Journal ArticleDOI
Value Creation through Novel Resource Configurations in a Digitally Enabled World
Raphael Amit,Xu Han +1 more
TLDR
In this paper, a conceptual framework for examining the value-creation potential embedded into novel, digitally powered resource configurations is proposed, and the importance of such a holistic approach to enhancing the value creation potential in the digital age for entrepreneurs and managers is highlighted.Abstract:
Research summary
We propose a conceptual framework for examining the value-creation potential embedded into novel, digitally powered resource configurations. We suggest that business digitization calls for firms to adopt a system-based, value-creation-centric perspective for designing and organizing their resource configurations. Our conceptualization of a firm's resource configuration decisions centers on organizing access to resources controlled by value cocreators. We discuss resource configuration prototypes, value-creation sources, and the underlying resource configuration processes enabled by digitization. Our study contributes to the literature on strategic entrepreneurship by incorporating the ramifications of digitization into the theory on firms’ resource configuration and its underlying processes to enable strategic entrepreneurship.
Managerial summary
Digitization has profoundly reshaped the way business opportunities are discovered and exploited. In this article, we suggest that digitization expands the scope of resources firm could utilize while requiring firms to take a holistic approach in considering the resources and addressing the needs of all customers and partners (e.g., resource providers). We highlight the importance of such a holistic approach to enhancing the value creation potential in the digital age for entrepreneurs and managers. In addition, we propose novel ways to connect resources with needs of customers and partners (e.g., enabling transactions and providing bridges) as well as the actionable microprocesses that undergird and enable these novel connections in a digitally enabled world. Copyright © 2017 Strategic Management Society.read more
Citations
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The Lean Startup:How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses
TL;DR: Ries was one of the pioneers of the Lean Startup philosophy as discussed by the authors, based on the Japanese Philosophy of Lean Manufacturing, and he pioneered the philosophy of Lean Startup based on his experience with multiple startups.
Journal ArticleDOI
Linking information systems and entrepreneurship: A review and agenda for IT-associated and digital entrepreneurship research
TL;DR: It is suggested that IT plays four major roles in entrepreneurial operations: as a facilitator, making the operations of start‐ups easier; as a mediator for new ventures' operations; as an outcome of entrepreneurial operations; and as a ubiquity, becoming the business model itself.
Journal ArticleDOI
Knowledge Management Capabilities and Organizational Risk-Taking for Business Model Innovation in SMEs
TL;DR: In this article, the authors examined the impact of knowledge management capabilities on business model innovation and how these effects are moderated by a firm's risk-taking tolerance, and found that knowledge management is only effective for firms with a low risk taking tolerance.
Journal ArticleDOI
Capabilities for market-shaping: triggering and facilitating increased value creation
TL;DR: It is established that in order to improve value creation in a market, market-shapers must consider a larger system of relevant stakeholders, recognize the institutional arrangements governing their behaviors, and foster new resource linkages within and across stakeholders.
Journal ArticleDOI
Extending the international new venture phenomenon to digital platform providers: a longitudinal case study
TL;DR: This paper extends the scope of INV theory via a model that encompasses the internationalization process of digital platform providers, and reports on a longitudinal case study of a digital platform provider (covering the period 2000–2017), to gain in-depth insight into the INV phenomenon.
References
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Book ChapterDOI
Firm Resources and Sustained Competitive Advantage
TL;DR: In this article, the authors examined the link between firm resources and sustained competitive advantage and analyzed the potential of several firm resources for generating sustained competitive advantages, including value, rareness, imitability, and substitutability.
Journal ArticleDOI
Dynamic capabilities and strategic management
TL;DR: The dynamic capabilities framework as mentioned in this paper analyzes the sources and methods of wealth creation and capture by private enterprise firms operating in environments of rapid technological change, and suggests that private wealth creation in regimes of rapid technology change depends in large measure on honing intemal technological, organizational, and managerial processes inside the firm.
Journal ArticleDOI
Evolving to a New Dominant Logic for Marketing
Stephen L. Vargo,Robert F. Lusch +1 more
TL;DR: The authors argue that service provision rather than goods is fundamental to economic exchange and argue that the new perspectives are converging to form a new dominant logic for marketing, one in which service provision is fundamental for economic exchange.
Journal ArticleDOI
The cornerstones of competitive advantage: A resource‐based view
TL;DR: In this article, the underlying economics of the resource-based view of competitive advantage is elucidated, and existing perspectives are integrated into a parsimonious model of resources and firm performance.
Journal ArticleDOI
Clarifying the Entrepreneurial Orientation Construct and Linking It To Performance
G. T. Lumpkin,Gregory G. Dess +1 more
TL;DR: In this article, a contingency framework for investigating the relationship between entrepreneurial orientation and firm performance is proposed. But the authors focus on the business domain and do not consider the economic domain.