Digital innovations are changing how firms innovate. Instead of traditional producer–supplier relationships where firms control the supply chain, these innovations often require collaboration across boundaries, such as in innovation ecosystems. Digital innovations also push firms to develop new capabilities. On June 21, 2024, KIN Center for Digital Innovation gathered scholars and top managers from BHS (producer of Bosch and Siemens home appliances) at the VU symposium to discuss the latest research on how managers can achieve strategic renewal and develop new capabilities.
Anne-Kristin Zobel, Associate Professor of Management at the University of St. Gallen, introduced the concept of the "Twin Transition" during her keynote address. This approach integrates digital and sustainability agendas to ensure organizations are prepared for the future. Zobel emphasized the importance of replacing emission-intensive processes with digital alternatives and services that utilize learning, network, and generative effects. Zobel and her co-authors advocate for adopting a digital-first approach: leveraging predictive technologies and network effects to design comprehensive incentive programs to stimulate emission reduction. She illustrated these strategies with successful cases of Fas4, Omhocnnect, and Kolektivo
Sotiris Paroutis, Professor of Strategic Management and Head of the Strategy and International Business (SIB) Group at Warwick Business School, shared a keynote on digital transformation and agility, highlighting top business transformations. He shared insights from his research at internationally renowned cases such as NASA and Cisco.
Vareska van de Vrande, Professor of Collaborative Innovation and Business Venturing at Rotterdam School of Management, discussed how digital transformation and external corporate venturing add value. She explained that digital transformation involves exploring new domains, which significantly departs from business as usual. Collaborating with external startups saves time and costs, allowing for experimentation and keeping track of market changes and opportunities.
Martin Friesl, Professor of Strategy and Organisation at Otto-Friedrich-University Bamberg, presented a study on strategic decision-making and social media. According to his findings, social media can introduce biases, leading managers to invest more in options that are featured prominently on LinkedIn.
Philipp Tuertscher, Professor of Collaborative Innovation and a member of the KIN Center for Digital Innovation at the School of Business and Economics, shared insights on how digital innovation drives connectivity through complementary products and across multiple platforms. He discussed the opportunities and risks of increased connectivity and provided recommendations to mitigate them.
The symposium culminated in a panel discussion moderated by Frans Feldberg, Professor of Data-Driven Business Innovation at the KIN Center for Digital Innovation. Researchers and top managers from the incumbent BSH (producer of Bosch and Siemens home appliances), including Gertjan Sturm, Director Marketing Western Europe, Ronald Wassenaar, CEO BSH France and CEO Western Europe, and Jochem Ybema, CFO BSH UK and Ireland, discussed the implications of the research on strategic renewal and capability development in practice.
The symposium was organized by Fleur Deken, Professor of Strategy, Technology and Innovation, Hans Berends, Professor of Innovation and Organization, and Frans Feldberg, Professor of Data-driven Business Innovation as a preamble to Kathrin Borner's PhD defense titled "Strategic Renewal through New Complementarities: Studies on Incumbents’ Digital Innovation Efforts," which took place later that day.