The License Giver Business Concept of Technological Innovation: A Game of Excellence

Innovation is a popular demand from stock markets and governments, but many proponents lack insight into what it takes to be an innovator. This book offers a theoretical framework, the License Giver Business concept, that clarifies the core characteristics of a truly innovating company and differentiates it from three other archetypes. It describes key aspects and pitfalls in the practical application of the concept and provides cases from the marine industry and computer industry.

Format: Paperback / softback
Length: 139 pages
Publication date: 20 March 2023
Publisher: Springer Nature Switzerland AG

Innovation is a crucial pathway for companies to enhance their value chain and meet the growing demand from stock markets and governments. While many proponents of innovation may lack a clear understanding of what it takes to be an innovator, they often resort to hype and promote innovation based on a romanticized notion that with sufficient willpower, support from boards, investors, or governments, any company can pursue innovation. However, this book presents a theoretical framework, the License Giver Business concept, that sheds light on the essential characteristics of truly innovative companies and distinguishes them from three other company archetypes with distinct core business identities. It delves into key aspects and challenges associated with implementing the License Giver Business concept in practice, offering valuable insights from the marine industry and computer industry.

The License Giver Business concept revolves around the idea that innovative companies play a pivotal role in shaping the future by granting licenses to other businesses or individuals. These licenses allow these recipients to use the innovative company's intellectual property, technology, or expertise to develop their own products or services. By granting licenses, the innovative company not only generates revenue from licensing fees but also fosters a culture of innovation and collaboration, as other businesses and individuals are inspired to adopt and adapt the company's ideas for their own purposes.

One of the key characteristics of a truly innovative company is its ability to identify and address unmet customer needs. Innovative companies are proactive in sensing market trends and customer preferences, and they are willing to take risks and explore new business models to meet these needs. They are also open to feedback and collaboration, seeking input from customers, partners, and stakeholders to refine their products and services and improve their overall value proposition.

Another distinguishing feature of innovative companies is their commitment to continuous learning and improvement. They recognize that the business landscape is constantly evolving, and they are willing to invest in research and development to stay ahead of the competition. They also embrace change and adaptability, being flexible and responsive to new challenges and opportunities.

In addition to these core characteristics, innovative companies also exhibit a strong sense of purpose and values. They are driven by a mission to make a positive impact on society and the environment, and they incorporate sustainability and social responsibility into their business practices. They also prioritize employee well-being and development, creating a culture that fosters creativity, innovation, and collaboration.

To implement the License Giver Business concept effectively, companies need to develop a clear strategy and framework for licensing their intellectual property. They should also establish strong relationships with licensees and partners, ensuring that they are aligned with the company's values and goals. Additionally, companies should invest in marketing and communication to raise awareness about their innovative products and services and attract potential licensees and partners.

Case studies from the marine industry and computer industry are provided throughout the book to illustrate the practical application of the License Giver Business concept. These case studies showcase how innovative companies have successfully licensed their intellectual property to other businesses and individuals, resulting in new product development, increased revenue, and market expansion.

In conclusion, innovation is a critical driver of economic growth and competitiveness, and companies that embrace innovation and implement the License Giver Business concept stand to gain a significant competitive advantage. By identifying and addressing unmet customer needs, committing to continuous learning and improvement, and exhibiting a strong sense of purpose and values, companies can create a culture of innovation that fosters collaboration and drives long-term success.

Weight: 266g
Dimension: 154 x 235 x 12 (mm)
ISBN-13: 9783030911256
Edition number: 1st ed. 2022