The Approach of Value Innovation towards Superior Performance, Competitive Advantage, and Sustainable Growth: A Systematic Literature Review

Mohammed A. Hajar, Ammar Ahmed Alkahtani, Daing Nasir Ibrahim, Mohd Ridzuan Darun, Mohammed A. Al-Sharafi and Sieh Kiong Tiong
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Mohammed A. Hajar: Faculty of Industrial Management, Universiti Malaysia Pahang, Lebuhraya Tun Razak, Kuantan 26300, Pahang, Malaysia
Ammar Ahmed Alkahtani: Institute of Sustainable Energy (ISE), Universiti Tenaga Nasional, Kajang 43000, Selangor, Malaysia
Daing Nasir Ibrahim: Faculty of Industrial Management, Universiti Malaysia Pahang, Lebuhraya Tun Razak, Kuantan 26300, Pahang, Malaysia
Mohd Ridzuan Darun: Faculty of Industrial Management, Universiti Malaysia Pahang, Lebuhraya Tun Razak, Kuantan 26300, Pahang, Malaysia
Mohammed A. Al-Sharafi: Department of Information Systems, Azman Hashim International Business School, Universiti Teknologi Malaysia, Skudai 81310, Johor, Malaysia
Sieh Kiong Tiong: Institute of Sustainable Energy (ISE), Universiti Tenaga Nasional, Kajang 43000, Selangor, Malaysia

Sustainability, 2021, vol. 13, issue 18, 1-33

Abstract: The value innovation strategy of pursuing differentiation and low cost has diverged and correlated with various notions and perspectives, which adds complexity and ambiguity to the current knowledge of value innovation. Thus, this study uses a systematic literature review methodology to identify key scientific contributions to the field of value innovation by providing a structured reliable overview of the current knowledge. This study aims to integrate the findings of previous research on value innovation to identify where conclusions converge and diverge and highlight emerging trends and gaps in the literature. This study seeks to answer the research question, “How can value innovation be an approach for superior performance, competitive advantage, or sustainable growth?” In this context, results are achieved through analyzing and synthesizing 73 empirical articles on value innovation literature published from 1997 to January 2021. Particularly, this study contributes to the extant literature by providing an integrative framework that summarizes the literature findings and addressing thematic classifications of the value innovation process. This study also helps further improve research on value innovation by identifying gaps and suggesting a conceptual model to mitigate those gaps.

Keywords: value innovation; blue ocean strategy; innovation; systematic literature review (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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