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Title: | Understanding the advantages of open innovation practices in corporate venturing in terms of real options | Authors: | VANHAVERBEKE, Wim Van de Vrande, V. |
Issue Date: | 2008 | Publisher: | IEEE | Source: | IEEM: 2008 INTERNATIONAL CONFERENCE ON INDUSTRIAL ENGINEERING AND ENGINEERING MANAGEMENT: vol. 1-3. p. 954-958. | Abstract: | Part of the advantages of using an 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. Innovation firms have to learn new skills and routines to develop the full 'real option'-potential of open innovation practices. | Notes: | [Vanhaverbeke, W. Wim] Hasselt Univ, Dept Business Studies, Hasselt, Belgium. | Keywords: | Real options; open innovation; managing uncertainty; subsequent investments in innovations | Document URI: | http://hdl.handle.net/1942/9911 | Link to publication/dataset: | http:/dx.doi.org/10.1109/IEEM.2008.4738011 | ISBN: | 978-1-4244-2629-4 | ISI #: | 000269126600191 | Category: | C1 | Type: | Proceedings Paper | Validations: | ecoom 2010 |
Appears in Collections: | Research publications |
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