Open innovation and its necessity in organizations
Subject Areas : General
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Keywords:
Abstract :
By implementing open innovation management, the businesses can enjoy reduction of innovation cost and shorter maturity time of the innovative ideas. Even several businesses can participate in open innovation. Through this, the companies shorten their way to harmonization with the market and attracting novel ideas in the more dynamic, competitive, and wider markets. Thus, the management needs to recognize the outcomes of different market business models and prepare the infrastructure in a way to guarantee their business's survival in the innovation environment. Open innovation is one of the modern innovation paradigms which is perfectly implemented in multination companies. The tools introduced by the paradigm ensure maximum value added in the businesses along with improvement of quality level and satisfaction of all customers. The present study was conducted as a review research, in which necessity of the implementation of open innovation to achieve customer satisfaction and reengineering the business is emphasized through defining the open innovation, proposing conceptual models, and introducing practical models in Iran and other countries. Given that majority of large/average/small producing businesses lack functional research and development department to bring in innovation-based technologies, the national open innovation plan is a solution for the current challenges ahead of industrial units. The plan provides a dynamic and mutual interaction among the owners of the industries and producing units to employ all the untouched resources specially academic environments, university professors, students, and innovating entrepreneurs. The plan forms the triangle of industry, government, and university
