Enriching open innovation theory and practice by strengthening the relationship with strategic thinking

Abstract

In this chapter, we first argue that open innovation can be applied to situations where companies do not themselves develop new products or services. As a consequence, open innovation becomes relevant for a much larger group of organisations than hitherto. Second, we argue that open innovation scholars have failed to sufficiently differentiate open innovation initiatives in terms of their impact on companies’ growth: Some open innovation initiatives lead to incremental innovations in existing businesses while others are used to establish completely new businesses. Both arguments illustrate the need to integrate open innovation initiatives into the strategy of the firm.