How Innovation Is Shaping The 21st Century Company

By • on December 5, 2017

The Forbes Magazine website posted an article which noted that the broad logic behind open innovation is that it is increasingly difficult for a firm to continuously innovate and grow in isolation. It has to engage with different types of partners to acquire ideas and resources from the external environment to stay ahead of the competition. As global competition intensifies, knowledge workers become more mobile and innovation becomes riskier and more costly, more businesses have turned to open innovation as a way of increasing the speed and effectiveness of their innovation approaches.

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