Using O.I. to Gain First Mover Advantage
The Innovation Excellence website notes that it’s best to see open innovation as a philosophy or a mindset that you can embrace within your organisation, if you start here then you can’t go far wrong but a more formal way to view it is as a method to bring external and internal innovation together. Today we see many examples where companies that are building bridges between their internal and external networks have been dramatically successful, such as Unilever, Starbucks, Philips, MIT Media Lab and Xerox PARC. Open Innovation is in stark contrast to the old model of closed innovation where companies retained secretive, maniacal control of their R&D Intellectual Property.
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