How open innovation can help entrepreneurs in sensing and seizing entrepreneurial opportunities in SMEs

Usman, Muhammad; Vanhaverbeke, Wim; Roijakkers, Nadine

doi:10.1108/ijebr-11-2022-1019

Cited by 8 publications

(2 citation statements)

References 130 publications

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“…The implications of trends for innovation and entrepreneurship, including challenges and opportunities such as keeping pace with technological advances, balancing the benefits and drawbacks, and improving innovativeness over time [72,73]. Innovation can help entrepreneurs identify and seize business opportunities by visualizing risky ideas and implementing innovation in business models through innovation partner management [74]. Innovation has become vital to address social problems and improve community well-being [75].…”

Section: Innovationmentioning

confidence: 99%

Entrepreneurship and entrepreneurial innovation of university students, Amazonas, Peru

Davila,

Pantaleon,

Caro

et al. 2024

ijirss

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This study aims to investigate the influence of entrepreneurship on innovation competencies in students. Using a descriptive, non-experimental research design with a quantitative relational approach, the research involved a participant pool of students from the Universidad Nacional Toribio Rodríguez de Mendoza de Amazonas, totaling 310 individuals. To stimulate entrepreneurship that contributes to economic growth, it is essential to nurture entrepreneurship competencies among university students. Data collection utilized a Likert scale questionnaire, and the analysis employed SPSS and PLS statistical software. Results revealed that 60.7% of students fell within the 21 to 25 age range, with 50% receiving an income between S/. 500 to S/. 1500 soles from their parents and 48.8% obtaining income from the Cuna Más program. The PLS findings reveal a substantial impact of entrepreneurship on university students' innovation competencies, with correlations of 0.756 for knowledge generation, 0.736 for knowledge assimilation, 0.699 for knowledge partnership, and 0.756 for reorganization of knowledge. This highlights the critical importance of emphasizing entrepreneurial skills in university education. The research addresses a global literature gap on the impact of entrepreneurial competencies in establishing innovative businesses, aiming to provide empirical evidence linking open innovation dynamics and entrepreneurship. Anticipated outcomes underscore how pedagogical approaches can enhance students' capacity to generate new value for organizations or society through fostering innovative thinking and behavior.

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Section: Innovationmentioning

confidence: 99%

Entrepreneurship and entrepreneurial innovation of university students, Amazonas, Peru

Davila,

Pantaleon,

Caro

et al. 2024

ijirss

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“…An open approach entails companies embracing the utilization of outsiders' thoughts and technologies within their business operations, while also enabling other companies to benefit from unused ideas (Bagheri, 2018;Stefan et al, 2022). By harnessing the expertise and resources of external partners, a company can attain fresh associations of resources, enabling them to innovate and adapt effectively in established or burgeoning markets (Mortara et al, 2011;Spithoven et al, 2011;Srisathan et al, 2023;Usman et al, 2023).…”

Section: General Backgroundmentioning

confidence: 99%

The impact of crowdsourcing and user-driven innovation on R&D departments’ innovation activity: Application of multivariate correspondence analysis

Szopik-Depczyńska,

Dembińska,

Barczak

et al. 2024

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Research background: In enterprise practices, innovation management is taking on more and more open forms. New, creative sources of inspiration are being sought. More and more companies are opening up to cooperation with external people or entities, thus entering a path of open innovation and crowdsourcing. This development is facilitated by increasingly large numbers of online and virtual communities. The idea is to use the potential of the crowd — collective intelligence and creativity. As the strategy is still developing, knowledge in this area is limited. There is a paucity of research on the impact of crowdsourcing on R&D departments and their innovative activities. Purpose of the article: The study aims to determine whether the use of customer support in the form of crowdsourcing affects the innovative activities of R&D departments that implement user-driven innovation (UDI). Methods: An original questionnaire was used for the study. Fifty-seven R&D departments in Poland participated in the research. A correspondence analysis, performed on the basis of the Burt matrix, was applied for the analysis. The authors also used Cramer's V correlation coefficients. Examination of the acquired correlation coefficients reveals the existence of four distinct categories of enterprises regarding the usage of crowdsourcing and implementation of product innovations, completed R&D projects, employment in R&D departments, and percentage of revenue allocating in R&D works. Findings & value added: Research has shown that R&D departments positively evaluate the effects of using UDI in market research analyses of customer purchasing behavior. It helps to create or improve products or services offered on the market, especially in the field of customization, using the information from national research and development units at the same time. Their purpose is mainly to increase the product range. The findings can help academics and practitioners improve the body of knowledge about the determinants of innovation activity, especially concerning relationships with customers and user-driven innovation practices.

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The Twin Advantage: Leveraging Digital for Sustainability in Business Models

Aagaard,

Vanhaverbeke

2024

Business Model Innovation

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The accelerating depletion of global natural resources and the resultant environmental degradation underscore the urgent need for a paradigm shift towards sustainability. This chapter delves into the concept of the twin transition (TT)—the integration of digitalization with sustainable practices—as a strategic imperative for businesses to address these challenges effectively through twin transition business model innovation. It highlights the European Commission's initiatives, like the European Green Digital Coalition (EGDC), advocating for this integrated approach. The narrative outlines four strategic archetypes for twin transition business model innovation, emphasizing the importance of dynamic capabilities and open innovation in leveraging value through cross-sector collaborations. It examines the micro (operational)-, meso (strategic)-, and macro (economic)-implications of these models, demonstrating how digital tools can optimize resource use and promote circular economy practices. Finally, we explore the managerial implications of advancing twin transition business model innovation and identify key research areas essential for comprehending the transformative impact of digital and sustainable practices on competitive advantage, resilience, and long-term sustainability.

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How open innovation can help entrepreneurs in sensing and seizing entrepreneurial opportunities in SMEs

Cited by 8 publications

References 130 publications

Entrepreneurship and entrepreneurial innovation of university students, Amazonas, Peru

Entrepreneurship and entrepreneurial innovation of university students, Amazonas, Peru

The impact of crowdsourcing and user-driven innovation on R&D departments’ innovation activity: Application of multivariate correspondence analysis

The Twin Advantage: Leveraging Digital for Sustainability in Business Models

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