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Approaches for Selecting Product Innovation Projects in U.S. Food and Agribusiness Companies

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  • Roucan-Kane, Maud
  • Gray, Allan W.
  • Boehlje, Michael

Abstract

Although executives acknowledge the strong link between innovations and performance, they are still challenged by crossing the bridge from great ideas to revenue. The objective of this paper is to understand better the approaches used by the food and agricultural sector to select product innovation projects, and to draw a picture of an innovation portfolio of a food and agribusiness company. This paper adds to the management literature by studying a different sector, the U.S. agricultural sector and focusing on the implementation of theoretical models. The survey of about 100 companies, indicate that the food and agribusiness sector tends to use cross-functional teams and several selection methods when they select product innovation projects. This selection process yields to a diversified portfolio in terms of potential for return, time to market, and costs already incurred. However, companies tend to be biased towards in-house and low risk projects. Company and industry characteristics’ effects on the results are present but limited. It is important to note that this dissertation does not study the effect of these practices on performance, which is a necessary follow-up.

Suggested Citation

  • Roucan-Kane, Maud & Gray, Allan W. & Boehlje, Michael, 2011. "Approaches for Selecting Product Innovation Projects in U.S. Food and Agribusiness Companies," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 14(4), pages 1-18, November.
    • Handle: RePEc:ags:ifaamr:117599
    DOI: 10.22004/ag.econ.117599
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    References listed on IDEAS

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    4. Boehlje, Michael & Roucan-Kane, Maud, 2009. "Strategic Decision Making Under Uncertainty: Innovation and New Technology Introduction during Volatile Times1," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 12(4), pages 1-21, November.
    5. Allan Gray & Michael Boehlje & Vincent Amanor-Boadu & Joan Fulton, 2004. "Agricultural Innovation and New Ventures: Assessing the Commercial Potential," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(5), pages 1322-1329.
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    Cited by:

    1. Marcello Stanco & Concetta Nazzaro & Marco Lerro & Giuseppe Marotta, 2020. "Sustainable Collective Innovation in the Agri-Food Value Chain: The Case of the “Aureo” Wheat Supply Chain," Sustainability, MDPI, vol. 12(14), pages 1-14, July.
    2. Eric T. Micheels & Andreas Boecker, 2017. "Competitive strategies among Ontario farms marketing direct to consumers," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 5(1), pages 1-23, December.
    3. Antonino Galati & Giuseppina Migliore & Alkis Thrassou & Giorgio Schifani & Giuseppina Rizzo & Nino Adamashvili & Maria Crescimanno, 2023. "Consumers’ Willingness to Pay for Agri-Food Products Delivered with Electric Vehicles in the Short Supply Chains," FIIB Business Review, , vol. 12(2), pages 193-207, June.
    4. Roucan-Kane, Maud & Gramig, Benjamin M. & Widmar, Nicole J. Olynk & Ortega, David L. & Gray, Allan W., 2013. "U.S. Agribusiness Companies and Product Innovation: Insights from a Choice Experiment Conducted with Agribusiness Executives," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 16(4), pages 1-18, November.
    5. Ke Zheng & Yufeng Li & Chaodang Wu, 2022. "How Do the Chinese New Farmers’ Entrepreneurial Talents Drive the Business Model Innovation of Agricultural Business Organizations? Case Study Based on Grounded Research," Businesses, MDPI, vol. 2(1), pages 1-13, March.

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