Open and Closed Innovation

Name: Open and Closed Innovation
Brand: Springer Nature
SKU: 9783834980908
Availability: InStock

Open and Closed Innovation

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Springer Nature

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9783834980908

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Firms acting in an environment of rapid technological change are often dependent on externally developing knowledge sources in order to generate radical innovations. This pressing need of integrating external R&D sources has forced many firms to shift from a Closed Innovation model to an Open Innovation model. In the chemical industry as the industry of focus in the present work the innovative force slowed down in the last 20 years. As a consequence, many chemical firms strive for implementing new forms of innovation management and follow an innovation strategy that involves the external environment to a greater extent. They implement the Open Innovation concept by setting up separated organizational units (e.g. Degussas Creavis Technologies & Innovation or BASFs Joint Innovation Lab), which focus on innovation projects that cannot be operated by their internal R&D departments alone. However, many firms are facing difficulties during the implementation. While the implementation effort often focuses on external ideas and technologies and the processes to identify them, cultural challenges are neglected.

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