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Firm’s Innovation Ecosystem: Barriers, Key Success Factors and Strategies

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datacite.subject.fos oecd::Social sciences::Economics and Business
dc.contributor.author Vu Minh Hieu
dc.contributor.author . .
dc.date.accessioned 2022-10-31T10:17:52Z
dc.date.available 2022-10-31T10:17:52Z
dc.date.issued 2021
dc.description.abstract Strategic positioning fosters the firm performance in an ecosystem. Companies in an innovation ecosystem use strategic tools to connect different business units. The systematic literature review was used to search for the articles used in this review. Google Scholar search engine was employed to filter the references of each selected paper. In total, 41 papers published in journal and conference proceedings have been used for the review. The review shows that companies challenges as shortage of willingness to share insights and intellectual property, confusion over management methods need to create sustainable value, lack of coordination within the ecosystem, lack of an innovation plan, failure to pay attention to a new set of risks and costs associated with network-types of practices when innovating through an ecosystem. The review highlights specific key success factors such as management commitment, consumer value, and value chains linked to customers’ expectations, and organisational culture that supports change processes, well-articulated goals, timelines and milestones, and embracing risk-taking and understanding the nature of risks in collaborative networks. Furthermore, the review also identified the balanced scorecard multiplying risks and value blueprint as strategic tools used to evaluate the performance of companies within an ecosystem. The study concludes that managers should evaluate the ecosystems’ ability and the potential of their firms to survive.
dc.identifier.doi 10.14704/WEB/V18SI03/WEB18017
dc.identifier.uri http://repository.vlu.edu.vn:443/handle/123456789/481
dc.language.iso en_US
dc.relation.ispartof Webology
dc.relation.issn 1735-188X
dc.subject Balanced Scorecard
dc.subject Firm Performance
dc.subject Innovation Ecosystem
dc.subject Management Commitment
dc.subject Strategic Positioning
dc.subject Strategic Tools
dc.subject Value Chains
dc.title Firm’s Innovation Ecosystem: Barriers, Key Success Factors and Strategies
dc.type journal-article
dspace.entity.type Publication
oaire.citation.issue SI03
oaire.citation.volume 18
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