Toward a theory of sustainable grouth of the firm

摘要

This paper presents ‘needs evolution model’ in terms of ‘needs-determined innovation’ on the premises that how innovative a technology may be, unless it prompts a customer to pay willingly by triggering new appealing needs attribute(s) that brings about customer satisfaction, it is of no use at all, and that no customer will pay until he/she expects to get satisfaction without being dissatisfied, and that while a customer expects his/her needs 100% satisfied, he/she always becomes excited and has the maximum level of willingness to pay (WTP). This notion provides a firm with a clear-cut logic of strategy formulation & implementation, ‘Seek Norm as Ideal & Get-to-Norm’ for value creation. This paper finally proposes a framework for theorizing sustainable growth of the firm by showing how to meet customer needs ideally at each stage of needs evolution from holism, synthesis and dynamism points of view with a stronger rationale borrowed from physics, bio-ecology & complexity theory.