Open innovation as a strategy for collaboration-based business model innovation: The moderating effect among multigenerational entrepreneurs

Abstract

The aim of this study was to investigate the existence of collaboration-based business model innovation through an open innovation strategy among multigenerational-cohort SMEs in the context of the Thailand setting. This current research identified four key antecedents of open innovation based on resource and capability review. Open innovation is examined in two main strategies: (1) open innovation breadth and depth, and (2) open innovation cooperation. Using survey data from family-owned SMEs in Thailand, we estimate multigroup structural invariance models considering four generational cohorts by age: Generation Z, Generation Y, Generation X, and Baby Boomers. The empirical results indicated that family business owners are more likely to pay attention to innovative human capital and strategic agility among Generation Y and Baby Boomers. Meanwhile, Generation Z, Generation Y, and Baby Boomers tend to understand the importance of strategic agility before they strategize their breadth and depth of open innovation. To execute an open innovation strategy, Generation Z, Generation Y, and Generation X tend to implement a partner-search strategy and then do a cooperation plan. Our findings imply that business practitioners should understand the moderating role of generational cohorts due to their experience age. There are differences among Generation Z, Generation Y, and Generation X when participating in collaboration-based business model innovation using an open innovation strategy.

Examining generational differences in the workplace: narcissism, work centrality, and the impact on employee engagement and discretionary effort

“…Currently, there are four distinct generations in the global labor force, namely, Baby Boomers, Generation X, Generation Y and Generation Z (Srisathan et al , 2022). In Thailand, the major employee population consists of Generation X, Generation Y and Generation Z, as most Baby Boomers have already retired (Tanasapsakul and Vongurai, 2018).…”

“…The younger generation of workers brings forth distinct skills, levels of engagement, efforts and work values, which may differ from those of previous generations (Basic, 2018). Consequently, firms are confronted with difficulties in effectively managing a diverse workforce comprising employees from multiple generations (Srisathan et al , 2022).…”

“…Consequently, interactions, communication and practices between younger and older generations can present challenges and yield ineffective outcomes (Srisathan et al , 2022). Given that the concept of global generations is primarily based on Western societies, this study addresses a critical gap in knowledge by exploring the specific implications within Thai culture, where generational cohorts may exhibit different dynamics compared to those of Western culture.…”

“…Generational differences manifest among groups of employees (Twenge, 2010; Basic, 2018). In Thailand, as in other parts of the world, the workplace is composed of four generations: Baby Boomers; Generation X; Generation Y; and Generation Z (Srisathan et al , 2022). …”

Optimization models for member firms selection to build an embedded innovation ecosystem

“…However, despite of innovative advantages of the technology firms, their limited resources and lack of experience often lead them to a dead end. They urgently need to cooperate with large firms that can provide complementary resources to improve their competitiveness and accelerate their growth (Srisathan et al, 2022). On the other hand, emerging technology firms lead to fiercer competition and may undermine the large firms' benefits.…”