Assistant Professor Marin Jovanovic Wins the 2020 Thomas P. Hustad Best Paper Award

Dr. Marin Jovanovic and co-authors have been awarded the 2020 JPIM Thomas P. Hustad Best Paper Award after a rigorous process involving the editorial team at the Journal of Product Innovation Management and an outside review committee. The paper has been selected for its outstanding scholarly rigor, novelty, and likelihood of having long-term impact on the discipline.


Balloons and portrait of Assistant Professor Marin Jovanovic

Photo by Ian Dooley on Unsplash

In the award-winning research paper “Value Creation and Value Capture Alignment in Business Model Innovation: A Process View on Outcome-Based Business Models”, Prof. David Sjödin, Prof. Vinit Parida, Dr. Ivanka Visnjic, and Dr. Marin Jovanovic explore business model innovation in the industrial manufacturing industry.

Examining industrial manufacturers who shift from selling products to selling outcome-based services, the researchers find that the effectiveness of business model innovation relies on provider-customer collaboration in three process phases: value proposition definition, value provision design, and value-in-use delivery. Building on existing literature, the paper suggests that the success of business model innovation hinges on continuous alignment of value creation and value capture activities.

The paper contributes to literature and industry practices by developing a process model that provides a thorough understanding of how value creation and value capture processes are ensured. The so-called Digital Servitization Cube can be used by manufactures to systematically map and categorize their product-service-software strategies.

“We are very proud that Marin Jovanovic has been awarded the JPIM Best Paper Award. The publication and award by JPIM demonstrate the capacity of our faculty and is an excellent example of how successful collaboration with other faculties leads to interesting research opportunities and results”

- Carsten Ørts Hansen, Head of the Department of Operations Management

The page was last edited by: Department of Operations Management // 01/25/2024