A Practitioners Perspective on The Benefits of Open Innovation

Timothy Eric Stroh

Abstract


The common approaches to innovation deployed by many corporations are ineffective and associated with a collection of well defined risks including hype driven and biased decision making, risk aversion, and disruption. In contrast, open innovation programs reduce these same risks and deliver a variety of substantial benefits ranging from increased innovation speed, reduced costs, and increased probability of success.

Keywords


Open innovation, strategy, innovative performance, innovation

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DOI: https://doi.org/10.24840/2183-0606_007.002_0002



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© FEUP EdiçõesThe International Journal on Multidisciplinary Approaches on InnovationISSN 2183-0606