A value network is characterized by a particular “industry architecture” (Jacobides et al., 2006) – templates of co-specialized agents and assets that circumscribe an industry’s contours and provide a “set of rules and roles” about “who can do what” and “who gets what” (Jacobides et al., 2006). Once a particular architecture emerges and stabilizes, it is difficult to change it because of issues of compatibility, interoperability, regulation and existing preferences.
(Ansari and Krop, 2012: 1359)
This paper is excellent – a must read
Ansari, S. and Krop. P. 2012. Incumbent performance in the face of a radical innovation: Towards a framework. Research Policy 41) 1357–1374.
Jacobides, M., Knudsen, T., Auger, M., 2006. Benefiting from innovation: value creation, value appropriation and the role of industry architectures. Research Policy 35, 1200–1221.
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