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Strategic innovation in the convergence era

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  • Sang M. Lee
  • David L. Olson
  • Silvana Trimi

Abstract

Megatrends are shaping the rapidly changing global economy. These trends have also brought a convergence revolution, creating a new business environment 'convergenomics'. An in-depth analysis of convergences from organisational factors to technologies, industries and biological-artificial systems is presented with numerous real-world examples. Then, strategic innovation approaches to create new values on the value chain are suggested in the new environment of convergenomics. The impact of convergenomics on organisational value creation leads to new strategic innovation approaches. The role of strategic innovation in convergenomics is discussed along with its impact on the value chain.

Suggested Citation

  • Sang M. Lee & David L. Olson & Silvana Trimi, 2010. "Strategic innovation in the convergence era," International Journal of Management and Enterprise Development, Inderscience Enterprises Ltd, vol. 9(1), pages 1-12.
    • Handle: RePEc:ids:ijmede:v:9:y:2010:i:1:p:1-12
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    Citations

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    Cited by:

    1. Eduard Hartwich & Alexander Rieger & Johannes Sedlmeir & Dominik Jurek & Gilbert Fridgen, 2023. "Machine economies," Electronic Markets, Springer;IIM University of St. Gallen, vol. 33(1), pages 1-13, December.
    2. Dr. Seung Hoon Jang, 2013. "The Offensive Framework of Resource Based View (RBV): Inhibiting Others from Pursuing Their Own Values," Journal of Management and Strategy, Journal of Management and Strategy, Sciedu Press, vol. 4(1), pages 62-69, February.
    3. Seung Hoon Jang & Sang M. Lee & Taewan Kim & Donghyun Choi, 2019. "Planting and harvesting innovation - an analysis of Samsung Electronics," International Journal of Quality Innovation, Springer, vol. 5(1), pages 1-16, December.
    4. Freida C. Palma & Silvana Trimi & Soon-Goo Hong, 2019. "Motivation triggers for customer participation in value co-creation," Service Business, Springer;Pan-Pacific Business Association, vol. 13(3), pages 557-580, September.
    5. Cayetano Medina Molina & Domingo Ribeiro Soriano & Cristina Blanco González-Tejero, 2023. "Multi-level corporate entrepreneurship in SMEs: an intra-metropolitan analysis," Review of Managerial Science, Springer, vol. 17(7), pages 2185-2213, October.
    6. Silvana Trimi & Sang-Hyun Park, 2013. "Green IT: practices of leading firms and NGOs," Service Business, Springer;Pan-Pacific Business Association, vol. 7(3), pages 363-379, September.
    7. Soon-Goo Hong & Hyun-Mi Lee, 2015. "Developing Gamcheon Cultural Village as a tourist destination through co-creation," Service Business, Springer;Pan-Pacific Business Association, vol. 9(4), pages 749-769, December.
    8. Kwan Soo Hong & DonHee Lee, 2018. "Impact of operational innovations on customer loyalty in the healthcare sector," Service Business, Springer;Pan-Pacific Business Association, vol. 12(3), pages 575-600, September.
    9. M. Minsuk Shin & Eun Jeong Noh & Jiwon Lee, 2018. "Study abroad programs as a service convergence: an international marketing approach," Service Business, Springer;Pan-Pacific Business Association, vol. 12(2), pages 253-275, June.
    10. Yeong-Wha Sawng & Kazuyuki Motohashi & Gang-Hoon Kim, 2013. "Comparative analysis of innovative diffusion in the high-tech markets of Japan and South Korea: a use–diffusion model approach," Service Business, Springer;Pan-Pacific Business Association, vol. 7(1), pages 143-166, March.
    11. Seung Hoon Jang & Byung Ku Lee & Samuel A. Nelson, 2014. "Institutionalization Strategy Enhancing Firm Resources: Isomorphism from Firms and Its Strategic Implications," Journal of Management and Strategy, Journal of Management and Strategy, Sciedu Press, vol. 5(3), pages 1-9, August.
    12. HeeSoo Chin & Durga Prasad Marasini & DonHee Lee, 2023. "Digital transformation trends in service industries," Service Business, Springer;Pan-Pacific Business Association, vol. 17(1), pages 11-36, March.
    13. Waleed Zaghloul & Silvana Trimi, 2017. "Developing an innovative entity extraction method for unstructured data," International Journal of Quality Innovation, Springer, vol. 3(1), pages 1-10, December.
    14. Seongbae Lim & Hong-Hee Lee & Kyoung Claudio Jung, 2020. "Convergence strategy and innovation capability of the classic art industry," International Journal of Quality Innovation, Springer, vol. 6(1), pages 1-12, December.
    15. Lee, Sang M. & Trimi, Silvana, 2021. "Convergence innovation in the digital age and in the COVID-19 pandemic crisis," Journal of Business Research, Elsevier, vol. 123(C), pages 14-22.
    16. Büşra Buran & Mehmet Erçek, 2021. "Convergence or Divergence among Business Models of Public Bus Transport Authorities across the Globe: A Fuzzy Approach," Sustainability, MDPI, vol. 13(19), pages 1-21, September.
    17. Insu Cho & Heejun Park & Joseph Kim, 2012. "The moderating effect of innovation protection mechanisms on the competitiveness of service firms," Service Business, Springer;Pan-Pacific Business Association, vol. 6(3), pages 369-386, September.
    18. Sang M. Lee, 2018. "Innovation: from small “i” to large “I”," International Journal of Quality Innovation, Springer, vol. 4(1), pages 1-10, December.
    19. Youngjung Geum & Sungjoo Lee & Daekook Kang & Yongtae Park, 2011. "The customisation framework for roadmapping product-service integration," Service Business, Springer;Pan-Pacific Business Association, vol. 5(3), pages 213-236, September.
    20. Jochen Schweitzer, 2016. "How Contracts And Culture Mediate Joint Transactions Of Innovation Partnerships," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 20(01), pages 1-33, January.
    21. Kun-Huang Huarng & Amparo Cervera & Francisco Mas-Verdu, 2018. "Innovation and service-dominant logic," Service Business, Springer;Pan-Pacific Business Association, vol. 12(3), pages 453-456, September.
    22. Sang M. Lee & DonHee Lee, 2020. "“Untact”: a new customer service strategy in the digital age," Service Business, Springer;Pan-Pacific Business Association, vol. 14(1), pages 1-22, March.
    23. Aaldering, Lukas Jan & Leker, Jens & Song, Chie Hoon, 2019. "Uncovering the dynamics of market convergence through M&A," Technological Forecasting and Social Change, Elsevier, vol. 138(C), pages 95-114.

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