Open season for innovators: Shared ideas provide opportunities across the board

Abstract

Purpose

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

Open innovation might well be a term that has only been with us since the beginning of the twenty‐first century, but the issues it raises have been with us as long as the market economy has existed. One of Henry W. Chesbrough's key observations, at the heart of his seminal 2003 work on the subject, was that “not all the smart people work for us”; external knowledge should be brought on board in order to maximize potential competitive advantage.

Practical implications

The paper provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.

Citation

(2013), "Open season for innovators: Shared ideas provide opportunities across the board", Strategic Direction, Vol. 29 No. 7, pp. 6-9. https://doi.org/10.1108/SD-04-2013-0003