Smaller businesses are still facing a spectrum of specific challenges when accepting and implementing open innovation model: organizational and cultural barriers, limited resources in terms of available funds, time and skills, misinterpretation of the market/customer requirements are some of the main barriers why SMEs are not encouraged to easily accept this approach.
Furthermore, the opportunities for upgrading the businesses by application of open inovation usually remain unexploited due to the additional circumstances including insufficient knowledge of the existing innovation supporting policies and initiatives, difficulties in accessing the existing funding schemes supporting the innovation management, lack of awareness/know-how, as well as lack of possibilities in accessing/joining the open inovation partner networks. For these reasons, it is still the common case that SMEs are relying on their internal-oriented practices and acting only in limed ranges (frequently only in the own business sectors), where the potentials for innovation related information flows and collaboration opportunities are usually limited in all terms.
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...
Not all the smart people work for your company. Henry Chesbrough explains how corporations can all benefit from open innovation. This is true both from the outside in -- leveraging external ideas and technology to reduce costs and time spent in...
The idea of bringing customers into the process of defining the products and service of your organization is one that is gaining a lot of steam. One manifestation of that is the increased interest in Social CRM. In this scenario, companies engage...
