Eco-Innovation Drivers in Value-Creating Networks: A Case Study of Ship Retrofitting Services

Abstract

Previous studies discuss how regulatory, technological and market drivers increasingly challenge manufacturing industries to adopt eco-innovations. However, the understanding of the process by which eco-innovations are developed and commercialized as a result of these drivers is not yet well established, in particular because these drivers are perceived differently by the end-users and their suppliers. In this paper, we address the following research question: How do eco-innovation drivers shape processes in value-creating networks? To answer this question, we carried out a case study purposely selected to understand how eco-innovation drivers, such as regulation, market pull and technology, interact and affect the eco-innovation decisions in a given industry. We analyzed the processes in an eco-innovation initiative about retrofitting old ships, contextualized in the maritime equipment and supply industry. The paper makes two novel contributions: First, we develop a framework that can support supply-network eco-innovation initiatives to deal with changes at the regulatory, market and technology levels. The framework includes elements, such as value co-creation to explore technological opportunities emerging from the interaction of the drivers or value proposition development to align multiple actors' interests in the network and agree on shared expectations to exploit the opportunities. Second, we contribute to the emerging research area on eco-innovation processes by highlighting the lesser-known role of value-creating network dynamics. Value-creating networks can be a platform for the development of more radical eco-innovations if actors in the networks can align their value creation and capture objectives.

Reveal or Conceal? Signaling Strategies for Building Legitimacy in Cleantech Firms

“…These findings provide empirical evidence to recent conceptual contributions on how new firms build legitimacy engaging multiple stakeholders [62]. Cleantech firms, as expected, generate environmental signals to potential strategic partners, revealing information on the sustainability impact of their eco-innovations [3]. However, these signals were not explicitly used in the early stages of a firm's development.…”

“…Cleantech firms are firstly important to society. These firms are active agents of environmental innovation and sustainability, as they commercialize eco-innovations enabling the creation of new industries and fostering growth in existing industries [3]. Being part of young and uncertain industry, cleantech firms have limited benefits compared to firms in other more mature technology sectors.…”

Enhanced Cash Flow Valuation in Real Estate Management by Integrating Innovative Materials and Risk Assessment

“…While the use of HQMs is usually financially valued by customers, sustainability itself is only a minor aspect in this context (#2, #21) [77]. Clients have been known to show only a light interest in innovative materials, either because they do not care what is beyond the surface of a wall (homeowners) (#21), they just want a certificate for office space that they intend to rent out (investors) (#17), or because their own clients are interested in green production processes (companies) (#16) [78]. In the case of conventional materials leading to a lower margin, developers still prefer them in many situations, as the perceived risk regarding their application is lower (#2).…”

The Short-Term Cost of Greening the Global Fleet

“…Beyond the wider low-carbon shipping literature, several specific issues in terms of retrofitting existing vessels have been reviewed from various angles. This includes, for instance, considerations of retrofit market ecosystems [44][45][46]. To a large extent, this also relates to a more technical body of retrofit literature [47][48][49][50][51].…”