Hands-Off Open Innovation Approach Doesn’t Work
The Harvard Business Review website noted that for many business leaders — 85%, according to a recent Accenture survey — open innovation is critical to their strategic plans. In particular, large companies want to partner with small firms that have developed advanced, game-changing technologies. Small companies see the benefits of such partnerships as well, in the form of access to resources well beyond their reach. But many partnerships begin without due attention to what might go wrong, and the results show it. The challenges of big firm–small firm collaboration are considerable: different cultures, different attitudes about sharing intellectual property, different concerns about risk sharing, and others. So it’s no simple task to meet the strategic objectives of such partnerships.
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