What does open innovation mean?
Definitions for open innovation
open in·no·va·tion
This dictionary definitions page includes all the possible meanings, example usage and translations of the word open innovation.
Wikidata
Open innovation
Open innovation is a term promoted by Henry Chesbrough, adjunct professor and faculty director of the Center for Open Innovation at the Haas School of Business at the University of California, in a book of the same name, though the idea and discussion about some consequences date as far back as the 1960s. The term refers to the use of both inflows and outflows of knowledge to improve internal innovation and expand the markets for external exploitation of innovation. The concept is also related to user innovation, cumulative innovation, know-how trading, mass innovation and distributed innovation. “Open innovation is a paradigm that assumes that firms can and should use external ideas as well as internal ideas, and internal and external paths to market, as the firms look to advance their technology”. Alternatively, it is "innovating with partners by sharing risk and sharing reward." The boundaries between a firm and its environment have become more permeable; innovations can easily transfer inward and outward.
Numerology
Chaldean Numerology
The numerical value of open innovation in Chaldean Numerology is: 4
Pythagorean Numerology
The numerical value of open innovation in Pythagorean Numerology is: 3
Translations for open innovation
From our Multilingual Translation Dictionary
- Innovation ouverteFrench
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"open innovation." Definitions.net. STANDS4 LLC, 2024. Web. 27 Apr. 2024. <https://www.definitions.net/definition/open+innovation>.
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