Managing Economic Innovations – Ideas and Institutions Edited by: Robert Romanowski Bogucki Wydawnictwo Naukowe Poznań 2019 Reviewers: Barbara Borusiak Barbara Kucharska Cover design: Julia Bogucka Publication co-financed by the European Union from the European Social Fund under the Operational Programme Knowledge Education Development 2014–2020. Copyright © Authors, 2019 ISBN 978-83-7986-276-4 DOI: 10.12657/9788379862764 Bogucki Wydawnictwo Naukowe Górna Wilda 90 61-576 Poznań Poland [email protected] www.bogucki.com.pl Contents Introduction . 4 Robert Romanowski The Nature of Innovation Management ....................................... 6 Robert Romanowski Intellectual Property Management – An American Start-up Case Study ......... 22 Windham E. Loopesko, Rigby Johnson Knowledge Mobilisation for Innovation ....................................... 42 Jan Fazlagić The Role of Higher Education Institutions in Developing Innovation Skills Among University Students .................................................. 58 Jan Fazlagić The Role of Quality in Customer Relationship Management .................... 70 Paweł Dobski The Concept of Open Innovation – the Essence, Types and Examples in the Petrol Station Sector ......................................................... 83 Patrycja Wyciszkiewicz, Tomasz Zawadzki Green Entrepreneurship in The Quintaple Helix Model ........................ 103 Robert Romanowski, Marek Gnusowski Crowdsourcing – foundations and examples of use in marketing ............... 119 Marcin Lewicki Financing Innovations ........................................................ 137 Aleksandra Szulczewska-Remi Romanowski R. (Ed.): Managing Economic Innovations – Ideas and Institutions. Bogucki Wyd. Nauk., Poznań 2019. ISBN 978-83-7986-276-4 DOI: 10.12657/9788379862764-0 Introduction Keywords: innovation management, economic innovations Innovation has become a buzzword in the 21st century with the idea of creative destruction launched by J.A. Schumpeter being the main base for evolutionary economics. However, new institutional economics helps to understand the necessity of support given to entrepreneurs and innovators from science and administration to reduce the risk of launching innovations. This book is devoted to selected ideas of innovation management as well as institutions supporting innovation processes such as green entrepreneurship, helix models including role of universities in innovation process, quality management, crowdsourcing and financing innovations. The first chapter is devoted to understanding the nature of innovation management, created on the innovation model. It will identify the evolution of innovation processes leading to new innovation paradigms, based on networking and openness. Desk research was used as a methodology herein to demonstrate the differences between six types of innovation processes and the resulting ten types of innovation. The second chapter is devoted to understanding the impact which intellectual capital has on innovation management and illustrates it using the example of PuppTech Inc., a technology start-up working on environment-monitoring technology to protect the wellbeing of pets in vehicles. The goal of this chapter is to use PuppTech as a tool in the exploration of the impact intellectual capital and its protection has on innovation management within start-ups. The third chapter aims to provide a better understanding of “Knowledge Mobilisation” as one of the prerequisites for innovation, and, in some contexts, an enabler of innovation. The chapter presents the essence and specificity of knowledge mobilisation (KMb) for innovation, and elaborates on the process of transferring knowledge (usually from formal research institutions such as universities) into active use by business organisations. It also provides a comprehensive literature review of KMb definitions as well as some institutional solutions for the issue. Robert Romanowski: Associate Professor at Department of Commerce and Marketing, Poznań University of Economics and Business, e-mail: [email protected] The Nature of Innovation Management 5 The fourth chapter reviews the role of higher education institutions in developing innovation skills among university students. Through a literature review a list of 18 competences which are a good compromise between the requirements for standardization and the multifariousness of innovation competences was developed. The chapter is then rounded up with some practical recommendations for higher education institutions regarding the development of innovation skills amongst its students. The fifth chapter presents the issue of quality in customer relationship manage- ment and attempts to reformulate the concept of normative quality (quality based on norms and standards) into the concept of relational quality (the perception of quality from a customer’s perspective). It also demonstrates the extent to which the imple- mentation of the quality management concept in an enterprise affects the process of continuously improving cooperation with broadly understood stakeholders. The main objective of the sixth chapter is to present the concept of open innovation in a theoretical aspect as well as practical terms, on the example of the service station sector in Poland. For this, the authors conducted research on a sample of adult poles responsible for the management of petrol station facilities in Poland. The seventh chapter is devoted to the issue of green entrepreneurship. The purpose of this chapter is to indicate the importance of green entrepreneurs in the quintuple helix model with a supportive role of sustainability-oriented innovation intermediar- ies. In order to create a detailed review of the critical points of current knowledge on the relationship between both aggregates, a systematic literature review was carried out. Thereby, the arguments based upon broadly accepted facts are presented and systematized. The eighth chapter of the book is dedicated to a review and examples of use of crowdsourcing in marketing, In it, the authors define the concept, present models, its applications, key success factors and present examples of its use. In order to achieve the objectives, desk research and the case study method were used. The final chapter helps to understand the issue of financing innovations and the financial constraints that many young fast-growing companies face. The purpose of this chapter is to determine selected sources of capital that is available for innovative startups, at different stages of their development while emphasizing their importance for the economy. Based on the literature review conducted across 73 research papers, reports and statistical documents, this chapter sheds new light on advantages and dis- advantages of different financing options. We end the introduction on this note and hope that this book will prove useful for students studying Innovation Management, those working in R&D departments as well as enthusiasts of innovation. Robert Romanowski Romanowski R. (Ed.): Managing Economic Innovations – Ideas and Institutions. Bogucki Wyd. Nauk., Poznań 2019. ISBN 978-83-7986-276-4 DOI: 10.12657/9788379862764-1 Chapter 1 The Nature of Innovation Management Robert Romanowski Abstract: The Nature of innovation management is referred in literature as short- term process with immediate cost, and as long-term benefits and other out- comes (Dodgson, Gann, Phillips, 2016, p. 6). The concept of innovation has long been dominated by a technical approach to the innovation process, despite the economic arguments exposed by one of the precursors of the theory of innova- tion and, at the same time, the school of evolutionary economics – Joseph Alois Schumpeter. Frequently, in the context of innovation, it is pointed out that organ- izational and marketing aspects play a part in the successful introduction of inno- vation onto the market. The aim of the study is to identify the evolution of inno- vation processes leading to new innovation paradigm, based on networking and openness. The method of desk research was used in the study to demonstrate the differences between six types of innovation processes, including science push, demand pull, coupling, interactive, integrated, networking and open innovation ones, and ten types of innovation, treated as a result of the process. In the new paradigm of innovation the risk of a result (type of innovation) is reduced by the way it was achieved (the process of innovation). Reduction of innovation’s risk is possible when an innovator uses both own and other entities’ resources in the process. The nature of modern innovation management has been changed from technical activity pushing novelties to a market into economic factors helping to define possibilities of positioning a new solution even before production. Keywords: innovation process, types of innovation, innovation management, economic innovations Robert Romanowski: Associate Professor at Department of Commerce and Marketing, Institute of Marketing, Poznań University of Economics and Business, ORCID: https://orcid.org/0000-0002-8585-6806, e-mail: [email protected] The Nature of Innovation Management 7 Introduction Innovation is a concept that has dominated the discussion on the modern economy, referred to as a knowledge-based economy. The Idea of innovation management is referred to as a short-term process with immediate costs and long-term benefits and other outcomes (Dodgson, Gann, Phillips, 2016, p. 6). The nature of innovation