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university collaborations) with an emphasis on how researchers and practitioners can explore
phenomena-based issues in academic research (Van de Ven and Johnson, 2006). However,
these analyses still demand a value integration model with humanity at the center to
comprehensively explain value exchange and creation, as shown in Figure 2.
5. Contributions
Lindblom and Cohen (1979) asked:
Why are academic researchers not satisfied with
limited responses from practitioners regarding knowledge based on academic research
outcomes?
The problem of a disconnection between academic research and industry practice
stems from the distinct interests and domains of the two communities, as well as from
significantly different communication styles, which may hamper understanding and
familiarity (Antonacopoulou, 2009; Austin, 2010). Industry-university collaborations can
help to bridge the gap, providing a new opportunity based on a particular industry-based
research program. However, such an approach is far more easily taken in theory than in
practice, as it requires the determination of a (likely lonely) researcher over the course of
years and decades. As the American poet Robert Frost (1874-1963) pointed out in “The Road
Not Taken,” we choose our own roads and set out on lives of unknown directions and
futures. As we reach the crossroads of our academic careers, the direction we choose should
be that which enhances our professional standing along our chosen path. Particularly in the
field of general management, phenomena-based industry-university collaborative research is
a relatively unpopular option, but a lonely road might lead to value creation and value
exchange through the creation of a single “teaching-research-service” identity, creating,
through determination and commitment, a wise and powerful traveler.