Successful Innovation Strategies in Norwegian Service Firms.
Master thesis
Permanent lenke
https://hdl.handle.net/11250/3089804Utgivelsesdato
2023Metadata
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- Studentoppgaver (SV-NHS) [561]
Sammendrag
This thesis aims to explore the service innovation strategies adopted by successful startups,scaleups, and corporate firms in Norway. The purpose of this research is to identify and analyzethe factors that contribute to the success of service innovation, with a focus on innovationstrategies implemented in different modes of innovation and product market fit.The main approach for gathering data for this study's qualitative research method was semistructuredinterviews. Respondents from six firms that have had experience implementingservice innovation strategies participated in the interviews. The intersubjective analysis approachwas chosen for the analysis of the data.The results of this study imply that successful companies in Norway are moving toward a moreservice-oriented strategy with an emphasis on giving customers value-added services.Understanding customer needs, creating long-lasting solutions to meet those goals, anddelivering a great user experience are the fundamental elements that make service innovationsuccessful. The idea of servitization—where businesses shift toward providing a wider range ofservices—is also gaining popularity. Additionally, service innovation is greatly facilitated, andthe likelihood of success is increased by innovative business models.By presenting details about the service innovation methods of successful startups, scaleups, andcorporate businesses in Norway, this study adds to the body of literature on the topic. With anemphasis on business model innovation and servitization, this study provides practitioners with athorough framework to use for effective service innovation.Key Words: Innovation, Strategy, Business model, and Servitization.