An Open Innovation Project Typology of Exploration and Exploitation

The Springer website posted a study which first appeared in the Journal of the Knowledge Economy which noted that before engaging in how firms can embrace different forms of OI activities simultaneously, there is a need to reassess how OI research approaches the idea of exploiting current capabilities and simultaneously exploring fundamentally new competencies. The conceptual study results in a project typology of four generic OI approaches: inbound-exploration project; inbound-exploitation project; outbound-exploration project; and outbound-exploitation project. When these approaches are integrated, the coupled processes appear. Practical implications are derived with an overview of how managers can cope with different forms of OI strategically.

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