Profiting from External Innovation: A Review of Research on Open Innovation
KGI - Keck Graduate Institute
University of Southern Denmark
September 13, 2011
In 2003, Chesbrough coined the term “open innovation” as a new paradigm for industrial innovation. In this paper, we review and synthesize the growing literature that follows Chesbrough by studying the commercialization of external innovations — one of the key open innovation practices.
This paper provides a comprehensive overview and process model of open innovation. We classify prior studies in open innovation according to a four-phase process model for inbound open innovation that includes obtaining, integrating and commercializing external innovation, as well as work on nonreciprocal innovation flows. Finally we identify three opportunities for future research, including greater focus on business models, examination of the later and reciprocal phases of the commercialization process, and research into the limits and moderators of open innovation.
Number of Pages in PDF File: 47
Keywords: open innovation
JEL Classification: O31, O32, L22working papers series
Date posted: October 26, 2011 ; Last revised: April 30, 2013
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