Economics at your fingertips  

Measuring the degree of novelty of innovation based on Porter's value chain approach

T. Koc and E. Bozdag

European Journal of Operational Research, 2017, vol. 257, issue 2, 559-567

Abstract: Measurement of the degree of novelty is extremely important to avoid risk and carry out a sound innovation process. This research attempts to offer a different conceptual framework to understand and measure the degree of novelty of an innovation. It is based on Porter's value chain approach and proposes a process-oriented model that considers the possible impact of a particular technology on the discrete business processes in a firm's value chain. A new technology employed by companies is expected to impact the value chain activities by requiring reorganization in the current value chain of the company. The 2-additive Choquet integral is used to measure how such impacts will be reflected on the degree of novelty of that technology. An application of the proposed model to technology alternatives for the energy sources of electrical automobiles is presented. The model is applied in a battery manufacturing company. Technology alternatives to be measured in terms of the degree of novelty consist of the nickel metal hydride battery, the lithium-ion battery and fuel cell technologies. The results indicate that fuel cell technology has the highest degree of novelty among the three energy sources for electrical automobiles.

Keywords: OR in research and development; Degree of novelty; Innovation; Value chain (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed

Downloads: (external link)
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

European Journal of Operational Research is currently edited by Roman Slowinski, Jesus Artalejo, Jean-Charles. Billaut, Robert Dyson and Lorenzo Peccati

More articles in European Journal of Operational Research from Elsevier
Series data maintained by Dana Niculescu ().

Page updated 2017-09-29
Handle: RePEc:eee:ejores:v:257:y:2017:i:2:p:559-567