n Management Today - SMEs opening up their innovation




Open Innovation is the new trend in innovation circles. Since Dr Henry Chesbrough coined the phrase 'open innovation' in his book in 2003, it has become a hot topic for innovation practitioners, writers and researchers. Open Innovation can be described as connecting external innovation resources (ideas, technology, partners, etcetera ) with a company's own internal innovation resources and vice versa. This contrasts to closed innovation where all innovation happens within the boundaries of the organisation. The main focus of study within Open Innovation has mainly been focusing on large organisations.


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