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Born Global Market Dominators and Implications for the Blockchain Avantgarde

Born Global Market Dominators and Implications for the Blockchain Avantgarde
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Author(s): Simone Wurster (Berlin University of Technology, Germany), Moritz Böhmecke-Schwafert (Berlin University of Technology, Germany), Frank Hofmann (Berlin University of Technology, Germany) and Knut Blind (Fraunhofer Institute for Systems and Innovation Research & Berlin University of Technology, Germany)
Copyright: 2018
Pages: 30
Source title: Corporate and Global Standardization Initiatives in Contemporary Society
Source Author(s)/Editor(s): Kai Jakobs (RWTH Aachen University, Germany)
DOI: 10.4018/978-1-5225-5320-5.ch005

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Abstract

Issues of dominance in the market place, “standards wars,” and “battles for dominance” between large companies are frequently addressed by researchers and the business press alike. The existence of companies that could establish internationally dominant solutions to customers' problems within a few years after their founding is quite unknown and the reasons for their success are hardly investigated so far. Therefore, they are not covered by traditional stage models for the establishment of dominant solutions. Presenting 22 cases and a new success factors model, this chapter shows how young companies can successfully establish their technologies as dominant solutions in the global market. Based on the studies' result, the authors then have a look at the groundbreaking IT invention of blockchain that is expected to disrupt many industries. The most prevalent success factors of the study are discussed along with the current blockchain innovation system. Their degree of significance for the success of international blockchain innovators is hypothesised for further empirical analyses.

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