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Article

Abstract

Measuring innovation outputs has been accomplished mainly through the relationship between innovation management and product design and development, especially for patenting. Today, companies are facing increased turbulence and complexity in the business environment, such as globalization, digitalization and mobilization. To meet these challenges, both the popular and the academic press are advising companies to focus their attention toward innovation in order to create and sustain competitive advantage. A firm‘s performance depends on how much its managers can mobilize the knowledge resources of individuals and teams in its value chain and how well they can turn these resources into activities that lead to value creation in hyper-competitive markets. Knowledge management literature reveals the increasing importance of innovation in those high-tech manufacturing firms, in which knowledge turns into the main source of competitive advantage. Innovation in high-tech firms is progressively turning into a systematic process, especially for determined high-tech industries such as electronic products. The study aims to develop an integrated model of innovation value chain (IVC), the model integrates knowledge management and innovation management in high-tech Industries from a knowledge-based theory perspective and integrates IVC to reach value creation and then to achieve sustainable competitive advantage. IVC is a thinking tool which can be used to define those enterprises involved in innovation activities such as product development. Each link in the chain needs to add value to innovation. IVC helps think through the often-complex relationships in product development and look for improvements in relationships (with suppliers, customers, partners and competitors) and partnerships. The integrated model inputs from knowledge-based competition (Globalization, digitalization and mobilization) to integrate IVC to reach value creation (employees‘, suppliers‘, partners‘ customers‘ and competitors‘ value) and then to achieve the outcome: sustainable competitive advantage. The importance of the proposed model was theoretically discussed for practitioners and future researchers. The integrated IVC model can act as a list of items for high-tech Industries to address when adopting innovation value chain. This helps to ensure that the essential issues and approaches are covered during implementation. For academics, it provides a common language for them to discuss and study the approaches crucial for the success of innovation value chain in high-tech Industries.

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