Conclusions and Future Endeavors

In this final chapter, we summarize the key findings and insights from a broad intersectional corpus of literature on adapting existing innovation theories to the strategic decisions of firms in peripheries. Overall, this project shows long-term managerial and policy implications related to the novel research questions and systematization of existing knowledge on leveraging specific resources—i.e., capabilities, skills, human capital, or connectedness—for knowledge creation and exploitation in peripheral areas. We discuss the broader implications of promoting innovation in peripheral areas, including its alignment or conflicts with other policy objectives. Focusing on connecting theory and practice, we suggest that firms in the peripheries might need to make a more significant effort to transform their compensation strategies into exploitation strategies that involve a more active role in overcoming local innovation constraints and reaping innovation benefits found in the periphery.