Divergent thinking and market visioning competence: An early front-end radical innovation success typology

Abstract

Achieving superior and longer-term rewards associated with the pursuit of radical innovation requires that firms have a market vision (MV), or a clear and specific image of a desired and important product-market for a new technology, and are able to attract human and investment capital (AAC) in order to carry out and finance these risky ventures. To achieve these outcomes, firms need to build a market visioning competence (MVC)-that is, an ability to link advanced technologies to market opportunities of the future. Developing an MVC entails the efforts of both the individuals who are part of the innovation process and the organization itself. Four components comprise the MVC equation: the in..