Open Innovation
“The process a company employs to externally search for…. research, innovation, new technologies and products”. The first advocate of open innovation was Henry Chesbrough of using strategic commitment to use external environment to improve innovation performance.
Advantages and Risks of Open Innovation
Advantages and Risks of Open Innovation
- Importing new ideas multiplies innovation building blocks
- Exporting ideas raises cash
- Exporting signals true worth of an innovation
- Exporting clarifies core business