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Service Innovation Commercialization Factors in the Fast Food Industry

Author

Listed:
  • Mindaugas Laužikas

    (Vilnius University Business School, Lithuania)

  • Mindaugas Laužikas

    (Global Innovation Learning Ecosystem (GILE) Experts Ltd, Malta)

  • Aistė Miliūtė

    (Akvavita, JSC, Lithuania)

  • Aistė Miliūtė

    (Vilnius University Business School, Lithuania)

  • Lukas Tranavičius

    (Vilnius University Business School, Lithuania)

  • Emilis Kičiatovas

    (Vilnius University Business School, Lithuania)

Abstract

The purpose of this paper is to examine the service innovation commercialization process in fast food companies. The literature on main concepts of innovation, classification of types of innovation and its processes is well established. However, particularities and unique trends of various economies and industries in terms of innovations call for research efforts to characterize the innovation situation in specific countries and/ or industries. In addition to the regional specificity of innovation, Von Stamm (2008), Giannopoulou et al. (2014), Johannessen (2013), Hertog et al. (2010), and Oke (2007) call for discussions on peculiarities of service innovations and its commercialization specificity. The present paper focuses on the commercialization process of service innovation, while choosing as a research object innovations in the fast food industry and emphasizing the case of Lithuania. This research is relevant and innovative as not a little research has been conducted in the field of fast food restaurants. Also, many service innovation opportunities remain underutilized in the fast food industry; thus, the research question ‘What service innovations have the potential to maximize added-value in the fast food market and what is the best way to do this?’ is formulated. We attempt to identify factors that influence a company’s success in the fast food market while analysing the case of Lithuanian fast food companies. Taking into consideration that commercialization demands a thorough expertise in managing resources, strategic planning as well as managing processes from ideas generation to delivering services to the market and/ or receiving commercial value from it, the present research is centred on qualitative expert interviews among fast food companies. It serves as the theoretical conceptual framework of service innovation commercialization, and might be followed by similar research on the commercialization of service innovations.

Suggested Citation

  • Mindaugas Laužikas & Mindaugas Laužikas & Aistė Miliūtė & Aistė Miliūtė & Lukas Tranavičius & Emilis Kičiatovas, 2016. "Service Innovation Commercialization Factors in the Fast Food Industry," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 4(2), pages 108-128, December.
    • Handle: RePEc:ssi:jouesi:v:4:y:2016:i:2:p:108-128
    DOI: 10.9770/jesi.2016.4.2(1)
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    References listed on IDEAS

    as
    1. Bengt-Åke Lundvall, 2002. "Innovation, Growth and Social Cohesion," Books, Edward Elgar Publishing, number 2466.
    2. Avimanyu Datta, 2011. "An Integrative Model to Explain the Ability to Commercialize Innovations: Linking Networks, Absorptive Capacity, Ambidexterity and Environmental Factors," Journal of Management and Strategy, Journal of Management and Strategy, Sciedu Press, vol. 2(2), pages 2-22, June.
    3. Mary M. Crossan & Marina Apaydin, 2010. "A Multi‐Dimensional Framework of Organizational Innovation: A Systematic Review of the Literature," Journal of Management Studies, Wiley Blackwell, vol. 47(6), pages 1154-1191, September.
    4. Avimanyu Datta & Richard Reed & Len Jessup, 2013. "Commercialization of innovations: an overarching framework and research agenda," American Journal of Business, Emerald Group Publishing Limited, vol. 28(2), pages 147-191, October.
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    More about this item

    Keywords

    service innovation; commercialization; fast food industry; added-value; innovation processes;
    All these keywords.

    JEL classification:

    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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