Sustaining Innovative Success: A Case Study on Consumer-Centric Innovation in the ICT Industry

Minkyung Choy and Gunno Park
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Minkyung Choy: Management Research Center, Seoul National University, 1 Gwanak-ro, Gwanak-gu, Seoul 151-916, Korea
Gunno Park: Technology Strategy and Planning Team, Samsung SDS, SDS West Campus 22F, 125, Olympic-ro 35, Songpa-gu, Seoul 138-240, Korea

Sustainability, 2016, vol. 8, issue 10, 1-13

Abstract: The phenomenon of innovation growing rapidly and having a shorter lifespan is a structural change due to the development of ICT (Information and Communications Technology), diverse investment methods, and reduced pattern of innovation adoption. For ICT companies to survive and maintain their success in this ever-changing environment, they need to succeed in fulfilling both productivity and accuracy of innovation. To sustain their innovative success, ICT companies should consistently maintain the direction of innovation towards consumers. The present study analyzes various cases of ICT companies which succeeded or failed to maintain their prior innovative success, and suggests consumer-centric innovation as a solution. To create consumer-centric innovations, companies have to (1) predict the dynamically evolving demand of consumers and continuously transform; (2) proactively employ observation method and big data analysis to discover hidden demands; and (3) identify hassles such as wastes, inconveniences, and anxieties, and put effort in solving these hassles.

Keywords: sustainable innovation; consumer-centric innovation; sustainability; consumer hassle; behavior observation; big data analysis; ICT industry (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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