In today’s economic landscape, innovation is a critical component of companies’ success and can ensure substantial competitive advantage. Firms must therefore understand innovation governance principles to develop a structured innovation activity. Companies can therefore benefit from the governance domain when managing innovation. Innovation Governance’s purpose is to find governance elements that can assist a business in fostering its innovation performance. It also seeks to analyse how possible modifications in governance can affect a company’s innovation tendency. The comprehensive relationship between governance and innovation as a whole has received relatively little academic attention to date. Most studies focus on one dimension, but in this thesis, each one is examined both separately and in relation to the others. It is crucial to understand a company’s ownership structure and the risk propensity of its shareholders when evaluating its innovation activity. In a world where there is an increasing focus on sustainability, stakeholder engagement and corporate social responsibility stand as two important sources of new sustainable and innovative prospects. The influence of the CEO and the composition of the Board of Directors can serve a crucial role in ensuring that innovative projects across all business areas are given proper attention. Motivation of manager is finally essential for the establishment of a risk-friendly and innovative environment. With information from 15 interviews with highly R&D-intensive organisations, this dissertation contributes to the body of research on innovation governance. A thorough theoretical model with all viable solutions divided into five clusters is developed to provide organisations with guidance on the potential areas of intervention. The relevance of each cluster’s solutions is thoroughly examined by the degree to which practitioners embraced them, thereby confirming the results and evaluating their significance. In conclusion, this dissertation advances the field of innovation governance by utilising a holistic approach to the topic and providing insights on how to encourage innovation by leveraging corporate governance.
Nell'attuale panorama economico, l'innovazione è una componente critica del successo delle aziende e può fornire un sostanziale vantaggio competitivo. Esse devono quindi comprendere i principi di governance dell'innovazione per sviluppare un'attività innovativa strutturata. Le aziende possono dunque trarre vantaggio dalla governance per la gestione dell'innovazione. Lo scopo dell'Innovation Governance è quello di individuare gli elementi di governance che possono aiutare un'azienda a migliorare le proprie performance innovative. Inoltre, cerca di analizzare come eventuali modifiche della governance possano influenzare la tendenza innovativa di un'azienda. La relazione completa tra governance e innovazione nel suo complesso è stata finora oggetto di una discussione accademica relativamente limitata. La maggior parte degli studi concentra l'attenzione su una sola dimensione, ma in questa tesi ognuna di esse è stata esaminata sia separatamente che in relazione l'una all'altra. È fondamentale comprendere la struttura proprietaria di un'azienda e la propensione al rischio dei suoi azionisti quando la si valuta in termini innovativi. In un mondo in cui l'attenzione alla sostenibilità è sempre maggiore, il coinvolgimento degli stakeholder e la responsabilità sociale d'impresa rappresentano due importanti fonti di innovazione sostenibile. L'influenza dell'amministratore delegato e la composizione del Consiglio di amministrazione possono avere un ruolo cruciale nel garantire che i progetti innovativi in tutte le aree aziendali ricevano la giusta attenzione. La motivazione dei manager è infine essenziale per la creazione di un ambiente innovativo e propenso al rischio. Con le informazioni ricavate da 15 interviste a organizzazioni innovative questa tesi contribuisce al corpo di ricerca sulla governance dell'innovazione. Viene definito un modello teorico approfondito con tutte le soluzioni suddivise in cinque cluster per fornire alle aziende una guida sulle potenziali aree di intervento. La rilevanza delle soluzioni di ciascun cluster è esaminata in modo approfondito, confermando così i risultati e valutandone l'importanza. In conclusione, questa tesi fa progredire il campo della governance dell'innovazione utilizzando un approccio olistico all'argomento e fornendo spunti su come incoraggiare l'innovazione facendo leva sulla corporate governance.
Innovation Governance: The Foundations of Corporate Governance and Their Impact on Innovation
Pandolfi, Ilaria;Mazza, Luca
2022/2023
Abstract
In today’s economic landscape, innovation is a critical component of companies’ success and can ensure substantial competitive advantage. Firms must therefore understand innovation governance principles to develop a structured innovation activity. Companies can therefore benefit from the governance domain when managing innovation. Innovation Governance’s purpose is to find governance elements that can assist a business in fostering its innovation performance. It also seeks to analyse how possible modifications in governance can affect a company’s innovation tendency. The comprehensive relationship between governance and innovation as a whole has received relatively little academic attention to date. Most studies focus on one dimension, but in this thesis, each one is examined both separately and in relation to the others. It is crucial to understand a company’s ownership structure and the risk propensity of its shareholders when evaluating its innovation activity. In a world where there is an increasing focus on sustainability, stakeholder engagement and corporate social responsibility stand as two important sources of new sustainable and innovative prospects. The influence of the CEO and the composition of the Board of Directors can serve a crucial role in ensuring that innovative projects across all business areas are given proper attention. Motivation of manager is finally essential for the establishment of a risk-friendly and innovative environment. With information from 15 interviews with highly R&D-intensive organisations, this dissertation contributes to the body of research on innovation governance. A thorough theoretical model with all viable solutions divided into five clusters is developed to provide organisations with guidance on the potential areas of intervention. The relevance of each cluster’s solutions is thoroughly examined by the degree to which practitioners embraced them, thereby confirming the results and evaluating their significance. In conclusion, this dissertation advances the field of innovation governance by utilising a holistic approach to the topic and providing insights on how to encourage innovation by leveraging corporate governance.File | Dimensione | Formato | |
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2023_12_Mazza_Pandolfi_Tesi_01.pdf
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2023_12_Mazza_Pandolfi_Executive Summary_02.pdf
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https://hdl.handle.net/10589/214625