“Open Innovation” Picking Up Steam
The Thinkinc website noted that in 2003, Henry Chesbrough presented a case study of 1970s and 1980s corporate innovation firms, centered on the giants of R&D from that era such as, Bell Labs, IBM and Xerox PARC. Chesbrough noted that R&D departments have traditionally been ‘closed’ to outsiders in order to protect intellectual property, but doing so restricted innovation to the internal team and internal resources of the company. The Internet revolution ushered in a new framework for innovation, open innovation. Open Innovation routes around the inherent limits of closed innovation because companies can access knowledge outside of internal employees to tap into wider groups. In the past 10 years, many of the world’s best companies have taken on the new approach to innovation, including the following in their R&D and product design work.
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