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The Harsh Reality of Pursuing Innovations: Emerging Market Perspectives

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  • Quan-Hoang Vuong

Abstract

This short conference paper serves as a distillation of a keynote address delivered at the the Second National Conference on Management and Higher Education Trends & Strategies for Management & Administration hosted by Bangkok-based Stamford International University (Thailand) on November 1, 2014.Innovation is discussed as the heart of entrepreneurial processes occurring in today's capitalist economic systems, including transition economies like China and Vietnam, which underscores economic competitiveness of firms and economies. But the innovation effort and process also face dilemma of "entrepreneurial curse of innovation". Advantages and disadvantages are weighed for a more balanced view, especially in the context of outnumbering SMEs and given existence of pitfalls and traps along the innovation path of development. Toward the end, the value of the market is once again stressed amid the concern of subjective assumption and illusion about availability of market opportunities in the mind of innovators, which may contrast totally with the dismal outcome the actual market realities may show ex post.

Suggested Citation

  • Quan-Hoang Vuong, 2014. "The Harsh Reality of Pursuing Innovations: Emerging Market Perspectives," Working Papers CEB 14-028, ULB -- Universite Libre de Bruxelles.
    • Handle: RePEc:sol:wpaper:2013/177171
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    File URL: https://dipot.ulb.ac.be/dspace/bitstream/2013/177171/1/wp14028.pdf
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    References listed on IDEAS

    as
    1. Quan Hoang Vuong & Nancy K. Napier & Tri Dung Tran, 2013. "A categorical data analysis on relationships between culture, creativity and business stage: the case of Vietnam," International Journal of Transitions and Innovation Systems, Inderscience Enterprises Ltd, vol. 3(1), pages 4-24.
    2. G. M.P. Swann, 2009. "The Economics of Innovation," Books, Edward Elgar Publishing, number 13211.
    3. Quan-Hoang Vuong & Tran Tri Dung, 2009. "The Cultural Dimensions of the Vietnamese Private Entrepreneurship," Working Papers CEB 09-027.RS, ULB -- Universite Libre de Bruxelles.
    4. Quan-Hoang Vuong & Nancy K. Napier, 2012. "Resource Curse or Destructive Creation: A Tale of Crony Capitalism in Transition," Working Papers CEB 12-037, ULB -- Universite Libre de Bruxelles.
    5. Quan-Hoang Vuong, 2014. "Vietnam’s political economy: a discussion on the 1986-2016 period," Working Papers CEB 14-010, ULB -- Universite Libre de Bruxelles.
    6. Napier, Nancy K. & Vuong, Quan-Hoang, 2013. "Serendipity as a Strategic Advantage?," OSF Preprints es3rv, Center for Open Science.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    innovation; emerging markets; capitalist economic system; entrepreneurial process;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • P17 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Performance and Prospects
    • P23 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Factor and Product Markets; Industry Studies; Population

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