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Open Innovation ResultsGoing Beyond the Hype and Getting Down to Business$
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Henry Chesbrough

Print publication date: 2019

Print ISBN-13: 9780198841906

Published to Oxford Scholarship Online: December 2019

DOI: 10.1093/oso/9780198841906.001.0001

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Open Innovation in the Twenty-First Century

Open Innovation in the Twenty-First Century

Chapter:
(p.28) 2 Open Innovation in the Twenty-First Century
Source:
Open Innovation Results
Author(s):

Henry Chesbrough

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198841906.003.0003

This chapter reviews the core ideas behind Open Innovation, discusses what it is and is not, and shows how it can deliver more value to organizations and to society. Outside-in Open Innovation strengthens the current business and current business model, while inside-out Open Innovation searches for alternative businesses and business models. The chapter explores the connection between technology development and the business model, and examines the use of Open Innovation in intellectual property and in services. However, Open Innovation is not a panacea. Its boundary conditions and limitations must also be acknowledged. As with Chapter 1, the processes of generation in innovation must also be supported by equal attention to innovation dissemination and innovation absorption within the firm, in order for organizations to create and capture value from Open Innovation. Finally, Open Innovation is moving beyond collaborations between two actors, to a broader ecosystem focus that connects many actors together.

Keywords:   Open Innovation, outside-in, inside-out, business model, innovation generation, innovation dissemination, innovation absorption, innovation ecosystems

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