Taking innovations to market
The role of strategic choice and the evolution of dynamic capabilities

Authors: Foss, Lene; Iakovleva, Tatiana; Kickul, Jill; Oftedal, Elin M.; Solheim, Anne

Source: The International Journal of Entrepreneurship and Innovation, Volume 12, Number 2, May 2011 , pp. 105-116(12)

Publisher: IP Publishing Ltd

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Abstract:

How are innovations taken to market? Both theoretically and empirically, the process of commercialization has received scant attention. This study investigates the early commercialization process of three innovative firms in the Norwegian petroleum industry. The authors argue that the role of strategic choice is important for the processes these firms use to create and build their own dynamic capabilities. In this regard, they address the central question of what role the strategic choice of the firm plays in the process, creation and evolution of its dynamic capabilities during the early stage of commercialization. The authors' findings reveal that certain dynamic capabilities are emphasized and appear to be more relevant to the strategic intentions of the CEO or entrepreneurial team. Two firms, whose strategic intent was to commercialize and exit, were more inclined to build an adaptive capability, while the firm intending to commercialize and to stay in the market stressed the importance of absorptive capability. Common to all three cases is the finding that adaptive and absorptive capabilities seem to enhance their innovative capabilities, which are essential for commercializing innovations.

Keywords: DYNAMIC CAPABILITIES; COMMERCIALIZATION PROCESS; STRATEGIC CHOICE; INNOVATION

Document Type: Research article

DOI: http://dx.doi.org/10.5367/ijei.2011.0029

Publication date: 2011-05-01

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Published quarterly, this journal provides a worldwide forum for the exploration and dissemination of ideas and experience relating to the development and application of entrepreneurship. IJEI is interdisciplinary, publishing the highest-quality work in business and management and in the social sciences. Authors and readers are drawn from government, industry and universities. It has particular appeal to researchers and teachers in higher education, especially in business schools, and university departments of management, sociology and psychology.

Each issue includes double-blind peer-reviewed papers; a case study with teaching notes, an 'Internet Review' section which identifies and reviews Websites on a selected topic, and book reviews. For key topics go to www.ippublishing.com.
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