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Strategic Value Proposition Innovation Management in Software Startups for Sustained Competitive Advantage, A Strategic Tool for Competitive Advantage
... According to research, companies may use Industry 4.0 technologies-like artificial intelligence and the Internet of Things-to produce novel goods and services, establish new business models, and break into international markets [11]. Moreover, open innovation with independent contractors, clients, and academic institutions can help startups cultivate value proposition innovation, resulting in improved performance and a competitive edge [12]. Moreover, the COVID-19 epidemic has stimulated innovation, and theories like the resource-based approach, diffusion of innovation, and creative destruction might assist startups in navigating the changing business landscape [13]. ...
... These transcend material resources and comprise relationships, knowledge, and abilities that add up to a long-term competitive advantage. Diverse viewpoints can help startups be more innovative and adaptable [34], [35], [12], [36].These results are in line with the worldwide appeal for diversity to act as a spur for commercial success [37], [38], [39]. ...
The relationship between technological integration, diversity on the board, and intellectual capital management and how these factors affect the financial performance of Indonesian start-ups is examined in this study. Structural Equation Modeling (SEM) using Partial Least Squares (PLS) approach is used in this work to evaluate the intricate interactions among these critical parameters using a diverse sample of 195 start-ups. A thorough knowledge of the dynamics that influence startups' financial success is facilitated by the use of descriptive statistics, measurement model assessment, and structural model analysis. The findings indicate that there are strong positive correlations between financial performance and board diversity, intellectual capital, and technological integration. Furthermore, the mechanisms involved are clarified by mediation effects. The model explains half of the variance in financial performance (R2 = 0.504) and demonstrates strong predictive relevance (Q2 = 0.354). For practitioners, politicians, and investors navigating Indonesia's competitive start-up entrepreneurship scene, the findings provide insightful information.
... While traditional marketing approaches are essential, the emergence of social media has changed the dynamics of customer engagement, offering new avenues for businesses to connect with their target audiences [5]. Startups, especially in the software industry, face challenges due to novelty and limited resources, making open innovation a valuable tool to drive value proposition innovation and maintain competitive advantage. ...
This research investigates the impact of posting frequency, content quality, and interaction with customers on social media on customer loyalty in start-up businesses. A quantitative approach is employed, with data collected from 190 start-up owners or marketing professionals responsible for managing social media accounts. Structural Equation Modeling with Partial Least Squares (SEM-PLS) is used for data analysis. The findings reveal significant positive relationships between posting frequency, content quality, interaction with customers, and customer loyalty. Content quality emerges as a strong predictor of customer loyalty, highlighting the importance of creating engaging and relevant content. Active interaction with customers on social media platforms also positively influences customer loyalty, fostering stronger relationships and brand advocacy. While posting frequency plays a role in maintaining brand visibility, the quality and relevance of content are found to be paramount. These findings have practical implications for start-up businesses seeking to enhance customer loyalty through effective social media engagement strategies.
... These collaborations offer startups the opportunity to tap into the expertise of seasoned professionals, leverage valuable networks, and receive structured developmental processes that include educational components and intensive mentoring. Additionally, the involvement of startups with established firms can lead to the exchange of innovative ideas and knowledge, fostering value proposition innovation and enhancing the startup's dynamic capabilities [53]. By leveraging these partnerships, startups can overcome the challenges posed by their newness and small size, ultimately driving sustained competitive advantage through continuous innovation and strategic relationships with mentors and industry partners. ...
This research investigates the effect of access to finance, government support, and industry collaboration on startup success in the Cikarang region through quantitative analysis. A sample of 120 startups participated in an online survey, rating their perceptions and experiences on a 5-point Likert scale. Data analysis utilized Structural Equation Modeling with Partial Least Squares (SEM-PLS 3). Results indicate significant positive relationships between access to finance, government support, industry collaboration, and startup success. Access to finance and government support demonstrate direct positive effects on startup success, while industry collaboration acts as a mediator, enhancing the impact of financial resources on startup outcomes. The study highlights the importance of fostering a supportive regulatory environment, enhancing access to financial resources, and promoting collaborative partnerships to nurture a vibrant startup ecosystem in Cikarang.
... SMEs and startups face numerous obstacles in improving their market share because of a lack of financial and other resources. However, since dynamic capabilities can drive value proposition innovation in startups [91], founders and managers of these ventures can develop GDC to boost green innovation performance and competitive advantage. Managers can nurture GDC by proactively identifying and seizing environmental opportunities while reconfiguring resources to address sustainability challenges effectively. ...
Our study explores the association between the adoption of green technology and the development of green dynamic capabilities to achieve green competitive advantage. This research concentrates explicitly on the mediating function of green product innovation. The study is grounded in the dynamic capabilities theory and seeks to improve understanding regarding how organizations can attain a competitive edge by employing green practices and capabilities. Data were obtained from 312 manufacturing business managers in Bangladesh. We utilized the partial least squares structural equation modeling (PLS-SEM) method to examine the data and evaluate the proposed hypotheses. The empirical evidence suggests that both green technology adoption and green dynamic capabilities significantly impact firms’ green product innovation and competitive advantage. Additionally, the findings indicate that green product innovation is a mediating variable in the association between green technology adoption-green competitive advantage and green dynamic capabilities-green competitive advantage. This research adds to the current body of literature by presenting empirical findings highlighting the crucial role of green technology and dynamic capabilities in promoting green competitive advantage. Our results reveal that it would be beneficial for organizations to prioritize adopting eco-friendly technologies and cultivating dynamic capabilities to improve their overall green performance. The present study contributes significantly to the literature by offering insights into the strategies managers and policymakers can employ to attain sustainable competitive advantage in the manufacturing sector.
For American businesses trying to expand internationally, the embassies serve as a crucial component of the innovation ecosystem. By utilizing their close professional relationships with stakeholders like governments, market experts, local consumers, and local public institutions, they boost access to information about international markets. Since foreign markets differ from domestic markets, expanding internationally necessitates adaptations and/or innovations to current business models. An accurate international market study should be the foundation for successful adaptations or innovations. The cost of the assistance provided by embassies appears to be minimal to the firms. From the perspective of SMEs, support policy innovations appear to be required. SMEs don't appear to be in a position to decide which embassy resources they need and take the best advantage to internationalize, given their liability of newness and smallness. This makes it clear that support policies should provide these SMEs with more holistic, organized, and thorough help that is customized to their specific needs, business size, product category, and industry of operation. Additionally, SMEs must align their innovation strategies with the innovation support policies of a nation, which are pushed out through by different institutions, for instance, embassies abroad. As they must take part in SMEs' innovation management processes in global marketplaces, embassies play a role more akin to boundary spanners or co-innovators. Strategic alliances with university libraries may also aid embassies in improving their commercial diplomacy because they can co-create with SMEs to innovate their services and SMEs benefiting from improved globalization assistance.
Pandemic situations impact the ability of the startups to identify the product features that have match with market needs: the activity that requires direct interaction with the customers at the same physical space. Online tools can overcome this limitation, but early-stage startups have too limited resources and lack of access to the potential customers, which make their online interactions quite limited. The divergent creativity is required to identify the requirement elicitation methods and tools that could help startups to identify product/market fit with limited same physical space interaction with customers. The open innovation involving academia, experts, and researchers could help startups to get access to the market needs. This chapter reports one such consulting experience of the author with the Madrid (Spain)-based startup which successfully identified its market in pandemic time through global market research driven by secondary studies, primary research involving potential clients (or users) through online means, and limited interactions at the same physical space. Daily brainstorming with a team of researchers, experts, and professors helped to generate divergent ideas about identifying markets amid the pandemic and testing them in real context that proved to be successful for the startup. Overall impact is the ability of startup to innovate its business model for foreign markets.KeywordsStartupsStartup-academia partnershipsCoronavirusBusiness model innovationCreativityGlobal market research
Innovation is fueled by customer feedback. Market success is dependent on gathering client feedback and making company decisions based on it. The reason for this is because firms with newness and smallness liabilities had a limited understanding of their target market. This is due to the product being too original at first, with little market. Customer input is an important aspect of business model innovation since it helps to improve customer interactions. This chapter examines feedback management in the context of startups, with a special emphasis on pandemic practices. The reported data is based on an evaluation of insights from real feedback management techniques of numerous industries’ early-stage European startups throughout the outbreak. Some of the many feedback acquisition tools addressed in this chapter are Facebook, LinkedIn, Twitter, WhatsApp, emails, websites (made on Wix and WordPress), Slacks, Google Forms, Skype, and Zoom. The framework for implementing feedback collecting technology is offered with the goal of improving selection decisions that are made in response to it. The decision to include only these tools stems from the fact that throughout the epidemic, the startup community made great use of these technologies. Finally, the process for gathering and analyzing customer feedback and the underlying technology for feedback management greatly depend on the startup life cycle as well as whether the business is concentrating on domestic or international markets.
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