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Value co-creation in an integrative network approach: the case of an international new venture in the medical technology sector
Högskolan i Halmstad.
(English)In: Article in journal (Refereed) Submitted
Abstract [en]

Purpose – The purpose of this paper is to explore how and why an international new venture co-creates value with different types of network actors during its process of gaining international market acceptance and commercializing a medical technology innovation.

Design/methodology/approach – The study is based on a longitudinal indepth case study approach.

Findings – Five different groupings of actors were identified as playing critical roles in the international new venture’s commercialization process.These groupings were related to the actors’ overall roles and drivers and the ways in which they both give and receive value to each other through different activities and resources. The five groupings are as follows: (1) actors related to improving health; (2) actors related to ensuring healthcare safety; (3) actors related to reducing healthcare costs; (4) actors related to creating opinion and enhancing legitimacy; and (5) actors related to business.

Practical implications – This research reveals the roles of different actors in a healthcare value chain context in which institutional and scientific network actors are specifically important. Moreover, networks that are related to creating positive opinions and legitimacy for the international new venture and its medical technology innovation are also paramount (e.g., media and different non-profit organizations). Finally, business networks are important to achieve competitiveness and to find international distributors.

Originality/value – This study contributes to the international entrepreneurship literature by proposing an extended network model that relates to both non-market-based and market-based networks, including scientific, institutional, opinion creating and business networks.

Keyword [en]
International entrepreneurship, networks, healthcare value chain, innovation, value creation
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:hj:diva-26363OAI: oai:DiVA.org:hj-26363DiVA: diva2:806614
Available from: 2015-04-21 Created: 2015-04-21 Last updated: 2015-06-11
In thesis
1. The role of industry context for new venture internationalization: Evidence from the medical technology sector
Open this publication in new window or tab >>The role of industry context for new venture internationalization: Evidence from the medical technology sector
2015 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

The medical technology sector consists of numerous small niche markets. Approximately 95% are small and medium sized enterprises, many of which are start-ups that develop technological breakthroughs for the healthcare sector. The competition in this sector is highly global. In addition, firms that originate from countries with small home markets, like Sweden, are therefore often pushed to an early internationalization process while commercializing their product innovations. Although the potential demand for the medical technology innovation is global, institutions such as the regulation and financing of the healthcare sector are nation specific. Little is known about how the combination of specific industry context factors influence the internationalisation process in itself and its subsequent outcomes. The overall research purpose in this thesis is therefore to explore how and why the medical technology context influences new venture internationalization. I use a qualitative research method with two in-depth case studies from the medical technology sector to answer my purpose. My thesis contributes to the international entrepreneurship field in several ways. The overall contribution is to illustrate how our understanding of the internationalization process changes when we study a specific empirical context given certain particularities and distinctive factors. The most distinctive factor is that the medical technology sector is embedded in different socio-political systems across nations where the healthcare sector is a concern of each nation’s internal affairs. This means that each country and even regions within a country has its own distinctive regulative, normative and cultural-cognitive healthcare dimensions that affect both sales patterns and internationalization process. Operating in such abusiness-to-institution context leads to a complex sales process as well as a slow and focused internationalization process. The combination of industry particularities also affects the types of capabilities and networks that are critical during an international new venture’s early development. The results also show that various types of networks are needed besides business and social ones, such as scientific, institutional and opinion creating networks. In addition, the need for more specific financial, scientific and regulative capabilities is paramount to complement the technological, marketing and entrepreneurial capabilities.

Place, publisher, year, edition, pages
Jönköping: Jönköping International Business School, Jönköping University, 2015. 130 p.
Series
JIBS Dissertation Series, ISSN 1403-0470 ; 104
National Category
Business Administration
Identifiers
urn:nbn:se:hj:diva-26365 (URN)978-91-86345-60-0 (ISBN)
Public defence
2015-04-24, B1014, Jönköping International Business School, Jönköping, 10:00 (English)
Opponent
Supervisors
Available from: 2015-05-05 Created: 2015-04-21 Last updated: 2015-05-05Bibliographically approved

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Citation style
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