Open Innovation: definition and explanation

What is open innovation?The term open innovation means a situation where an organisation doesn’t just rely on their own internal knowledge, sources and resources such as their own staff or RD for example for innovation of products, services, business models, processes etc. but also uses multiple external sources such as customer feedback, published patents, competitors, external agencies, the public etc. to drive innovation.

Check out this blog article for a general innovation definition by Really Good Innovation.

More Innovation Resources:

Innovation Culture: the important role of Corporate Culture in driving Innovation

Innovation Culture: the important role of Corporate Culture in driving Innovation

Innovation, creativity and overall success of a company are highly determined by the presence of an effective corporate culture.

5 Simple Steps to Digitally Transform Your Business

5 Simple Steps to Digitally Transform Your Business

How can you embrace digital transformation successfully? Consider these concepts:

4 Reasons Why You Need To Focus On Innovation

4 Reasons Why You Need To Focus On Innovation

Look at the reasons innovations is so important, and you will have a better understanding of why you need to innovate every chance you get.