Collaboration Over Competition: How Companies Benefit from Open Innovation

By • on February 18, 2020

The DevOps website noted that breaking down barriers and overcoming the predisposition toward secrets is the only way to cultivate a collaborative environment. Ultimately, this effort begins in the boardroom. Once a large company has executive buy-in, the idea will begin to trickle from the top down, and over time it will take hold. Following are some important guidelines to tackle obstacles and sustain synergy: Create ecosystems around intellectual property; Assess your partners; Adjust your business models as necessary and Foster a collaborative culture. People, and business models, are naturally resistant to the significant change that comes with the open innovation approach. Whether a company can overcome these obstacles is a matter of determination and a desire to adopt company-wide changes.

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