The importance of innovation for organizations to remain competitive is widely discussed and well accepted by scholars and practicing managers. However, failures in innovation attempts are quite common and raise many questions. Why do firms with innovative products fail? Does market acceptance of innovations alone guarantee continuous success? Is it innovation strategy that can ensure long-term prosperity? One can argue that it is not only how to innovate that matters, but also where, what and when to innovate that make the difference.
Through scaling, smart movers can quickly build substantial market shares – or define entirely new markets. To help understand scaling we have divided it into three main areas: Emergence, Networks and Waves. This article is on Emergence, the first in a series of three.
Companies that make a strategic choice to become the “first mover” on open innovation in their industry will find that implementing it is hard, but it will often result in a leadership position that is hard to copy. The same applies to suppliers who decide to become the preferred partner of choice within the given industry, according to Stefan Lindegaard.