{"title":"HOW FORMALISATION AND CONNECTEDNESS MODERATE THE EFFECT OF FORESIGHT ON RADICAL INNOVATION: EMPIRICAL EVIDENCE FROM EUROPEAN COMPANIES","authors":"Djordje Pinter, K. Leitner, Fiona Schweitzer","doi":"10.1142/s1363919622500591","DOIUrl":null,"url":null,"abstract":"While strategic foresight is relevant for radical innovation, many companies fail to produce radical innovation despite blown-up foresight units. We take into consideration the extent of formalisation and social connectedness in a firm to consider how they moderate the effect of strategic foresight on a firm’s ability to produce radical innovations. In a multi-industry study among 212 European companies, we find that formalisation and connectedness interact to enhance the effect of strategic foresight on radical innovation. When formalisation and connectedness are both high, they jointly improve a firm’s ability to use strategic foresight to produce radical innovation. When social connectedness is low, high formalisation, however, reduces a firm’s ability to turn foresight action into radical innovation. We discuss these findings relative to the controversial role of formalisation in radical innovation and provide managerial advice based on our findings.","PeriodicalId":47711,"journal":{"name":"International Journal of Innovation Management","volume":" ","pages":""},"PeriodicalIF":1.3000,"publicationDate":"2023-02-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Innovation Management","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1142/s1363919622500591","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"MANAGEMENT","Score":null,"Total":0}
引用次数: 0
Abstract
While strategic foresight is relevant for radical innovation, many companies fail to produce radical innovation despite blown-up foresight units. We take into consideration the extent of formalisation and social connectedness in a firm to consider how they moderate the effect of strategic foresight on a firm’s ability to produce radical innovations. In a multi-industry study among 212 European companies, we find that formalisation and connectedness interact to enhance the effect of strategic foresight on radical innovation. When formalisation and connectedness are both high, they jointly improve a firm’s ability to use strategic foresight to produce radical innovation. When social connectedness is low, high formalisation, however, reduces a firm’s ability to turn foresight action into radical innovation. We discuss these findings relative to the controversial role of formalisation in radical innovation and provide managerial advice based on our findings.
期刊介绍:
The International Journal of Innovation (IJIM) is the official journal of the International Society of Professional Innovation Management (ISPIM). Both the IJIM and ISPIM adopt a multi-disciplinary approach to addressing the many challenges of managing innovation, rather than a narrow focus on a single aspect such as technology, R&D or new product development. Both are also international, inclusive & practical, and encourage active interaction between academics, managers and consultants.