Journal of Open Innovation: Technology, Market, and Complexity

There is a shortage of research investigating the link between employee development practices and intellectual capital as mediated by knowledge management. The aim of the current research was to consider the influence of employee development practices on intellectual capital through knowledge management. Data were collected through an instrument distributed to a sample of 464 employees working at information and communications technology companies. The results indicate that employee development practices had significant effects on human capital, knowledge management, and social capital. The results reveal that knowledge management had a significant effect on human capital but not on social capital. Finally, the results show that knowledge management significantly mediated the impact of employee development practices on human capital. Additionally, implications for intellectual capital development, organizational strategy, and academic research are discussed. Full article

Cultural inclusion generates a positive impact by socially increasing pride for individuals or economically increasing a country’s global capital. Currently, in New Zealand (NZ), not many strategies exist that ensure inclusion of culture in new products introduced locally and globally. Further, cultural inclusion in products appears highly represented in the tourist markets, but not so much in the domestic markets. This paper examines the current NZ strategies for cultural inclusion in product development of different sized companies that supply locally and globally through three case studies and compares the findings with theoretical models used in other regions. Findings elaborate that NZ lacks in documented standardized strategies when it comes to cultural inclusion. A positive impact of having such a strategy is perceived by participating companies with a culture for open innovation to ensure they are following a process approach that can help include cultural aspects appropriately. Creating a unique position for the brand globally, increasing global capital and deeper connectivity, and increasing the understanding of culture were some key benefits identified. However, a few steps in the new product development process were found largely lacking in NZ firms, such as communication with cultural representatives and leaders. A cultural inclusion model is developed based on the study findings to include an open innovation culture that can help NZ companies be more inclusive in their design and establish a unique NZ market for generating positive impacts. Full article

Silicon Fen (SF) is a cluster of high-tech firms located around the University of Cambridge (UoC) in the UK. This article, for the first time, investigates the technological bonds between SF firms and UoC based on patent analysis covering the period of 1999–2021. We provide a short history of SF, highlighting its early formation and growth, and the role of spin-off firms on its evolution. We employ joint patents generated by UoC and various business sectors of SF to calculate the values of technological collaboration strength (TCS). It is found that the majority of joint patents (61%) are generated by the Pharma/Biotech sector of SF with the highest value of TCS (16.45 × 10⁻³). Moreover, the patent’s economic values across various business disciplines in SF are calculated based on the total counts of citations. Our observations suggest that senior university academics making spin-off firms in a business cluster around their university can effectively facilitate university–firm technological collaboration. Furthermore, the relatively strong technological bond between UoC and the Pharma/Biotech sector of SF is confirmed to be influenced by the collaboration of the university with its own spin-off firms rather than large independent firms in SF. The outcomes of this research contribute to the knowledge of the collaboration between a main research university and a cluster of firms located in its geographical proximity. Full article

COVID-19 severely impacted small industries in Indonesia and many collapsed. Sustainable education is essential to help small industries recover post-pandemic through an open innovation design program to improve small industries’ economic, social, and environmental performance. This paper examined the impacts of the sustainable education program implemented and explored open innovations suitable for the sustainability of small industries in developing countries, such as Indonesia, after the pandemic. This research employed a Participatory Action Research (PAR) approach involving academics, government, the community, and four small industries in West Java, Indonesia. Our findings reveal that the sustainable education program through learning activities and direct practice provides valuable knowledge and experience for small industries in designing economic, social, and environmental innovations. Open innovations post-pandemic suitable for small industries in Indonesia include simple business digitalization for company economic growth, the recruitment of people losing their jobs due to the pandemic to achieve social benefits, and innovations in using environmentally friendly packaging and charcoal briquette fuel as an environmental awareness effort. This study recommends that the open innovation designed for small industries be right on target and done using a participatory method to achieve sustainability after the COVID-19 pandemic. Full article

Business accelerators have emerged as an important innovation intermediary, with their primary role identified as stimulating premature startups through mentorship and training programs. However, despite significant improvement and 17 years of working history, there are still gaps in working behavior, business accelerator forms, organizational structure, operations, and outcomes. This systematic review aims to boost the understanding of seed accelerators in innovation and entrepreneurial activities. The Context, Intervention, Mechanism, and Outcome (CIMO) framework was used to collect data from the 53 articles published in the last 17 years. In this current systematic review of applying a CIMO analysis to business accelerators, we retrieved 53 articles for further detailed studies, out of which 21 articles were assessed for the risk of bias analysis. The current review highlights that by providing learning opportunities, idea validation, increased access to growth, and innovation, startup accelerators achieved their goals. Moreover, the study also identified gaps in the literature and opportunities for cohort-based, short-term mentorship programs. The outcomes of the present study will provide suggestions for policymakers, entrepreneurs, managers, and investors. Full article

This paper examines the antecedents of cashless payment systems among businesses in Malaysia. The adoption of cashless payment systems by businesses has the potential to reduce the costs related to handling huge amounts of cash in the market and enhance transaction speed. Unfortunately, its current adoption in Malaysia is still small and very little is known about the factors. A seven-factor model based on the TOE framework was developed and tested. The partial least square (PLS) statistical approach was employed to analyze data collected from 200 business entities in Malaysia. The results reveal that compatibility and technology competence have higher significant relationships with the adoption of cashless payment systems. Management support, firm critical mass, competitive pressure, and information intensity are significantly related to the adoption of cashless payment systems, while firm size is not associated with it. The findings of this study provide significant practical implications for Malaysian stakeholders and technology vendors to recognize factors that affect a firm’s adoption of cashless payment systems to support business transactions. By investigating the phenomenon through the TOE framework, this study presents an integrated model of cashless payment systems by businesses. Our findings also offer guidance for future application of the PLS method in cashless payment and related research. The paper provides a more holistic understanding of the factors influencing cashless payment systems among businesses. Full article

The impulsive live streaming consumption intentions of the Southeast Asian market are examined in this study. Online live streaming transactions, a new form of social media, are becoming popular due to their real-time communication and innovative business concept. Though little attention has been dedicated to it, a theoretical knowledge of Live Streaming Transaction (LST) is crucial given its broad application and unique features. The analysis of 8613 respondents from Southeast Asia in this study, based on flow, temperament, and personality theories, offers fresh perspectives on the mediating role of flow and the moderating effect of temperament in a cross-national setting. Cluster sampling was used to construct a mixed-method conditional indirect effects model. Since introverted temperament types look for voices that echo within them, our findings revealed that LSTs are more intriguing to this market segment. Theoretical and practical elements, as well as implications for future directions, are presented. Full article

The purpose of this research paper is to explore the antecedents and consequences of circular entrepreneurship in emerging markets. The consequences of circular entrepreneurship will be explored through the lens of three dimensions of sustainability: social, economic, and environmental. This study used a multi-case approach, which is frequently applied in circular business literature. The study used convenient and purposeful sampling techniques to identify circular entrepreneurs starting a business by recognizing opportunities in CE. We interviewed the 15 entrepreneurs (all participants engage in plastic circular entrepreneurship) with more than 8 years of experience. We employed a semi-structured interview method because respondents explored important information during the interview. Atlas.ti, a prominent qualitative software package, was used for analysis. This study portrays the antecedents and consequences of circular entrepreneurship identified when circular entrepreneurs take the initiative to serve low-income customers. This study points out that circular entrepreneurs can be motivated both intrinsically and extrinsically. The consequences of circular entrepreneurship show how such enterprises impact on society, sustainability, and the economy. The study points out that circular entrepreneurship can have both positive and negative impacts on the environment. By investigating the determinants and consequences of circular entrepreneurship in emerging markets, the authors make a significant contribution to the field of circular economy and entrepreneurship. We have limited logistics and resources, thus we did not collect data from stakeholders, who might provide a richer picture and insights into how circular products affect their lifestyle. Policymakers can get a better understanding of such enterprises from the findings of this study. They should reassess policies regarding circular entrepreneurship and suggest ways to promote open innovation within circular entrepreneurship. Circular enterprises serve low-income customers by offering an affordable product with attractive features. The government should develop an open innovation action-packed forum to find, design, and create prototypes, as well as introduce more comprehensive sustainable solutions for wastable plastic products. Full article

Open innovation (OI) has been implemented to develop competitive advantages based on the management of innovation with external players. As such, it is expected that the generalized adoption of OI practices needs to be nurtured by governmental public policies in order to enhance OI-based ecosystems. The role of open innovation ecosystems is known by the importance of multiple synergies among players/stakeholders, which are expected to be supported by regulations and funding to consolidate firms’ innovation results. This paper analyzes the role of regulations and funding on firms’ innovation performance using the double-hurdle estimation procedure. The results show that, in the first tier, inbound knowledge flows positively affect performance, and, in the second tier, public funds further reinforce innovation performance and fiscal and security regulations. In contrast, as regulations are perceived as barriers, they fail to impact innovation performance. With this paper, we manage to shed light on the importance of public policy funds in the support of thriving OI-based ecosystems as enhancers of firms’ innovation performance. Full article

Community participation in an environmental corporate social responsibility (CSR) project can help business enterprises effectively develop projects that respond to the actual demands of the community and effectively utilize a firm’s resources. This study aims to investigate factors that affect community participation in each stage of environmental corporate social responsibility project development. The environmental corporate social responsibility project explored in this study is a sustainable mangrove forest management project in the Pakprasae sub-district of Rayong province in Thailand. This study has tested whether enterprise-related factors (such as perceived CSR credibility and organization–public relationship (OPR) quality) and participant-related factors (such as ecological knowledge, perceived ecological values, and expected benefits from participation in the project, both monetary and non-monetary related benefits) could predict community participation in an environmental corporate social responsibility project development initiated by a business enterprise. Questionnaire surveys were administered to 355 community members who were the target group of this environmental corporate social responsibility project from June to July 2022. The collected data were inspected and analyzed using an inferential statistical technique. Multiple regression analyses were performed to test significant factors that affected community members’ participation in planning, implementing, and monitoring the project. The results revealed that perceived ecological values were the strongest predictor of participation in all stages of the project, including planning, implementing, and monitoring the project. Perceived CSR credibility and OPR quality also significantly affected participation in all stages, whereas ecological knowledge significantly affected participation only in the monitoring stage. These findings suggest that to promote community participation in each stage of environmental corporate social responsibility project development, it is important to enhance community members’ perceived ecological values, and community members should be educated in ecology to enhance participation in the monitoring stage. Full article

The rapid evolution of technology and a large number of smartphone users are transforming the way the masses access financial services. Fintech companies consistently innovate in developing customized products and services for users and SMEs to increase financial access and inclusiveness to achieve the Indonesian national financial inclusion target of 90 percent by 2024. Access to digital financial products via Fintech contributes to greater financial inclusion for SMEs, particularly during the COVID-19 pandemic, which restricted economic activities. Using an extended TAM model, this study explores the driving factors of Fintech adoption for Indonesian SMEs during the COVID-19 outbreak. Data analysis of 415 respondents was conducted utilizing Smart-PLS 3.0 software. The findings confirm perceived usefulness, perceived ease of use, government support, trust, and user innovativeness to have a direct positive effect on the intention of SMEs to adopt Fintech. The result also reveals that financial literacy indirectly correlates with Fintech adoption mediated by user innovativeness. This indicates that Fintech could contribute to bridging financial inclusion where SMEs with lower financial literacy can utilize financial products and services via Fintech. This is a positive contribution of Fintech for SMEs in developing economies. The present study suggests that policymakers could foster the expansion of Fintech business infrastructure to improve access to SME financial services. Full article

The active digitalization of the healthcare system has given impetus to the emergence of a new type of enterprise—high-tech medical organizations (HMO). Their main distinguishing feature is the use of innovative high-tech medical equipment. However, the high cost of this equipment has become a factor slowing down the development of such organizations. This paper considers the life-cycle contract (LCC) as a special form of interaction between stakeholders and investments throughout the life cycles of equipment. Moreover, to provide technological support, continuous acquisition and life-cycle support (CALS) technologies, which are based on the same principles of working with the life cycle as LCC, are proposed. This question turned out to be a significant research gap, which was not sufficiently reflected in the available world studies. Thus, the aim of the current study is to describe the features of the use of LCC for HMO using CALS technologies and the impact of the life cycle of high-tech medical equipment on LCC, as well as to present the innovative component of the proposed model. Based on the analysis of the literature and the best world practices, the authors propose a visualization of the interaction of all stakeholders within the LCC for HMO. Such a decision is extremely relevant for developing organizations, public authorities and investors around the world. Full article

The purpose of this study is to analyze how dynamic capabilities are integrated into open innovation to support firms pursuing innovation. Dynamic capabilities enable firms to adjust to emerging changes through redesigning resource configuration. Nevertheless, how dynamic capabilities are integrated into open innovation for obtaining external knowledge and resources has not been observed in previous studies. Utilizing seven small and medium enterprises (SMEs) with various degrees of knowledge and technology intensity as subjects, this qualitative study identified a typology of pathways for integrating dynamic capabilities into open innovation. This study found that firms’ internal resources coupled with complementary assets obtained from open innovation determine what strategies to deploy and what capabilities are needed to execute the strategies. The fit among firms’ resources, strategies, capabilities and emerging business environment is not serendipitous, but rather it must be designed and supported by collective efforts from participants across organizations. In other words, the nature of knowledge and degree of technology adoption determine how sensing, seizing and performing are applied in each phase of open innovation. The main drawback of qualitative study is that it cannot cover a large number of subjects, although it can scrutinize an abundant number of detailed data. Future research can analyze the findings of this study using a survey method covering a large number of firms from various industries so that generalizability can be assured. Full article

This study analyzes the effects of inbound and outbound open innovation, along with organizational strategy and corporate risk management, on competitive advantage and disadvantage in the Portuguese hospitality sector’s cost, service, and product. We use a quantitative approach based on fuzzy set qualitative comparative analysis (fsQCA) of survey data from 251 executive directors of hotels from Portuguese small and medium-sized enterprises (SMEs). The results allow visualization of the interactions of inbound and outbound open innovation with corporate risk management and organizational strategy in order to generate competitive advantage. The results demonstrate that corporate risk management is a keystone for a competitive cost advantage, whereas inbound open innovation plays a fundamental role in obtaining competitive advantages for products and services. Other factors, such as outbound open innovation or those linked with organizational strategy, have less impact, and/or the sign of their influence depends on the configuration of the remaining variables. Full article

Ever-increasing unpredictability has led to recognition of increasing importance of innovation capabilities of businesses. In spite of recognizing such an important issue of innovation capability, not much research has been conducted on the relationship between innovation capabilities in business planning, R&D, commercialization and innovation performance. The current research, thus, intends to provide an empirical analysis of the effect of smart farm companies’ innovation activities on their innovation performance. Classifying innovation capabilities into three categories of planning, R&D and commercialization capability, the current research aims to identify the effect of each category on sales and patent acquired. Moreover, it aims to identify the moderating effect of governmental policy and support for technology on the relationship between innovation activities and performance. It was found that planning, R&D and commercialization capabilities exerted a positive impact on business performance. It was also found that governmental policies and support helped enhance business performance. Full article

The combination of non-fungible token (NFT) with paintings, music, games, videos and other forms of creative content is an innovation to protect the copyright of authors. It digitizes physical works with unique labels. At present, the NFT industry is blooming in the area of digital collections in China, attracting increasingly more artists, art collectors and platform enterprises to interact. However, the NFT digital collection platform is facing challenges and growth limitations. This study adopts the theory framework of responsible innovation. Through semi-structured interview and secondary document review, it analyzes the positive and negative effects of China’s NFT digital collections alongside technological, economical, ethical and social dimensions. The paper proposes four development paths to achieve responsible innovation of this emerging new business. Further discussion links NFT with open innovation dynamics, alongside areas for future research. Full article

Modern innovative models have the possibility of transferring research and development (R&D) output through technology transfer from scientific and research institutions or other enterprises. The complex process of technology transfer is significantly dependent on cooperation among academia, industry, and governments (I4.0) in response to the technological developments driven together through Industry 4.0. As a result, numerous technology transfer factors must be addressed for I4.0 to become a reality. However, the abundance of literature on I4.0 and associated technologies, the key ingredients, and insights for effectively executing I4.0 technology transfer are fairly limited. This study focuses on the success factors of technology transfer for I4.0. The framework is based on systematic literature to outline significant results and factors. Furthermore, this study summarizes, analysis, and criticizes the actual models and their influential variables for I4.0 technology transfer. One of the findings of this study is the significance of cooperation between technology recipients, agents, and inventors for I4.0 technology transfer. Another impressive finding is the significance of the ecosystem component in technology transfer. Combining I4.0 technologies and open innovation is a game-changer, enabling businesses to significantly save time and cost. This article will assist decision-makers in developing policies and strategies to improve the I4.0 technology transfer process. Furthermore, this involves identifying the kind of government assistance that will help accelerate the transition to I4.0 via technology transfer. Full article

This study’s purposes were to examine how selected demographic variables affect frequency of use of precautionary measures when shopping for clothing in retail stores; and how uncertainty avoidance/ambiguity intolerance and fashion innovativeness affect (a) precautionary measures used when shopping in retail stores during a pandemic and (b) compensatory consumption. Participants (122 US men; 209 US women aged 20 to 64) completed an online questionnaire containing demographic items plus measures of uncertainty avoidance/ambiguity intolerance, compensatory consumption, precautionary measures, and fashion innovativeness. Data analysis included reliability, factor analysis, M/ANOVA and SNK. Older adults, adults with higher education, and married adults more frequently used precautionary measures when shopping in retail stores. Men and women reported similar frequency of use. Fashion innovators and consumers with less tolerance for uncertainty/ambiguity more frequently used precautionary measures. Fashion innovators and consumers higher in uncertainty avoidance/ambiguity intolerance engaged in more compensatory consumption. Generalization of the results is limited because the data are context-specific: country (US), time period (during a pandemic), and sample. Guidelines for the general public regarding precautionary measures came from within organizations, between organizations and experts but the general public was not consulted (public open innovation) perhaps hindering compliance with precautionary measures. Full article

Digital transformation has profoundly influenced various socio-economic fields and induced retailing firms to utilize digital innovations to maximize business effectiveness in the digital era. The study aims to pinpoint the motivations for online retailing (ORE) adoption and business performance among Vietnamese businesses in the formative digital transformation stage within an extended technology-organization-environment (TOE) framework. The questionnaire-based data are accumulated for this study. Firm respondents are those who have used and increased their familiarity with ORE in Vietnam. All analysis is performed using structural equation modeling (SEM). The results posit that important factors of technological context (i.e., relative advantage, compatibility, and observability), organizational context (i.e., top management support, entrepreneurial orientation, and technological orientation), and the environmental context (i.e., perceived trend, government support, and legal framework) substantially boost ORE adoption. Additionally, firm age is an essential control variable that strongly influences firms’ engagement in ORE. Unexpectedly, firm size, competitive pressure, and control variable (i.e., number of employees) do not significantly affect ORE adoption. Besides, ORE adoption serves as an underlying motivation for business performance. Ultimately, theoretical and practical implications are discussed. Full article