The brave new world of open innovation

The brave new world of open innovation Purpose – The purpose of this paper is to examine the concept of open innovation (OI). Design/methodology/approach – The paper looks at different forms of OI, including suggestive/participative, suggestive/invitational, directed/invitational and directed/participative. Findings – The paper suggests that in choosing which approach to adopt it is important to first define your strategy and identify what you want to get out of OI. It also suggests that OI needs executive level commitment if it is to succeed, as this is generally the first and most important obstacle that companies face in trying to adopt it. Originality/value – The paper provides useful information on the concept of OI in corporate strategy. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Strategic Direction Emerald Publishing

The brave new world of open innovation

Strategic Direction, Volume 27 (5): 2 – Apr 19, 2011

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Publisher
Emerald Publishing
Copyright
Copyright © 2011 Emerald Group Publishing Limited. All rights reserved.
ISSN
0258-0543
DOI
10.1108/02580541111125725
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to examine the concept of open innovation (OI). Design/methodology/approach – The paper looks at different forms of OI, including suggestive/participative, suggestive/invitational, directed/invitational and directed/participative. Findings – The paper suggests that in choosing which approach to adopt it is important to first define your strategy and identify what you want to get out of OI. It also suggests that OI needs executive level commitment if it is to succeed, as this is generally the first and most important obstacle that companies face in trying to adopt it. Originality/value – The paper provides useful information on the concept of OI in corporate strategy.

Journal

Strategic DirectionEmerald Publishing

Published: Apr 19, 2011

Keywords: Corporate strategy; Innovation; Open management

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