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For Open Innovation

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Debating Innovation

Part of the book series: Palgrave Debates in Business and Management ((PDBM))

Abstract

We argue in favor of Open Innovation (OI). It is the idea that firms can intentionally appropriate complementary knowledge from external sources. OI considers inbound and outbound activities—for profit or not—to access, transform, use, or release knowledge, through the establishment of partnerships and alliances. We suggest that OI should not be considered as an independent theory, but rather as an evolution of the linear (closed) innovation process—a strategic response to profound transformations of technological, social, and economic regimens. However, regardless of its popularity as a strategic tool for value creation, OI is not yet a formal activity in firms, and therefore it does not have a considerable effect in their operational performance. In this context, organizational culture plays a key role. We argue that once formalized, OI can be a powerful strategic asset to develop new business models for products and services.

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Author information

Authors and Affiliations

  1. University of Southern Denmark (SDU), Odense, Denmark

    Lykke Margot Ricard

  2. Swansea University, Swansea, Wales, UK

    Sergio Jofre

Authors
  1. Lykke Margot Ricard
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  2. Sergio Jofre
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Correspondence to Lykke Margot Ricard .

Editor information

Editors and Affiliations

  1. Department of Innovation and Technology, University of Southern Denmark, Odense, Denmark

    Alf Rehn

  2. Department of Working Life and Innovation, School of Business and Law, University of Agder, Grimstad, Norway

    Anders Örtenblad

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Ricard, L.M., Jofre, S. (2023). For Open Innovation. In: Rehn, A., Örtenblad, A. (eds) Debating Innovation. Palgrave Debates in Business and Management. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-16666-2_12

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