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Open Innovation as a Business Performance Accelerator: Challenges and Opportunities for the Firms’ Competitive Strategy

Conference paper
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Part of the Smart Innovation, Systems and Technologies book series (SIST, volume 172)

Abstract

Open innovation is a paradigm that implies blurring the boundaries between the firm and its environment to enable the transfer of innovations both inward and outward the organization by leveraging external sources of new ideas and knowledge such as other companies, consumers, and wider communities. It is considered to be the opposite of the closed innovation approach when new ideas and knowledge are generated inside the firm without involving outside parties. Open innovation approach is often associated with research and development of new products, while its application in other contexts is still under-researched. This paper contributes to filling this gap by analyzing the open innovation in the marketing and public relations industry based on the case of the multinational company Publicis Groupe with the focus on its recent transformative initiative, “Marcel” platform launched in 2018. Perspectives and challenges associated with this initiative and practical implications for the wider context are discussed.

Keywords

Open innovation Strategy Competitive advantage 

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Copyright information

© Springer Nature Singapore Pte Ltd. 2020

Authors and Affiliations

  1. 1.Plekhanov Russian University of EconomicsMoscowRussia
  2. 2.Lomonosov Moscow State University Business SchoolMoscowRussia

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