Abstract:

Open innovation takes many forms from crowdsourcing to structures, organizational alliances, and strategic co-ventures. Open innovation strategies acknowledged good ideas from anywhere “the outside-in approach or Intellectual property” (IP), created added value due to its licensing arrangement, joint ventures, and other strategic collaborations. The combination of internal and external ideas and paths to market to make advances in processes or technologies, a striking model for structuring collaborations between developed and developing countries. The crafty approach designed new ways of working.

Innovation “use of purposive inflows and outflows of knowledge to accelerate internal advances and expand the markets for external use of modernization” defined innovation (Chesbrough, 2006). The definition emphasized, importance of organizations putting greater emphasis on collaboration and networking (Vanhaverbeke, 2006).

A well-structured article, goals clearly stated and a recently published editorial. Findings displayed in the form of figure and discussion. The use of the point method approach carefully analyzed the commentary. The usage of the open innovation model highlighted the relevance of recent research on the topic.

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