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Mike M.A.J. Vermeer 
www.mikevermeer.nl
WALKING THE VALUE INNOVATIONLANE: A CONCEPTUEL FRAMEWORK
“All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed.Third, it is accepted as being self-evident.” 
Arthur Schopenhauer (German philosopher 1788 – 1860)
This paper is submitted in partial fulfilment of the requirements for the Masters of Marketing(MM) degree at the TiasNimbas Business School, Tilburg, the Netherlands, November 2008.Version: 1.1Wordcount: 10.830
 
 
i
EXECUTIVE SUMMARY
Value Innovation focuses on utility, price, and cost positions, to create and capture newdemand and to focus on the bigger picture, not only the numbers. Looking at the famous
 BlueOcean Strategy,
we find a visionary roadmap for uncontested markets. The ultimateinnovation of value one might say. But at what price? To focus on the quest for giant ValueInnovation, can lead to neglecting the here and now competition as well as putting at risk  present turnover and profit.Reality shows that it is not only a very hard and risk full enterprise to develop a Blue Ocean but also that there is no structured method to find value oases in the innovation desert bymethod. The purpose of this paper is to show that the main obstacles are found within the boundaries of unwritten industry guidelines and cultural aspects within organizations.Existing management, institutional and social contexts are the greatest hurdles to overcome.An online questionnaire was conducted with senior managers of 21 prominent companies.These are known for their innovation capacity within their field, in order to obtain their expertopinions on Value Innovation and gain insight into their methods to embrace and embedValue Innovation in a structured basis.The research shows that there still remains much to be done as we are confronted with aspectsregarding defining Value Innovation goals at a corporate level, identifying the types of innovative projects, undertaking and evaluating these projects for chances, risks and impactsand its implementation. Most, if not all, interviewed companies, are not maximizing their  potential due to a limited mindset and also by not treating this area as an strategically andintegral part of business.The researcher concludes with the Value Innovation Capacity Framework, a conceptualroadmap that can be walked to embrace the Value Innovation as a companies’ KeyPerformance Indicator.
 
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TABLE OF CONTENTS
 Executive Summary iTable of Contents iiAcknowledgement ivAbstract ivAbout the author ivKeywords vList of Figures vList of Tables vList of Abbreviations v
CHAPTER 1: INTRODUCTION
…………………………………………….…..7
1.1 AN INTRODUCTION OF VALUE INNOVATION…………………71.2 PROBLEM DEFINITION……………………………………………..71.3 RESEARCH OBJECTIVE…………………………………………….81.4 THEORETICAL FRAMEWORK……………………………………..81.5 RESEARCH QUESTIONS……………………………………………81.6 RESEARCH METHODOLOGY……………………………………...91.7 THESIS STRUCTURE……………………………………………….10
CHAPTER 2: LITERATURE REVIEW………………………………..10
2.1
 
INTRODUCTION TO INNOVATION………………………………102.2 THE PURPOSE OF STRATEGIC INNOVATION………………….132.3 INNOVATIVE CORPORATE STRATEGIES………………………142.4 BLUE OCEAN: STRATEGY OR PHILOSOPHY?……..……….….172.5 A FEW VALUE INNOVATION PRACTICES………...……………222.6 GAP IN STUDY……………………………………………...............232.7 METHODOLOGICAL APPROACH TO DEVELOPING,IMPLEMENTING AND MEASURING STRATEGIES…………... 24
CHAPTER 3: THEORETICAL FRAMEWORK AND RESEARCHMETHODOLOGY…………………………………….....33
 
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