Discovery Driven Innovation: The Case of Oman Entrepreneurship
DOI:
https://doi.org/10.14738/assrj.66.6249Abstract
Businesses around the world fail or succeed because decisions good or bad were made out of assumptions of the unknown. In the context of discovery-driven innovation, business decision can be made with the aid of available information based from passed attempts, the current market situation, and consumer dynamics. The discussion involves examining the importance of discovery-driven innovation in business growth. Oman ha a young SME sector in which several entrepreneurs succeed and failed due to a common cause, which is the lack of drive to discover what works for their business and the lack of innovation applied to their operational strategies. Discovery-driven innovation in the case of Oman encompasses the limitations faced by entrepreneurs in reinventing their business ideas based from data about the past and existing enterprises. In discovering what works, what did not work, and why it didn’t, entrepreneurs would be able to make evidence- based decision that can assist them in innovating the way they do business.
Keywords: Commercialization, Consumer Market, New Products, Business Process/strategies
References
Abbott (n.d.). Discovery Driven Innovation - Abbott Research. [online] Abbott Research. Available at: https://abbottresearch.com/discovery-driven-innovation/ [Accessed 21 May 2018]. alShaibany, S. (2017). Oman to tackle joblessness among young with SME campaign. [online] The National. Available at: https://www.thenational.ae/business/oman-to-tackle-joblessness-among-young-with-smecampaign-1.69374 [Accessed 21 May 2018].
Al-Belushi, K., Stead, S. and Burgess, J. (2015). The development of marine biotechnology in Oman: Potential for capacity building through open innovation. Marine Policy, 57, pp.147-157.
Bryant, P. (2017). Innovation in Oman. [online] Business Today Oman. Available at: http://businesstoday.co.om/Issues/Optimism-in-the-air/Innovation-in-Oman [Accessed 21 May 2018].
Entrepreneur Staff (2016). Building An Ecosystem: Riyada Specialist Mentor Chris Broad On Oman's SME Sector. [online] Entrepreneur. Available at: https://www.entrepreneur.com/article/272755 [Accessed 21 May 2018].
Global Focus (2009). Discovery-driven Growth: The Only Plan Is to Learn as You Go - Knowledge@Wharton. [online] Knowledge@Wharton. Available at: http://knowledge.wharton.upenn.edu/article/discovery-driven-growth-theonly-plan-is-to-learn-as-you-go/ [Accessed 21 May 2018].
McGrath, R. (2010). Business Models: A Discovery Driven Approach. Long Range Planning, 43(2-3), pp.247-261.
McGrath, R. (2010). Fascinating application of discovery driven planning to social ventures - Rita Gunther McGrath. [online] Rita Gunther McGrath. Available at: https://www.ritamcgrath.com/2010/08/fascinating-application-ofdiscovery-driven-planning-to-social-ventures/ [Accessed 21 May 2018].
McGrath, R. and MacMillan, I. (1995). Discovery-Driven Planning. [online] Harvard Business Review. Available at: https://hbr.org/1995/07/discovery-driven-planning [Accessed 21 May 2018].
Midgley, D. (2010). The innovation manual. Chichester: Wiley.
Prabhu, C. (2017). Collaboration key to securing success of Omani SMEs, says SMEF chief - Oman Observer. [online] Oman Observer. Available at: http://www.omanobserver.om/collaboration-key-securing-success-omani-smessays-smef-chief/ [Accessed 21 May 2018].
Shane, S. (2009). Failure Is a Constant in Entrepreneurship. [online] You’re the Boss Blog. Available at: http://boss.blogs.nytimes.com/2009/07/15/failure-is-a-constant-in-entrepreneurship/?_r=0 [Accessed 21 May 2018].
SyndiGate.info (2017). Dramatic Drop in Number of SMEs in Oman in 2017: Report. [online] Al Bawaba. Available at: https://www.albawaba.com/business/dramatic-drop-number-smes-oman-2017-report-969548 [Accessed 21 May 2018].
TimesofOman (2014). Omani small and medium enterprises facing tremendous challenges: CEO National Company for Projects and Management. [online] Times of Oman. Available at: http://timesofoman.com/article/30430 [Accessed 21 May 2018].
Woods, T. (2016). The 5 Skills of The Innovator. [Blog] hypeinnovation.com. Available at: https://blog.hypeinnovation.com/the-5-skills-of-the-innovator [Accessed 21 May 2018].
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2019 Advances in Social Sciences Research Journal
This work is licensed under a Creative Commons Attribution 4.0 International License.
