-
Strategic application of outbound open innovation
October 16, 2011 Editor 0
Abstract
Purpose – This paper aims to examine the strategic dimension of outbound open innovation (OOI) with a focus on identifying strategic objectives for exploiting knowledge externally. It reviews the literature, presents a list of strategic objectives, and introduces a novel categorization. Design/methodology/approach – A literature review of works combining strategy, and OOI lead to conceptualizing an array of strategic benefits including novel concepts. The review focuses on the empirical observations reported by previous research. Findings – This paper presents the most comprehensive description of strategic objectives that may be pursued by OOI, with several case examples. Objectives are classified to six categories: gaining access to new knowledge, multiplication of own technologies, learning from knowledge transfer, controlling technological trajectories, external exploitation as a core business model and exerting control over the market environment. Research limitations/implications – The paper limits itself to discussing the non-monetary objectives and incentives for engaging in outbound OI, or in other words, the potential that outbound OI has in creating strategic business opportunities. Practical implications – For the manager, acknowledging the external opportunities for a firm’s knowledge assets allows shifting from “just profit” externalization to a more strategic control over the company’s future and its environment. Originality/value – Whereas the common viewpoint in connecting between strategy and OOI is to minimize the negative impact, while retaining monetary benefits, this paper views OOI as an enabler of further strategic mobility and flexibility. The categorized list of strategic objectives also includes some novel additions to current understanding.
Go to SourceRelated Posts
Knowledge adaptation key to local innovation, finds review
- New Learning Programs Provide Comprehensive Knowledge on How to Manage Innovation
OpenInnovation: Past and Present
Effects of knowledge spillovers on innovation and collaboration in science and technology parks
- Innovation as a knowledge-based outcome
- Separating the wheat from the chaff – a taxonomy of open innovation
Categories: International
Tags: Innovation, knowledge, outbound, paper, strategic
Separating the wheat from the chaff – a taxonomy of open innovation A Bretton Woods for Innovation
Subscribe to our stories
Recent Posts
- SL Crowd Green Solutions September 21, 2020
- Digital transformation in the banking sector: surveys exploration and analytics August 3, 2020
- Why Let Others Disrupt You? Take the Smart Self-Disruption Journey! August 3, 2020
- 5 Tips for Crowdfunding During the Pandemic August 3, 2020
- innovation + africa; +639 new citations August 3, 2020
Categories
Archives
Popular Post-All time
- A review on biomass-based... 0.9k views
- Can blockchain disrupt ge... 682 views
- Prize-winning projects pr... 678 views
- Apply Now: $500,000 for Y... 605 views
- Test Your Value Propositi... 533 views