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Open InnovationAcademic and Practical Perspectives on the Journey from Idea to Market$
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Arthur B. Markman

Print publication date: 2016

Print ISBN-13: 9780199374441

Published to Oxford Scholarship Online: June 2016

DOI: 10.1093/acprof:oso/9780199374441.001.0001

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The Process of Open Innovation

The Process of Open Innovation

(p.1) 1 The Process of Open Innovation
Open Innovation

Arthur B. Markman

Oxford University Press

Innovation refers to processes that companies use to generate new ideas and bring those ideas to bear on their business either as new products or as process improvements. Open innovation recognizes that firms (or specific divisions within firms) may not have all of the resources they need to innovate successfully in house. Instead, mechanisms are needed to expand the capabilities of a firm as needed in order to bring new technology and processes to market. A key trend during the past two decades has been for companies to look beyond their own employees to bring more knowledge and expertise to bear on the innovations they create. This chapter examines some of the key frameworks that have been developed for thinking about open innovation and then places the other chapters in this volume in context as an orientation to readers.

Keywords:   Open innovation, evaluation, idea generation, ecosystems, evaluation, design, incubation

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