It is difficult to dissociate the notions of new value creation from innovation. Successful innovation, be it technical, commercial or organisational, is always a source of new value, but innovation is not the only source of new value creation. For example, human skills or specific resources that are applied to operations in association with key factors of success can lead to new value creation (Deeds et al. 1998). These skills and resources may, for example, ensure a better control of the key factors, thus entailing a new competitive advantage.