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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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Opportunity Thinking Approach to Open Innovation

Opportunity Thinking Approach to Open Innovation

Seeing Clearly the Elephant in the Room

(p.91) 5 Opportunity Thinking Approach to Open Innovation
Open Innovation

Pam Henderson

Francesca Lorenzini

Gregory P. Pogue

Oxford University Press

This chapter explores the integration of open innovation and opportunity thinking as tools that enable practitioners to capitalize on collaborative strategies across disciplines and organizational structures, treating these interactions as potential sources of knowledge that have the promise of uncovering larger market opportunities. In order to clarify the term “opportunity,” this chapter draws on past literature addressing similar theoretical frameworks, including entrepreneurial alertness, entrepreneurial readiness, and heuristics. In union with these theories, the chapter outlines Six Sources of Opportunity which allow practitioners to identify opportunity within and outside their organization in an open innovation environment. The chapter concludes with the application of these theories to two corporate examples, namely those of Eastman Chemical Company and The North Face.

Keywords:   Entrepreneurial alertness, heuristics, open innovation, entrepreneurial readiness, opportunity thinking

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