Corporate Innovation Strategies

5Development Strategies of CSV-based Innovative Business Models

Clearly, the levers of the ecosystem (vision, societal project and partnership) play a decisive role in developing societal innovations capable of creating shared value and in facilitating their implementation. According to Johnson et al. (2014), business model innovations consist of four interconnected elements that together create and produce value. The first element is the timeline. In terms of innovation, is it better to be a first mover or a fast follower? When is an innovation likely to reach the tipping point at which demand rises sharply? When does an entrepreneur need to bring in external managers and when should he or she consider pulling out? The second element relates to collaboration. The development of innovations and the creation of new businesses is rarely a solitary task and usually requires fruitful collaboration. These can take many forms: between a company and its customers, between large companies and small start-ups, and even between private companies and social entrepreneurs. The third element is associated with the nature of the innovation that the company wishes to develop. According to these authors, managers must find a balance between technological development and market expectations and then determine the relative influence of product innovations (the product or service marketed, particularly in terms of functionality) and process innovations (the way in which this offering is developed ...