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Open innovation in SMEs : a process model for successful implementation

Pellegrino, A.C. (2017) Open innovation in SMEs : a process model for successful implementation.

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Abstract:Over the past decades, open innovation has received a lot of attention and was found to be extremely important for SMEs due to their lack of financial resources and technical capabilities. Even though SMEs can use open innovation to overcome these limitations, studies proved that SMEs struggle to implement open innovation. Therefore, a process model to guide SMEs in the open innovation implementation was necessary. This paper provides a process model that includes the identification of a need for open innovation as well as the evaluation of the conditions under which open innovation is likely to be successful for SMEs, the choice of the type of open innovation (i.e. inbound, outbound or coupled open innovation) and in which phase of the innovation process to implement open innovation (i.e. exploration or exploitation), and the selection of the open innovation method and partner.
Item Type:Essay (Bachelor)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:International Business Administration BSc (50952)
Link to this item:http://purl.utwente.nl/essays/72683
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