Strategic Decision Factors for Key Innovation Leaders in Undefined High-Tech Market Environments: Evidence from the Urban Air Mobility Industry

Abstract

Advances in technology have paved the way for Urban Air Mobility (UAM) as a new means of transportation providing solutions for both inner-city and regional transportation. Novel vertical take-off and landing (VTOL) vehicles promise to be less noisy and safer, thus allowing for an integration of UAM into current mobility systems. However strategic decision factors, supporting VTOL manufacturers to successfully commercialize their innovation in a non-existent market, are still mainly unassessed. This research examines which decision factors need to be considered by VTOL manufacturers within the undefined high-tech market environment and how these manufacturers can achieve commercial success. Grounded theory is deployed to derive theoretical assumptions based on 16 expert interviews. Additionally, innovation strategy literature and the Profiting from Innovation (PFI) framework is utilized to derivate strategic implications influencing the commercial success of the innovation. Eight decision factors as well as strategic implications for VTOL manufacturers were identified enlarging current academic UAM literature. Furthermore, this research proposes an extension to the underlying innovation strategy literature. The PFI framework is enhanced by a Peripheric Sphere, incorporating the influence of external factors on commercial success in undefined high-tech industry environments