Abstract
The paper introduces important aspects of doctoral research concerning innovation management in the context of business management challenges posed by digital transformation. The research was conducted as part of the Research Centre of Business Administration in The Bucharest University of Economic Studies, Romania. The study aims to identify and display key components of innovation management – with a primary focus on topics spurred by the recent wave of digital evolution. Against this background, the issue of smart city solutions makes for an interesting case – firstly, because it affects a large number of people and businesses around the globe and secondly, the complexity of the topic forces companies to pursue different innovation management approaches to successfully manage its associated challenges as well as opportunities. The paper consists of an overview on the existing literature and a concise outline of our research. Both researches from professional associations as well as recognized publishers were considered. Furthermore, market data were gathered and processed. More than 50 publications were analyzed to better understand trends in digital transformation and its impact on innovation management. Our research revealed that in the light of the fundamental challenges posed by digitization, companies are required to take a structured approach towards their innovation management options. In the context of smart city solutions, the adoption of the “4I Solutions Model” enables businesses to choose the strategic option suitable to their individual case. Concisely, this framework includes four different approaches ranging from initiating groundwork innovation internally to establishing partnerships with selected external parties.
Highlights
Urbanization is a central topic across scientific disciplines against the background of more than 50% of the worldwide population living in urban areas
The issue of smart city solutions makes for an interesting case – firstly, because it affects a large number of people and businesses around the globe and secondly, the complexity of the topic forces companies to pursue different innovation management approaches to successfully manage its associated challenges as well as opportunities
Our research revealed that in the light of the fundamental challenges posed by digitization, companies are required to take a structured approach towards their innovation management options
Summary
Urbanization is a central topic across scientific disciplines against the background of more than 50% of the worldwide population living in urban areas. Companies with innovative solutions are able to benefit from by double bottom line by increasing profits and improving the living conditions of million people worldwide. Understanding the social, economic and technical implications of smart city solutions is the key for companies to unlock opportunities in this field. Staying ahead of other market participants is closely associated with selecting the right innovation management strategies which are strongly influenced by the lastest wave of digital transformation. In this context, the presented research consists of an overview on the existing literature.
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