NDLI: Customer needs evolution, business paradigm innovation & adaptive goodness

Content Provider	IEEE Xplore Digital Library
Author	Kim, S.I.-H.
Copyright Year	2010
Description	Author affiliation: Professor Emeritus, Hanyang University (Republic of Korea) (Kim, S.I.-H.)
Abstract	This paper attempts to draw some strategic implications including a significant innovation indicator about how to innovate business paradigm while customer needs evolve based on WTP (willingness to pay) function & customer needs evolution model through the experience of industrial hegemony shifts in the world telecom industry. Those are: (1) as needs evolves, the optimal business paradigm that will likely guarantee the maximum expected profit does also vary (2) only innovative firm adapting to needs evolution can survive & thrive (3) adaptive goodness as a measure of how closer to the optimal business paradigm must be a much more decisive indicator of business success, especially in the situations where customer needs evolves so frequently or customer's power is stronger than that of a firm, rather than (sustainable) competitive advantage having been prevailing as the determinant of business success.
Starting Page	1
Ending Page	5
File Size	194324
Page Count	5
File Format	PDF
ISBN	9781424464852
e-ISBN	9781424464876
DOI	10.1109/ICSSSM.2010.5530199
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2010-06-28
Publisher Place	Japan
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Technological innovation needs evolution adaptive goodness Power generation economics dynamic management innovation indicators Environmental factors Telecommunications Environmental economics Power measurement Customer satisfaction Communication industry Innovation management industrial hegemony shifts business paradigm innovation Energy management
Content Type	Text
Resource Type	Article

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