Towards a balanced view of innovations

Purpose – Based on theoretical input from punctuated equilibrium theory and the exploration vs exploitation paradigm, a set of innovation drivers and propositions is developed. The purpose of this paper is to present a starting point for a more comprehensive investigation of companies’ innovation trajectories towards balance. Design/methodology/approach – The paper builds on a thorough analysis of the literature and suggests the notion of “strategic inflection points” (SIPs). These points are supposed to mark the transgression between innovation types as reflected in respective performance enhancements. Findings – The propositions developed in this paper serve as a basis for further understanding and for subsequent empirical research. Practical implications – Managerial implications relate to the understanding that companies need to balance innovation types in order to increase performance. Originality/value – This paper discusses a variety of innovation types and suggests the notion of SIPs.