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Related Experiment Videos

The innovation value chain.

Morten T Hansen1, Julian Birkinshaw

  • 1Family Enterprise at Insead, Fontainebleau, France. morten.hansen@insead.edu

Harvard Business Review
|June 22, 2007
PubMed
Summary
This summary is machine-generated.

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Companies face unique innovation challenges. The innovation value chain framework helps identify and address weaknesses in idea generation, conversion, or diffusion for improved business performance.

Area of Science:

  • Business Strategy
  • Innovation Management
  • Organizational Behavior

Background:

  • Companies struggle with different aspects of innovation, from idea generation to market realization.
  • Existing innovation tools may be ineffective without understanding a company's specific deficiencies.
  • A gap exists in tailored approaches to address unique organizational innovation system flaws.

Purpose of the Study:

  • To introduce a framework for evaluating innovation performance: the innovation value chain.
  • To guide executives in identifying and strengthening the weakest links in their innovation systems.
  • To provide a structured approach for companies to tailor innovation best practices.

Main Methods:

  • The innovation value chain framework, encompassing idea generation, conversion, and diffusion phases.

Related Experiment Videos

  • Analysis of critical activities within each phase: idea sourcing, selection, funding, and diffusion.
  • Case studies of companies like Intuit, P&G, and Siemens modifying practices for their needs.

    • Main Results:

    • Companies often fall into 'idea poor,' 'conversion poor,' or 'diffusion poor' scenarios.
    • The framework provides an end-to-end view, enabling targeted improvements.
    • Successful companies adapt best practices to address specific weaknesses.

    Conclusions:

    • Adopting an innovation value chain view requires new performance measures.
    • New employee roles, such as 'external scouts' and 'internal evangelists,' may be necessary.
    • Hiring should focus on candidates who can address identified weaknesses in the innovation value chain.