How do firms innovate with limited resources in turbulent markets?

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Abstract

Th is study explores the question of how firms innovate with limited resources in turbulent markets utilizing the comparative case studies of 10 start-up companies. The evidence discovered while studying resource-limited innovation at these 10 companies suggests that the effect resource utilization has on innovation performance is moderated by four attitudinal factors that act as catalysts for successful innovation when resources are limited. The four factors are: Intention, Inspiration, Integration, and Indefatigability. These factors are the foundation of ‘lean innovation capability’ such that companies, in the presence of these attitudinal factors, use limited resources in creative ways. The study’s results suggesta need to reconsider the conventional wisdom regarding the need for the abundance of resources in order to successfully innovate. In fact, utilizing the case data, we argue that limited resources managed with these four-attitudinal factors lead to superior innovation performance, which is underutilized and ineffi ciently deployed in more munifi cent environments.

Original languageEnglish (US)
Pages (from-to)430-444
Number of pages15
JournalInnovation: Management, Policy and Practice
Volume16
Issue number3
DOIs
StatePublished - Dec 1 2014

All Science Journal Classification (ASJC) codes

  • Management of Technology and Innovation

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