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Open innovation - use of purposive inflows and outflows of knowledge to accelerate internal innovation, and expand the markets for external use of innovation.
- Google, IBM and P&G are examples of open innovation
A thought out search of fresh ideas in the "crowd" is capable to preserve a huge amount of time and resources for a corporation.
- they accept that no company has a monopoly
on all smart people
- a belief that makes it acceptable and even necessary
Closed innovation companies innovate by using only internal resources.
- to work with people inside and outside the company
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- Apple Computer and Trader Joe's are examples of closed innovation
A company committed to this approach has several core beliefs.
- all the smart people in the industry work for it
- their company must discover
- develop and ship its own R&D output to prosper
Innovation
External innovators often don't need financial motivation.
The company is only required to regulate correct "management ideas" that makes it easy to gather, discuss and analyze the flow of proposals and identify the interest
the process or translating an idea or invention into a good or service that creates value or for which customers will pay.
- must be replicable at economical cost and must satisfy a specific need
- involves deliberate application of information, imagination and initiative in deriving greater
Many of them really contribute to the development of innovation and companies.
Innovation
Bukanov Denis
Tsvetkova Ekaterina
Gorbunova Julia
Gladkih Ksenia