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Title: | Understanding the advantages of open innovation practices in corporate venturing in terms op real options | Authors: | VANHAVERBEKE, Wim Van de Vrande, Vareska Chesbrough, Henry |
Issue Date: | 2008 | Publisher: | BLACKWELL PUBLISHING | Source: | Creativity and Innovation Management, 17(4). p. 251-258 | Abstract: | Part of the advantages of using open innovation (compared to closed innovation) in corporate venturing can be explained by applying the real options approach. Open innovation in risk-laden activities such as corporate venturing has the following advantages: (i) benefits from early involvement in new technologies or business opportunities; (ii) delayed financial commitment; (iii) early exits reducing the downward losses; and (iv) delayed exit in case it spins off a venture. We furthermore argue that these benefits do not automatically materialize. Innovative firms have to learn new skills and routines to develop the full 'real option' potential of open innovation practices. | Document URI: | http://hdl.handle.net/1942/8480 | ISSN: | 0963-1690 | e-ISSN: | 1467-8691 | DOI: | 10.1111/j.1467-8691.2008.00499.x | Category: | A1 | Type: | Journal Contribution | Validations: | vabb 2010 |
Appears in Collections: | Research publications |
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File | Description | Size | Format | |
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Understanding the Advantages.pdf | Peer-reviewed author version | 71.67 kB | Adobe PDF | View/Open |
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