Marko Torkkeli

Lappeenranta – Lahti University of Technology LUT · Business School

“Addressing the climate challenge presents a golden opportunity to promote prosperity, security and a brighter future for all.”Ban Ki-Moon, Former Secretary-General of the United Nations. Humanity is pushing the earth system beyond its natural limits. Rapid population growth and exponential consumption exert synergistic and compounded strains on ou...

Innovation portfolio management (IPM) is a critical planning phase for organisations to visualise all possible growth opportunities and strategically allocate resources. However, to maximise the probability of business growth, it is necessary to follow a robust structured portfolio process. This paper analyses research and highlights several succes...

Not only the commercial side of the supply chain is critical for long-term sustainability, but also the focus on environmental and social issues ensured the emergence of a more universal and holistic perspective to the supply chain. A more sustainable future supply chain network requires more improvement in tracking and transparent reporting system...

Open innovation(OI) is known to increase innovation success rates of new products through its multidimensional strategies. However, it can be challenging for managers to select suitable OI strategies for their respective products, often involving trial and error and time-consuming data-intensive analytics given the dynamic business environments. Th...

This book gives insights into important factors that are shaping effective learning for sustainability and describes innovative teaching formats that will enable students to contribute to a more sustainable world in their future role as decision makers. Basic concepts in the context of sustainability-related teaching and learning are defined and th...

End of Year Message (...)

A few months ago, we claimed that COVID-19 had the potential to be a catalyst for change and innovation (Mention et al., 2020). Undeniably, this has indeed eventuated, but to a scale that was unforeseeable and unpredictable to many. Over the last few months, the world has literally changed. Around the world, people and communities have seen their l...

Literature is the noblest of all the arts. Music dies on the air, or at best exists only in memory; oratory ceases with the effort; the painter’s colors fade and the canvas rots; the marble is dragged from its pedestal and is broken into fragments. Elbert Hubbard At a very early age, we start to develop a sense of playfulness. We touch things, we...

As we write this editorial, people around the world are apprehensive about their future; some are at home; some are thinking about the loved ones they cannot visit; some, unfortunately, are dying. We watch the graphs and listen to the daily news of new coronavirus cases, but be it just one or one thousand, for the those close of the ones affected,...

We initiated this series with a view to catalyse and extend the focus on conceptualisation and application of behavioural science methods for managing innovation, albeit from a whole human perspective. We started with the notion that how to increase individual (human) creativity, collaboration productivity and innovativeness in innovation projects...

In our previous editorial, we positioned our perspective and introduced the acronym “ROTRUS” to characterise the science of managing for innovation as – Real world, Observable, Testable, Replicable, Uncertain and Social. Specifically, we argued that methods that draw on point-in-time beliefs, perceptions and de-humanised data in a complex and evolv...

Some might argue that ever so nimble and responsive innovation paradigms can rarely be managed scientifically. We propose a more inclusive perspective. Science of managing for innovation has certain characteristics which we identify through the acronym “ROTRUS”- Real-world, Observable, Testable, Replicable, Uncertain and Social. Real-world refers t...

‘Our mind-set will be to avoid the moonshot’ said Boeing CEO James McNerney at a Wall Street analysts meeting in Seattle nearly 5 years ago (see Gates, 2014). The ambitious, exploratory and risky endeavour dubbed as moonshot project of the Boeing 787 Dreamliner had sunk billions of dollars in an industry where end-users demanded more comfort and co...

Knowledge has always been, and still is, a crucial source of economy. However, during the past few years we have seen a growing interest in treating knowledge as a significant organizational resource for innovation. This trend coincides with the rapid development of ICT, indicating the strong influence that ICTs have on the processes of creating, d...

Reviews of literature including systematic meta-analysis are invaluable to advance science and guide directions for future research. The premise for conducting reviews is well established (Dickersin & Berlin, 1992; Glass, 1976). Systematic reviews in a field gather scholarly efforts on a topic, theme, population, setting and treatment conditions to...

Wisdom of the crowds, Technological capabilities and Functional alignment, which when recognised and utilised in innovation processes, can unlock the ability to source, develop and commercialise ideas at rapid pace. The phenomenon is known as technological convergence. By definition, technological convergence is described as the process by which In...

Wisdom of the crowds, Technological capabilities and Functional alignment, which when recognised and utilised in innovation processes, can unlock the ability to source, develop and commercialise ideas at rapid pace. The phenomenon is known as technological convergence. By definition, technological convergence is described as the process by which In...

The story of societal progress has long been acknowledged to involve two brothers - management research and management practice (Beyer, 1982). Although, reared by the same knowledge core (Poole and Van de Ven, 1989; Wallin and von Krogh, 2010), the brothers in a display of their contrasting lives behave independently, often disparately. Their disti...

This paper analyses Knowledge Sharing (KS) behaviour of employees during unplanned, work-related face-to-face meetings with colleagues. Hypotheses were formulated from theory on how this behaviour relates to three categories of known KS antecedents (knowledge components, organisational distance, and network aspects). Data are obtained from detailed...

Were you ever asked by a manager to ‘do what you want’, where you felt free to innovate? Did it feel like freedom? Maybe you felt encouraged since you could now experiment your idea, but did it mean that your performance was now on the radar? Could you then stay true to your vision or did you feel the need to compromise so that the ‘numbers lined u...

Have you ever been a tourist or a traveller? How did you plan that? What experiences did you collect? Ask a tourist and they will tell you that it is all about maximising time and money – see as many things as possible, take a picture and move on. Ask a traveller and they will tell you all about the hidden secrets of the land, how they felt when th...

In the last issue of 2015, the editorial was titled “Winter is coming: The dawn of Innovation?“ As almost 2 years have gone by, this topic was revisited. So why not wonder how innovation was going around this same time of the year? In trying to answer this question, a visit to Google© Trends revealed an interesting and possibly unexpected chart tha...

What makes a good innovation management article? Let’s have a look at articles which incidentally have got the highest citations in the field of innovation management. These articles may give us some ideas on what a good innovation management publication entails. Notions below are not fully covering what should be included in article from introduct...

It is common knowledge that history repeats itself! Maybe not literally, but patterns of behaviour likely dependent of the human nature, are probably prone to repeat themselves. So, one may wonder if looking back could help us prepare for a better future. Moreover, by looking back at the history of people and societies, we should all be able to hav...

The aim of this study is to explore how an accelerator could succeed. We found that fundamental preconditions for success might be the access to relevant business competences and the ability to transfer it to a startup. On the other hand, the dynamics of acceleration organisation might be a restricting factor for business knowledge use and action....

Delivering impact is nowadays on top of the agenda of universities, worldwide. But what exactly does that mean? Universities' primary mission is to educate the young generations, by providing them with basic knowledge on a wide array of topics and disciplines and most importantly, by training them how to continuously learn - learn by doing, by refl...

Academic literature increasingly stresses the predominance of openness in contemporary organizations - porous boundaries, virtual and agile teams, temporary hierarchies, interconnectedness of networks and ecosystems. Managerial literature also abundantly depicts the benefits of openness. In contrast to what is being observed and reported at organiz...

Innovation rarely occurs in isolation, and firms increasingly exploit cooperation strategies to increase their innovation propensity and performance. Empirical research concentrating on the breadth of cooperation practices, as well as the variety of objectives pursued in the context of innovation strategies remains scarce, and even more so for emer...

The involvement of customers for new service developments is an area that receives considerable research attention, yet its exact outcomes and process are found to be ambiguous. Therefore, different contexts should be studied to capture the multifaceted nature of service innovations. This research focuses on the results of a survey in an internatio...

Knowledge builds on itself. Scientific progress is achieved through piecewise advances, and is based on the enlightenment of prior evidence and discoveries. Accessing prior information has been a tremendously complex venture for centuries, and restricted to the privileged few. Technological progress and namely, the advent of Internet have opened a...

This Spring Issue will discuss about big data and multiple aspects of its usability and applicability. Many of us have seen blockbuster movies Back to the future (premiere in 1985), The Terminator (1984) or Minority report (2002). The unifying element of the above mentioned movies is that manuscripts are introducing a superior competitive advantage...

Open Innovation: A Multifaceted Perspective unveils research on open innovation from multidisciplinary perspectives and with practical insights from leaders and policy-makers. The first section addresses the links between open innovation and various disciplines, methods, concepts and policy instruments. The second section reviews selectively the li...

As stated by the Cambridge on-line dictionary, Editorial, as a noun, is “an article in a newspaper that expresses the editor's opinion on a subject of particular interest at the present time”, whereas/and as an adjective, Editorial is “relating to editors or editing, or to the editor of a newspaper or magazine“. On the other hand, about the definit...

This Fall Issue will discuss about the power of technology and Internet. Innovation is taking place everywhere through new and emerging technologies changing the way we think, live, breathe, travel, and do shopping to name a few areas. Funny enough is that some of us believe that the most important technologies are on the market available to please...

The involvement of customers for new service developments is an area that receives considerable research attention, yet its exact outcomes and process are found to be ambiguous. Therefore different contexts should be studied to capture the multifaceted nature of service innovations. This research focuses on the results of a survey in an internation...

Cooperation has always been recognized as a valuable resource for creating innovation outputs (Chesbrough et al. 2003). This should also be interesting for emerging country settings and this research uses a unique data set from Turkey. Methodologically we apply a similar method as the one proposed by Leiponen and Helfat (2010) but we explore more d...

Open Innovation has been attracting an increasing interest from academics and practitioners alike over the last decade. Companies are increasingly prone to engage in Open Innovation journeys, yet they face a myriad of challenges, including the fact that their workforce is not endowed with skills that are required to smoothly implement Open Innovati...

Since Henry Chesbrough coined the term of Open Innovation in 2003, it has attracted increasing interest from academics, practitioners and policy-makers alike. More than a decade after, some noticeable and contrasted facts emerge. First, Open Innovation has deeply penetrated the research realms, across disciplines, yet mainly in business, economics...

This qualitative empirical paper, by talking across discipline lines and adopting a multidisciplinary approach, aims at shedding light to the highly neglected and under-developed human side of open innovation by bringing insights from the financial industry. It contributes to the limited existing literature, unveiling the peculiarities of the dynam...

In the existing literature on innovation, financial services firms are attributed with a dependence on external knowledge inputs. Meanwhile, relative importance of sources of knowledge for innovation, modes of knowledge inflow, cooperation partners, advantages and disadvantages of cooperation for innovation remain underexplored. This study has unve...

Innovate or die. This observation is nothing new; yet it is probably more true and topical than ever. Over the last decades, innovation has expanded in an unprecedented manner and is now part of most firms’ strategies, if not the nexus of their strategies. Originally, mainly centred around the introduction of manufactured novelties, innovation is n...

This paper explores the role of trust under the prism of open innovation. There is a vast discussion about open innovation and the need for collaboration and knowledge sharing; however, in the process of building up an open and innovative organisation, trust does not yet seem to have a place in this process. The approaches of current literature fai...

Open innovation has received wide attention and has been explored in various sectors of the economy. However, despite the abundant literature in the field, there is an on-going debate around the organizational aspect of this paradigm. This conceptual paper aims at contributing to this debate by developing a conceptual model, which explores the rela...

The financial services sector is undergoing many changes, including the use of new technologies for offering new services. An alliance can be formed with younger technology start-ups to facilitate the internal innovation process of financial services providers. On the one hand, dealing with new knowledge (e.g., technological) requires an organisati...

This book gathers together some of the most up-to-date thinking in the growing field of innovation in services and more particularly, in financial services. It explores the peculiarities of innovation in financial services firms and surrounding market players, discusses the open nature of the innovation process, and analyses its success factors and...

The concept of open innovation has been thoroughly investigated. The shift from a closed to an open paradigm is recognized as the main element that fosters organizational performance. However, despite the abundant literature in the field, there is still an on-going debate about the organizational aspects of open innovation. The aim of this paper is...

Customers are reported to be providers of innovation-related knowledge for the development of new services. In order to benefit from this source of innovation-related knowledge, a company requires the organizational capability to identify and use it, denoted as its absorptive capacity. This research provides a conceptual framework for the co-creati...

http://www.inderscience.com/editorials/f128111527109643.pdf

Over the last decades, the financial services sector has been affected by drastic changes, resulting from multiple sources: (de-, re-) regulation; dominant role of information and communication technologies; shift to off balance sheet activities; service bundling; and changes in customer preferences. This has challenged financial institutions and i...

Innovation lies at the heart of value creation, growth and competitiveness, and receives accrued attention in times of economic turbulence and slowdown. Organizations currently face increasingly dynamic environments and challenging conditions, which leave them exposed to higher levels of complexity and uncertainty. Thus, the ability of organization...

Purpose ‐ Low- and medium-technology sectors' (LMTs) role in modern economies has been overshadowed by the argument relating knowledge creation to R&D and thus to high-tech industries. Nevertheless, whereas a broader definition of innovation has enabled LMTs to emerge as innovative environments, a blind reliance on non-R&D-based indicators may be h...

This paper aims at exploring the role of trust within the financial services sector in relation to open and collaborative financial innovation. Financial services nowadays represent considerable share of the global economy. In the European Union (EU-27), financial services accounted for 5.9% of the gross value added in 2010 (Eurostat, 2011). There...

This research explores inbound Open Innovation practices, their effects on innovation performance and captures the associated time lag effects. To assess the time lag effects, several waves of Turkish CIS data were pooled to capture the dynamics of its national innovation process. The originality of our study is to use a bootstrap method as an alte...

Barriers to open innovation (OI) result from both internal and external factors. One of the most important external/environmental factors affecting knowledge flows between organisations, and hence the utilisation of OI, is the national innovation system (NIS) and its institutions. This study aims at clarifying the influence of economic systems and...

Taking a knowledge-based approach to innovation, we distinguish between four different innovation strategies that vary in how knowledge is sourced and exploited: open innovation (OI), closed innovation, outbound OI, and inbound OI. We build an agent-based simulation model to explore the competitive performance profiles and innovation creation poten...

The expansion of human knowledge in all areas is largely the outcome of the activity of academic institutions and the result of their mission to contribute to the cultural, intellectual and economic development of the society, involving education, research and university extension activities. For many years, the academic community has been organizi...

Customers are reported to be providers of innovation-related knowledge for the development of new services. In order to benefit from this source of innovation-related knowledge, a company requires the organizational capability to identify and use it, denoted as its absorptive capacity. This research provides a conceptual framework for the co-creati...

In this paper we review the common open innovation challenges and the reasons for their occurrence and arrive at the set of propositions on addressing them through the lens of knowledge. We postulate that the knowledge-based view has been unfairly forgotten at the era of open innovation and that strategic use of knowledge approach can aid in solvin...

Download full editorial at www.open-jim.org

This study examines service innovation management in the technical engineering and consulting industry, particularly the product development of services. Literature reviews on the issue of transforming services into products have first been conducted for getting the comprehensive picture on the complex topic. The empirical part of the study consist...

The importance of collaboration has been one of the main issues in innovation studies. Despite many different findings on collaboration and its impact on innovation performance, the impact of different types of collaboration on different types of innovation is still inconclusive. The purpose of this research is to investigate the effects of opennes...

It is self-evident that financial innovation is a key player in the contemporary economy. However, its significant importance has largely been overlooked in innovation studies. To fill up this gap, and through an interdisciplinary approach, this article details a research agenda for innovation in financial services. It reviews the 'what', 'why' and...

The paper focuses on collaborative practices applied in new product development (NPD) in Russian firms. Interfirm collaboration is considered as a crucial factor of NPD success in the context of a transitional economy. The research questions are linked to analysis of Russian firms' openness in interaction with external partners in relation to produ...

Like many of the post-soviet countries, Russia has entered the new century targeting at creation of competitive economy, based on knowledge and innovation with strong emphasis at the role of the regions. At the same time, the western world has entered an era of a new approach to innovation, shifting from a closed to an open innovation (OI) paradigm...

The open innovation paradigm suggests that while the costs of innovation and R&D are rising and, at the same time, the life cycles of products are shortening, firms need new and more open business models (BMs) to gain cost and time saving by using also external R&D and to receive new revenues from internal invention sitting on a shelf by external c...

Open innovation paradigm has emerged into an integral element of enterprise innovation strategies. The evidence on the adoption of open innovation in transition economies is rather scarce. A distinctive feature of transition economies is the structure of company ownership and the outbalanced share of state in it. This article studies the effect of...

The paper evaluates the compatibility of Russian offshore software development providers with the needs of their foreign customers. The potential of the Russian industry is illustrated through the description of the business practices and models of four offshore software companies. Besides cooperation, the main focus of the study is on the resource...

Nowadays, many research organizations extract information from research findings that are, as such, not feasible or valuable for their own use. It is crucial for any organization conducting extensive research activities to have effective and efficient methods so that they receive maximum economic benefit from research outcomes. Two separate mail su...

The notion of open innovation suggests that firms can boost their innovative performance by both acquiring knowledge from outside the company and deploying external paths to market for commercialization of non-core technologies. As innovations emerge increasingly from interorganisational cooperation, the background for such cooperation can also hav...

Product development processes have been studied since the 80s and nearing 90s, academic attention turned to early phases of development, i.e., fuzzy front-end (FFE). Activities at the FFE are often chaotic and experimental with rather unpredictable or uncertain commercialisation future. Opportunities are raising, but a firm still cannot do all need...

As the acquisition of valuable knowledge from other organisations has become an increasingly important motive for firms to engage in alliances, scholars have often discussed the role of absorptive capacity in interorganisational learning and performance. However, little is known about which antecedents of absorptive capacity are important in strate...

While external knowledge acquisition is well studied and understood, the external exploitation side of open innovation remains challenging. First we present the contemporary process models for external exploitation, describing the different steps along with relevant challenges and actions. Then, we identify major overall challenges in external know...

European manufacturers have enlarged their manufacturing networks to Asia. Also, the growing demand in Asia as well as in Russia creates challenge for supply chain solutions. This research presents survey research results, targeted on the largest manufacturers and retailers in Finland and Sweden. We estimate how transportation modal split (road, se...

Applications based on the Global Navigation Satellite System (GNSS), in combination with different communication systems, have significantly helped to increase safety, efficiency and system capacity of operations in different modes of transportation. Here railway transport is no exception, although the number of applications based on GNSS has been...

Companies must innovate, today and tomorrow. The ability to provide new products and solutions to the markets is critical for maintaining a continuous revenue stream, especially in this age of fundamental changes. Product development processes have been studied since 80s and nearing 90s academic attention turned to early phases of development, i.e....

The “open innovation” model is currently being touted as a superior path for achieving long-term success. Rather than relying on their own, limited resources for research and development in the traditional, closed invention system, firms are encouraged to share knowledge across firm boundaries to enhance their innovative potential. Yet, such sharin...