Page 447 - Kaleidoscope Academic Conference Proceedings 2024

Innovation and Digital Transformation for a Sustainable World

4. GROWING INFLUENCE OF TECHNOLOGY: with a lack of clarity on understanding the problem may suit
A NEW TREND disruptive innovation (basic innovation) if the skill domain
needed is clear (not clear).
The technological innovations and their use cases may be
classified into three types. First, incremental technology Disruptive innovation is suited for scenarios where the best
relies on small innovations and changes in already existing practices (continuous improvement in the product, changes
technology, which may lead to significant improvement in in the marketplace, listening to customers' inputs, and
products and services. Second, the semi-radical technology bottom-line focusing) fail to deliver, indicating a shift in the
is similar to incremental innovation except for the difference basis of competition. In this scenario, the business model
that here the existing knowledge is improved akin to canvas and value proposition canvas-based innovation may
innovation. Third, disruptive technology innovation, results work. Here, setting up innovation labs under a venture
in the disruption of existing technology by challenging its capitalist funding approach is recommended.
relevance, usefulness, and value.
Basic research may lead to pathbreaking innovations
4.1 Futile search for a universal innovation strategy (discovery of some new phenomenon) which can change the
world. Setting up research divisions (which may be
When encountering a really hard problem, it is often supported by large enterprises), academic partnerships, and
advisable to expand experts in multiple related domains [12]. publishing in journals and conferences are effective for
It is argued that every innovation strategy suffers from innovations happening in this quadrant.
failure at some stage and that there is no true surest path to
innovation. 4.2 Sustainability issues

Schumpeter introduced the “creative destruction” concept as
a new invention appears next to and eliminates the existing
Quality of problem definition Well defined Basic Innovation Disruptive Innovation growth model emphasized that after reaching long-run
technology through competition [13]. Solow’s exogenous
Breakthrough
Sustainable
Innovation
Innovation
equilibrium, the growth rate per capita happens and is
sustainable provided some significant technical progress
occurs [14]. The endogenous growth theories [15] and [16]
use human capital as a central assumption. Another study by
Lacking
Audretsch established how Solow’s growth model links
entrepreneurship capital to economic growth [17].
Well defined
Lacking
The study [18] examined how sustainability-conscious
Identification of skill domain innovation and technology transfer can assist in achieving
green growth and the effect of resulting green growth on the
Figure 3 – Four types of innovation strategy goal of economic growth.

The secret lies in defining the problem correctly and 4.3 Ever-increasing dominance of technology hype
identifying the requisite skill sets to solve it [12]. Figure 3
depicts the four possible strategies for innovation based on A critical view considers technology hype or innovation
the quality of problem definition and identification of the hype as an overstated, inflated, deceptive, and erroneous
skill domain: basic innovation, disruptive innovation, prediction about its potential. On the contrary, Van Lente et
breakthrough innovation, and sustainable innovation. al. [19] defined the technology hype of a specific technology
as a promise that it holds in the future while exhibiting
Sustaining innovation is characterized by the best adequate performance capacity as it coordinates activities,
synchronization between the approach to solving the collates resources, and invites competition. Looking from the
problem and the skillset required. Design thinking approach, perspective of stakeholders, including policymakers and
along with framing a strategic roadmap, setting up R&D labs, regulators, the hype may present an opportunity and pitfall.
and recruiting talents with matching skills and their Consultancy agencies often use hype cycles to influence
capability upgradation are effective in this quadrant. performance expectations and strategic decisions on priority
and investments.
The cases with clarity on a problem statement but requiring
exploration of unconventional skillsets domains are Businesses connect innovation to profit-making and often
categorized under the breakthrough innovation quadrant. overhype it [20]. In the words of Rita Brown, a business
Here open innovation approach and skunk works (small sub- teacher - “Competition drives innovation, and with our
unit operating outside traditional or normal procedures and current global environment, innovation is a must for
systems). For instance, the detection of pollution in companies to survive”.
underwater locations may need exploring teaming of a
marine biologist in the team of chip designers. The scenario

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