Golden opportunities for silver innovation: How demographic changes give rise to entrepreneurial opportunities to meet the needs of older people
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In: Technovation, Vol. 39-40, No. 1, 2015, p. 73-82.
Research output: Journal contributions › Journal articles › Research › peer-review
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TY - JOUR
T1 - Golden opportunities for silver innovation
T2 - How demographic changes give rise to entrepreneurial opportunities to meet the needs of older people
AU - Kohlbacher, Florian
AU - Herstatt, Cornelius
AU - Levsen, Nils
N1 - Publisher Copyright: © 2014 Elsevier Ltd. All rights reserved.
PY - 2015
Y1 - 2015
N2 - This paper deals with the recognition and exploitation of opportunities arising from demographic changes in the form of population aging. Moreover, it explores the product development process for solutions to meet the demand of the increasing number of older people due to the demographic shift. Using a qualitative approach, we analyze opportunity identification and exploitation in the "silver" market (i.e. The market targeting older people). We employ a multiple case analysis based on six different approaches to opportunity recognition and exploitation in the form of product innovations addressing specificneeds of older people. Our cases present how firms in different industrial contexts and user settings tackle these needs. We contribute to the state-of-the-field in entrepreneurship and innovation management by providing insights on (a) opportunity recognition and exploitation in connection with demographic change, (b) innovation management and product development for older users, (c) the wider context of opportunity recognition beyond the individual level of the entrepreneur (i.e. The individual-opportunity nexus), and finally (d) the under-researched exploitation process subsequent to opportunity recognition.
AB - This paper deals with the recognition and exploitation of opportunities arising from demographic changes in the form of population aging. Moreover, it explores the product development process for solutions to meet the demand of the increasing number of older people due to the demographic shift. Using a qualitative approach, we analyze opportunity identification and exploitation in the "silver" market (i.e. The market targeting older people). We employ a multiple case analysis based on six different approaches to opportunity recognition and exploitation in the form of product innovations addressing specificneeds of older people. Our cases present how firms in different industrial contexts and user settings tackle these needs. We contribute to the state-of-the-field in entrepreneurship and innovation management by providing insights on (a) opportunity recognition and exploitation in connection with demographic change, (b) innovation management and product development for older users, (c) the wider context of opportunity recognition beyond the individual level of the entrepreneur (i.e. The individual-opportunity nexus), and finally (d) the under-researched exploitation process subsequent to opportunity recognition.
KW - Aging Demographic change
KW - Innovation management
KW - Older users
KW - Opportunity exploitation
KW - Opportunity identification
KW - Opportunity recognition
KW - Management studies
UR - http://www.scopus.com/inward/record.url?scp=84933670564&partnerID=8YFLogxK
U2 - 10.1016/j.technovation.2014.05.002
DO - 10.1016/j.technovation.2014.05.002
M3 - Journal articles
AN - SCOPUS:84933670564
VL - 39-40
SP - 73
EP - 82
JO - Technovation
JF - Technovation
SN - 0166-4972
IS - 1
ER -