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Strategic and cultural contexts of real options reasoning in innovation portfolios

Kaufmann, Carsten ; Kock, Alexander ; Gemünden, Hans Georg (2023)
Strategic and cultural contexts of real options reasoning in innovation portfolios.
In: Journal of Product Innovation Management, 2021, 38 (3)
doi: 10.26083/tuprints-00020144
Article, Secondary publication, Publisher's Version

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Item Type: Article
Type of entry: Secondary publication
Title: Strategic and cultural contexts of real options reasoning in innovation portfolios
Language: English
Date: 22 December 2023
Place of Publication: Darmstadt
Year of primary publication: 2021
Place of primary publication: Oxford
Publisher: Wiley-Blackwell
Journal or Publication Title: Journal of Product Innovation Management
Volume of the journal: 38
Issue Number: 3
Collation: 21 Seiten
DOI: 10.26083/tuprints-00020144
Corresponding Links:
Origin: Secondary publication DeepGreen

Decision makers find creating an innovation portfolio challenging, because more innovative projects are associated with a higher degree of uncertainty. In this study, we investigate the potential benefits of applying real options reasoning (ROR) in innovation portfolio management from an attention‐based view. Using a sample of 137 innovation portfolios with multiple informants, we investigate ROR's influence on portfolio innovativeness and, ultimately, on portfolio success in a mediated model. Further, we analyze the moderating influence of an innovation portfolio's organizational context — entrepreneurial orientation and innovation climate — on ROR's application. The results support ROR's positive relationship to portfolio innovativeness and portfolio success. The analysis also supports the positive interaction between entrepreneurial orientation and ROR with respect to portfolio innovativeness. This study contributes to the literature by demonstrating the relationship between ROR and portfolio success, mediated by portfolio innovativeness. In addition, the study's analysis offers an explanation of previously mixed findings regarding ROR's benefits by considering the firm's strategic and cultural innovation contexts. The findings underline the relevance of strategic support for ROR's effectiveness in innovation portfolio management. Furthermore, the findings encourage managers to implement ROR, but also stress the essential contribution an entrepreneurial orientation makes when the managers do so.

Uncontrolled Keywords: entrepreneurial orientation, innovation portfolio management, portfolio innovativeness, real options reasoning
Status: Publisher's Version
URN: urn:nbn:de:tuda-tuprints-201441
Classification DDC: 300 Social sciences > 330 Economics
600 Technology, medicine, applied sciences > 650 Management
Divisions: 01 Department of Law and Economics > Betriebswirtschaftliche Fachgebiete > Fachgebiet Technologie- und Innovationsmanagement
Date Deposited: 22 Dec 2023 13:27
Last Modified: 07 Mar 2024 12:19
SWORD Depositor: Deep Green
URI: https://tuprints.ulb.tu-darmstadt.de/id/eprint/20144
PPN: 516053310
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