Yun, JinHyo Joseph, Zhao, Xiaofei and Liu, Zheng ORCID: https://orcid.org/0000-0001-7240-3501 (2024) Regulation architecture of open innovation under digital transformation: case study on telemedicine and for-profit-hospital. Journal of Open Innovation: Technology, Market, and Complexity, 10 (1):100252. pp. 1-12. ISSN 2199-8531 (Online) (doi:10.1016/j.joitmc.2024.100252)

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Abstract

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.

Item Type:	Article
Uncontrolled Keywords:	regulation; regulation conversion; deregulation; telemedicine; for-profit-hospital; open innovation
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Faculty / School / Research Centre / Research Group:	Faculty of Business Greenwich Business School > Networks and Urban Systems Centre (NUSC) Greenwich Business School > School of Business, Operations and Strategy
Last Modified:	17 Oct 2024 16:21
URI:	http://gala.gre.ac.uk/id/eprint/46456

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