The Moderating Effect of Openness on Opportunity Recognition in Incumbents: Cross-Industry Sensemaking for Framing Technological Changes
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21st CINet Conference: Practicing Continuous Innovation in Digital Ecosystems
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In this research, we look to expand the available knowledge about incumbent responses to technological change by focusing on how a specific setting of open strategy, in the form of a collaborative cross-industry strategizing project, impacts the way managers of incumbent firms interpret and evaluate opportunities and threats arising from technological changes. We employ the concepts of future-oriented sensemaking and technological frames to investigate how groups made up of individuals from diverse industry backgrounds manage to deal with a situation of uncertainty by making sense of, framing, and then categorizing an impending technological change into coarse strategic categories. We specifically look at how deliberate openness, through diversity of participants in a number of categories (e.g., organizational function, industry background, skills and knowledge) fosters the formation of collective technological frames, which shape the basis for these coarse strategic categorizations.