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Transformation and change process in innovation models: start-up and mature companies
by Michael Lewrick, Robert Raeside
International Journal of Business Innovation and Research (IJBIR), Vol. 4, No. 6, 2010
Abstract: The transformation from a start-up company to a mature company asks often for dramatic change of capabilities to sustain innovations and business success. Increasing maturity results in the need to adjust the innovation style of a company. This paper has the objective to explore the dynamics behind innovations, what capabilities are needed at which stage of companies life cycle, and the challenges to innovate in transformation. Over 200 high-technology companies have been examined to observe the transformation from a start-up phase to a more mature phase of business. Results indicate the importance of market orientation, knowledge, management capabilities, social networks to innovation, success and sustainability. The study reveals that major changes are required in knowledge enhancement and acquisition, the use of formal social networks and the establishment and use of performance networks to allow a successful transition to a sustainable mature company.
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