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Extending the Context of Innovation: The Co-creation and Institutionalization of Technology and Markets

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Innovating in Practice

Abstract

This chapter extends traditional, as well as systemic, views of innovation, by advancing an ecosystems perspective on innovation that is based on value co-creation. We draw on a service-ecosystems view, which is grounded in service-dominant (S-D) logic, to integrate and extend prior views on innovation. In particular, we argue that both technologies and markets are shaped by value co-creation and the ongoing negotiation and recombination of overlapping and intersecting institutions. This points toward institutionalization—the development, maintenance, and change of institutions—as a central process by which multiple actors, in dynamic social systems, contribute to the development of new technologies and markets. This co-creative and institutional approach extends the context of innovation beyond firms’ activities and potentially provides a robust, parsimonious, and dynamic context for studying the underlying drivers of innovation. This systemic approach reveals important insights into how collaborative practices that drive the co-creation of value can guide innovation as well.

This chapter is based heavily on Vargo et al. (2015), published in Industrial Marketing Management.

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Author information

Authors and Affiliations

  1. University of Denver, Denver, CO, USA

    Melissa Archpru Akaka

  2. University of Hawaii at Manoa, Honolulu, HI, USA

    Stephen L. Vargo

  3. California State University, Monterey Bay, Seaside, CA, USA

    Heiko Wieland

Authors
  1. Melissa Archpru Akaka
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  2. Stephen L. Vargo
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  3. Heiko Wieland
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Corresponding author

Correspondence to Melissa Archpru Akaka .

Editor information

Editors and Affiliations

  1. University of Naples Federico II, Naples, Italy

    Tiziana Russo-Spena

  2. University of Naples Federico II, Naples, Italy

    Cristina Mele

  3. VTT Technical Research Centre of Finland, VTT, Finland

    Maaria Nuutinen

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Akaka, M.A., Vargo, S.L., Wieland, H. (2017). Extending the Context of Innovation: The Co-creation and Institutionalization of Technology and Markets. In: Russo-Spena, T., Mele, C., Nuutinen, M. (eds) Innovating in Practice. Springer, Cham. https://doi.org/10.1007/978-3-319-43380-6_3

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