For radical innovation to be successful both the business model and the technology must be simultaneously created. The “The Two Nested Innovation Processes of Fourth Generation R&D Management” figure shows how this works at a high level.
The outer loop is an innovation process with larger scope that develops new capabilities in a group of suppliers, revised business models and industry structures including value chain as parts of a new dominant design. Within this outer loop is a second iterative ‘spiral’ process that operates inside as an inner loop to facilitate collaborative learning between a group of suppliers, including their development and delivery partners and their customers, to focus on developing a new dominant design.
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