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Weighing the Pros and Cons of Engaging in Open Innovation

  • The positive aspects of open innovation projects are widely discussed in innovation management research and practice by means of case studies and best practices. However, enterprises, particularly small and medium-sized enterprises (SMEs) also face miscellaneous challenges in open innovation practice, leading to uncertainty and even renunciation of open innovation project participation. Thus, it is essential for SMEs to find the right balance between possible positive effects and negative consequences - the latter being the less studied "dark sides" of open innovation. However, appropriate methods of finding this balance are still lacking. In this article, we discuss the assessment of open innovation project participation by presenting a weighing and decision process framework as a conceivable solution approach. The framework includes an internal, external, and integrated analysis as well as a recommendation and decision phase. Piece by piece, we investigate the current situation and the innovation goals of the enterprise as anThe positive aspects of open innovation projects are widely discussed in innovation management research and practice by means of case studies and best practices. However, enterprises, particularly small and medium-sized enterprises (SMEs) also face miscellaneous challenges in open innovation practice, leading to uncertainty and even renunciation of open innovation project participation. Thus, it is essential for SMEs to find the right balance between possible positive effects and negative consequences - the latter being the less studied "dark sides" of open innovation. However, appropriate methods of finding this balance are still lacking. In this article, we discuss the assessment of open innovation project participation by presenting a weighing and decision process framework as a conceivable solution approach. The framework includes an internal, external, and integrated analysis as well as a recommendation and decision phase. Piece by piece, we investigate the current situation and the innovation goals of the enterprise as an initial point for a decision for or against engaging in open innovation. Furthermore, we discuss the development of a software tool that automatically applies this framework and allows self-assessment by SMEs.show moreshow less

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Metadaten
Author:Andre Ullrich, Gergana Vladova
ISSN:1927-0321
Parent Title (English):Technology Innovation Management Review
Publisher:Carleton University Graphic Services
Place of publication:Ottawa
Document Type:Article
Language:English
Year of first Publication:2016
Year of Completion:2016
Release Date:2020/03/22
Tag:SMEs; benefits; entrepreneurship; open innovation; open innovation participation; risks; self-assessment tool
Volume:8
Pagenumber:7
First Page:34
Last Page:40
Organizational units:Wirtschafts- und Sozialwissenschaftliche Fakultät / Wirtschaftswissenschaften
Peer Review:Referiert