Jelena Spanjol

Bio: Jelena Spanjol is an academic researcher from Ludwig Maximilian University of Munich. The author has contributed to research in topics: New product development & Product (category theory). The author has an hindex of 20, co-authored 53 publications receiving 1611 citations. Previous affiliations of Jelena Spanjol include College of Business Administration & Texas A&M University.

Innovation's Effect on Firm Value and Risk: Insights from Consumer Packaged Goods

Abstract: What is the relationship between innovation and firm value? Does the type of innovation make a difference? To answer these questions, the authors examine how breakthrough and incremental innovations affect three different facets of firm performance: normal profits, economic rents, and total firm risk. They argue that each of these metrics is of independent interest to shareholders and managers and that examining one without the others results in an incomplete picture of the true financial value of innovation. Using data on more than 20,000 new products from consumer packaged goods industries, the authors find that breakthrough innovation is associated with increases in both normal profits and economic rents and that, on average, each breakthrough innovation in the sample is associated with an increase in firm value of $4.2 million. Breakthrough innovation is also associated with increases in the risk of the innovating firm, but this higher risk is offset by above-normal stock returns. In contrast, incremental innovation is associated with increases in normal profits only and has no impact on economic rents or firm risk.

Innovation's Effect on Firm Value and Risk: Insights from Consumer Packaged Goods

Abstract: What is the relationship between innovation and firm value? Does the type of innovation make a difference? To answer these questions, the authors examine how breakthrough and incremental innovations affect three different facets of firm performance: normal profits, economic rents, and total firm risk.They argue that each of these metrics is of independent interest to shareholders and managers and that examining one without the others results in an incomplete picture of the true financial value of innovation. Using data on more than 20,000 new products from consumer packaged goods industries, the authors find that breakthrough innovation is associated with increases in both normal profits and economic rents and that, on average, each breakthrough innovation in the sample is associated with an increase in firm value of $4.2 million. Breakthrough innovation is also associated with increases in the risk of the innovating firm, but this higher risk is offset by above-normal stock returns. In contrast,...

How Many and What Kind? The Role of Strategic Orientation in New Product Ideation

Abstract: Existing studies on the role that strategic orientation plays in companies' innovation efforts primarily focus on identifying the relationship between strategic orientation and innovation performance for launched new products. In contrast, this article investigates how the different types of strategic orientation (i.e., customer, competitor, and technology orientations) influence the front end of innovation. Specifically, this research examines how strategic orientation relates to new product ideation outcomes such as ideation volume (i.e., how many new product ideas are generated) and ideation novelty (i.e., how innovative ideas are). The model developed in this study includes both direct effects of strategic orientation on new product ideation and indirect effects on ideation, mediated by an organization's market search behavior targeted at uncovering new product ideas. A survey of 182 marketing and technical managers, whose responses are analyzed with Partial Least Squares (PLS), reveals that firms characterized by a competitor orientation search their markets significantly more for new product ideas than firms marked by a technology or customer orientation. An emphasis on market search behavior, in turn, leads to significantly greater quantities of new product ideas generated by the firm. Neither a competitor nor a customer orientation significantly enhances the novelty of new product ideas, which is augmented only by technology orientation. The data also reveal that product ideation novelty is significantly enhanced by a technology orientation regardless of the level of market turbulence faced by the innovating firm. Together, these findings suggest that market orientation may have a greater influence on the implementation and commercialization stages of new product development than on new product ideation.

Scrooge Posing as Mother Teresa: How Hypocritical Social Responsibility Strategies Hurt Employees and Firms

Abstract: Extant research provides compelling conceptual and empirical arguments that company-external (e.g., philanthropic) as well as company-internal (i.e., employee-directed) CSR efforts positively affect employees, but does so largely in studies assessing effects from the two CSR types independently of each other. In contrast, this paper investigates external–internal CSR jointly, examining the effects of (in)consistent external–internal CSR strategies on employee attitudes, intentions, and behaviors. The research takes a social and moral identification theory view and advances the core hypothesis that inconsistent CSR strategies, defined as favoring external over internal stakeholders, trigger employees’ perceptions of corporate hypocrisy which, in turn, lead to emotional exhaustion and turnover. In Study 1, a cross-industry employee survey (n = 3410) indicates that inconsistent CSR strategies with larger external than internal efforts increase employees’ turnover intentions via perceived corporate hypocrisy and emotional exhaustion. In Study 2, a multi-source secondary dataset (n = 1902) demonstrates that inconsistent CSR strategies increase firms’ actual employee turnover. Combined, the two studies demonstrate the importance of taking into account the interests of both external and internal stakeholders of the firm when researching and managing CSR.

What is Narrative Analysis

Abstract: Recording of presentation introducing narrative analysis, outlining what it is, why it can be a useful approach, how to do it and where to find out more. Presentation given at methods@manchester seminar at University of Manchester on 4 March 2010.

Distinction: A Social Critique of the Judgement of Taste

Abstract: By Pierre Bourdieu (London: Routledge, 2010), xxx + 607 pp. £15.99 paper. A combination of social theory, statistical data, illustrations, and interviews, Distinction: A Social Critique of the Judg...

The Third Wave

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Crowdsourcing New Product Ideas Over Time: An Analysis of Dell's Ideastorm Community

Abstract: Several organizations have developed ongoing crowdsourcing communities that repeatedly collect ideas for new products and services from a large, dispersed “crowd” of non-experts (consumers) over time. Despite its promises, little is known about the nature of an individual’s ideation efforts in such an online community. Studying Dell’s IdeaStorm community, serial ideators are found to be more likely than consumers with only one idea to generate an idea the organization find valuable enough to implement, but are unlikely to repeat their early success once their ideas are implemented. As ideators with past success attempt to again come up with ideas that will excite the organization, they instead end up proposing ideas similar to their ideas that were already implemented (i.e., they generate less diverse ideas). The negative effects of past success are somewhat mitigated for ideators with diverse commenting activity on others’ ideas. These findings highlight some of the challenges in maintaining an ongoing supply of quality ideas from the crowd over time.