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Innovation management and strategy > L8 > Flashcards

L8 Flashcards

1
Q

What are the advantages of open innovation?

A 
Access to complementary assets/knowledge
Transfer tacit knowledge
Sharing/spreading of costs and risks
Speed up development
Broader variety in options, diversity
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2
Q

Complexity of open innovation

A

Unintended knowledge spillovers (share knowledge and suddenly partner is using that knowledge against you)
Learning races between partners
Lack of flexibility and adaptability
Strategic/cultural differences between partners

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3
Q

Address complexity of open innovation

A

Combining formal contracts and relational governance mechanism (trust)

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Innovation management and strategy (10 decks)

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