The study examines the perceptions of entrepreneurs and innovators regarding radical innovation (RI). Emphasis was squarely on the perceptions innovators hold of RI, to lay bare psyche and mindset in this regard. Given this specific focus, experience of RI was not deemed necessary, only general entrepreneurship and innovation experience. It is believed that any sufficiently experienced innovator would have constructed some perception of RI, and that this greatly impacts attitude towards RI. The study considers comprehension regarding general RI principles, perceived requirements for RI, and general knowledge of RI method. Overall, incremental innovation (II) dominates, and RI enjoys little regard and preference. This is due to the perceived risk, lack of support, and consequently, the cost to the entrepreneur. It may also be impacted by innovation style, and broader factors, like innovation culture and environment. Understanding of RI is simultaneously promising and lacking. There are...
Category - Brian BARNARD
Wits Business School, University of the Witwatersrand (WITS), South Africa
Grounded theory is used to examine the relationship between benefit and innovation. The benefits of a broad array of products were considered, and a list of benefit and functionality categories was devised. 84 products were considered, with little (no) restriction on brand, industry, or time frame. From this 16 benefit categories and 17 functionality categories were listed. These benefit and functionality categories are seen as universal, and not product or industry or time specific. Benefit was equally examined and categorized from the vantage point of market entry and the replacement of existing or incumbent products. The notions of core benefit/ functionality, as well as necessary and redundant benefit/ functionality, were also used. Universal benefit and functionality categories should aid innovators and entrepreneurs, and bring greater coherency to their efforts. Also, benefit and functionality may equally reflect on customer satisfaction.