wiI: Innovation, Cooperation, Leadership

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Why firms pursue Hybrid Value Creation?

Even though the concept of HVC is not new, it is being increasingly studied in the recent past especially in the advanced economies. This is because manufacturing firms from the richer economies consider HVC as an effective strategy to survive the full competitive onslaught they face from companies coming from the emerging economies which compete on the basis of cost.
Firms perceive HVC as an innovation strategy which can:

  • help them differentiate themselves from their competitors
  • help them create new markets by challenging existing industry architectures, i.e. defined industrial borders of what comes under a specified industry
  • make the offerings of their competitors irrelevant in the market.