Navigating Business Innovation for Sustainable Growth in an Emerging Industry. : Introducing a framework identifying collaborators within Biorefinery.

Abstract: Innovation is seen as a critical factor in corporate success, however, there is a tendency to view innovation too narrowly, which has a harmful effect on competitive advantage and a company's diversity. To maintain a competitive edge and avoid resemblance with other firms in the same industry it is crucial to have a holistic perspective on innovation anchored in business innovation. Therefore, when handling business and technology innovation, there is a need of evolving and innovating along the business model in order to achieve sustainable growth. The purpose of this thesis was to analyze the existing problem of insufficient structure to business innovation and inadequate pathways for achieving sustainable growth. In addition, provided theoretical and practical outcomes by presenting an aid for companies to move forward in their business development. Therefore, this thesis aimed to answer the research questions: How can a framework, which maps relevant players in an emerging industry and determines their significance for future innovative collaboration, be defined? and Using this framework, how can Sandvik Materials Technology move forward with potential business opportunities within the biorefinery market? The empirical study of the thesis included 21 interviewees, of which 15 were internal within Sandvik Material Technology (SMT) and the remaining with players within the biorefinery market. The thesis was divided into two sprints, where the first sprint included a literature review and the internal interviews at SMT, which resulted in the creation of the framework. The second sprint involved using the framework in order to create an overview of the biorefinery market. Hence establishing contact with the chosen case players and perform introductory interviews. This thesis project has taken on the task of identifying SMT’s environment within business innovation. Through this, innovation, sustainability, new technologies and collaborations were found to be related to achieving sustainable growth for SMT, and the need of understanding the potential of emerging industries. In the process of answering the first research question a framework fulfilling this task has been created. By answering the second research question the functionality of the created framework has been validated, and the thesis has proposed four potential partners for future innovative business collaborations with the ambitions of SMT proceeding the dialogue. Though some progress has been made expressing the use of innovation over businesses as a whole, there is still a long way to go for practicing business innovation and expressing these actions from a methodological standpoint.