Collaborating with Public Research Institutions: Using Strategic Intent and Co-Created Value to Gain Strategic Opportunities in New Product Development

Abstract

ABSTRACT Purpose By collaborating with public research institutions, the paper seeks to understand how firms can leverage strategic intent and co-created value to gain strategic opportunities in new product development. Design/methodology/approach This study employed Eisenhardt’s case approach (1998) to develop a theory. Data was gathered through a semi-structured questionnaire administered to 40 personnel from public research institutions. The key informant, who possessed extensive experience in new product development and a deep understanding of partner firms’ motivations to collaborate, was also consulted. This primary data was supplemented with secondary data, including published information and field notes, to ensure a comprehensive research approach. Findings The results offer four propositions that can be explored further. First, the higher the strategic intent among PRI stakeholders, the higher the likelihood of strategic opportunities leading to new products. Second, the higher the co-created value in the NPD process, the higher the likelihood of strategic opportunities. Third, the higher the strategic intent and co-created value, the higher the strategic opportunities. Fourth, the higher the strategic intent and co-created value, the higher the likelihood of strategic opportunities. Such strategic opportunities may not have immediate desired commercial outcomes, but their cumulative knowledge could provide additional strategic opportunities for future NPD. Originality/value This research contributes to the business marketing literature by deepening our understanding of the potential strategic opportunities that can arise from firms Collaborating with public research institutions. It highlights the benefits of these institutions being more knowledge (as compared to profit) focused and how these collaborations can, directly and indirectly, lead to new product developments.