marketing
Authors
Stephen L. Vargo, Heiko Wieland, Melissa Archpru Akaka,