Keeping Secrets Holds Back Innovation
The website Insead asked the question, why are some firms more able to transform knowledge sourced externally into innovative outputs? It goes on to say open innovation is not just a matter of getting the right contacts. To get the most out of their open innovation strategy firms must start by creating the right conditions within their organization. As well as having sufficient resources–both financial and human capital–to implement fresh ideas, companies looking to maximize commercial benefits from collaborative associations, need to enter the partnership with the right mindset, exuding a willingness to share as well as absorb knowledge.
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