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Only the Brave: Product Innovation, Service Business Model Innovation, and Their Impact on Performance
Open accessAbstract
Recent empirical findings concerning the performance effects of service business model innovation (servitization) and its interplay with product innovation are mixed. Using the lenses of the demand‐based view on value creation and complementarity, the performance impact of two key service business models is examined: the product‐oriented model and the customer‐oriented model, implemented jointly with product innovation. Results indicate that the interplay between service business model innovation and product innovation results in long‐term performance benefits coupled with a degree of short‐term performance sacrifice. Service business model innovation in isolation from product innovation results in short‐term profit gains but long‐term knowledge loss and, thus, market performance decline. Our study suggests that firms need to look beyond the evidence on short‐term effects in order to achieve superior performance in the long run.
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Cited by
Fortune favors the prepared: How SMEs approach business model innovations in Industry 4.0
Müller, J. M., Buliga, O., & Voigt, K.-I. (2018) · Technological Forecasting and Social Change · doi:10.1016/j.techfore.2017.12.019 · Cited by 1,262
Li, F. (2020) · Technovation · doi:10.1016/j.technovation.2017.12.004 · Cited by 733
Service growth in product firms: Past, present, and future
Kowalkowski, C., Gebauer, H., & Oliva, R. (2017) · Industrial Marketing Management · doi:10.1016/j.indmarman.2016.10.015 · Cited by 328
Hameed, W. U., Nisar, Q. A., & Wu, H.-C. (2021) · International Journal of Hospitality Management · doi:10.1016/j.ijhm.2020.102745 · Cited by 328
The impact of service innovation on firm performance: a meta-analysis
Feng, C., Ma, R., & Jiang, L. (2021) · Journal of Service Management · doi:10.1108/josm-03-2019-0089 · Cited by 125
Metadata
- Authors
- Visnjic, I., Wiengarten, F., & Neely, A.
- Venue
- Journal of Product Innovation Management
- Publisher
- Wiley
- Published
- 2014-11-25
- Volume
- 33
- Issue
- 1
- Pages
- 36-52
- ISSN
- 0737-6782 (ISSN-L)
- 1540-5885
- OpenAlex
- W1510593200
- Cited by
- 488
- References
- 96
- FWCI
- 45.96
- Type
- journal article
- Language
- en
- Open access
- bronze
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
