Regulation architecture of open innovation under digital transformation: Case study on telemedicine and for-profit-hospital
This research seeks to answer the following research question “What kind of regulation architecture can stimulate creative destruction and growth of two different types of new industries like telemedicine, and for-profit-hospital?” Online interview method was used to investigate the telemedicine ind...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Elsevier
2024-03-01
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| Series: | Journal of Open Innovation: Technology, Market and Complexity |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2199853124000465 |
| _version_ | 1797217105095950336 |
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| author | JinHyo Joseph Yun Xiaofei Zhao Zheng Liu |
| author_facet | JinHyo Joseph Yun Xiaofei Zhao Zheng Liu |
| author_sort | JinHyo Joseph Yun |
| collection | DOAJ |
| description | This research seeks to answer the following research question “What kind of regulation architecture can stimulate creative destruction and growth of two different types of new industries like telemedicine, and for-profit-hospital?” Online interview method was used to investigate the telemedicine industry and for-profit-hospitals at Daegu-Gyeongbuk province in South Korea and Cardiff-Wales in the UK. Findings provided following grounded theories. First, the way to create a converted new industry is not deregulation but regulation conversion. Though, deregulation helps to expand the modern market, it could disturb the emergence and growth of new markets. Second, the regulation can be an essential policy method to create emerging new markets when there are enough (potential) suppliers owing to technological developments or the accumulation of a new workforce equipped with new technologies. According to the UK for-profit-hospitals, regulations for consumer protection and decreasing transaction costs or complexity in the new market could trigger market creation. Third, digital transformation has motivated open innovation dynamics in all industries. The expanded open innovation dynamics with digital transformation can promote, most of all, the appearance of converted new industries like telemedicine. |
| first_indexed | 2024-04-24T11:56:34Z |
| format | Article |
| id | doaj.art-7539cb918cb34d3fb497a30839adf9eb |
| institution | Directory Open Access Journal |
| issn | 2199-8531 |
| language | English |
| last_indexed | 2024-04-24T11:56:34Z |
| publishDate | 2024-03-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Journal of Open Innovation: Technology, Market and Complexity |
| spelling | doaj.art-7539cb918cb34d3fb497a30839adf9eb2024-04-09T04:13:05ZengElsevierJournal of Open Innovation: Technology, Market and Complexity2199-85312024-03-01101100252Regulation architecture of open innovation under digital transformation: Case study on telemedicine and for-profit-hospitalJinHyo Joseph Yun0Xiaofei Zhao1Zheng Liu2Daegu Gyeongbuk Institute of Science and Technology, South Korea; Open Innovation Academy, South Korea; Corresponding author at: Daegu Gyeongbuk Institute of Science and Technology, South Korea.Daegu Gyeongbuk Institute of Science and Technology, South Korea; Open Innovation Academy, South KoreaUniversity of Greenwich, UKThis research seeks to answer the following research question “What kind of regulation architecture can stimulate creative destruction and growth of two different types of new industries like telemedicine, and for-profit-hospital?” Online interview method was used to investigate the telemedicine industry and for-profit-hospitals at Daegu-Gyeongbuk province in South Korea and Cardiff-Wales in the UK. Findings provided following grounded theories. First, the way to create a converted new industry is not deregulation but regulation conversion. Though, deregulation helps to expand the modern market, it could disturb the emergence and growth of new markets. Second, the regulation can be an essential policy method to create emerging new markets when there are enough (potential) suppliers owing to technological developments or the accumulation of a new workforce equipped with new technologies. According to the UK for-profit-hospitals, regulations for consumer protection and decreasing transaction costs or complexity in the new market could trigger market creation. Third, digital transformation has motivated open innovation dynamics in all industries. The expanded open innovation dynamics with digital transformation can promote, most of all, the appearance of converted new industries like telemedicine.http://www.sciencedirect.com/science/article/pii/S2199853124000465RegulationRegulation conversionDeregulationTelemedicineFor-profit-hospitalOpen innovation |
| spellingShingle | JinHyo Joseph Yun Xiaofei Zhao Zheng Liu Regulation architecture of open innovation under digital transformation: Case study on telemedicine and for-profit-hospital Journal of Open Innovation: Technology, Market and Complexity Regulation Regulation conversion Deregulation Telemedicine For-profit-hospital Open innovation |
| title | Regulation architecture of open innovation under digital transformation: Case study on telemedicine and for-profit-hospital |
| title_full | Regulation architecture of open innovation under digital transformation: Case study on telemedicine and for-profit-hospital |
| title_fullStr | Regulation architecture of open innovation under digital transformation: Case study on telemedicine and for-profit-hospital |
| title_full_unstemmed | Regulation architecture of open innovation under digital transformation: Case study on telemedicine and for-profit-hospital |
| title_short | Regulation architecture of open innovation under digital transformation: Case study on telemedicine and for-profit-hospital |
| title_sort | regulation architecture of open innovation under digital transformation case study on telemedicine and for profit hospital |
| topic | Regulation Regulation conversion Deregulation Telemedicine For-profit-hospital Open innovation |
| url | http://www.sciencedirect.com/science/article/pii/S2199853124000465 |
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