Leveraging External Sources of Innovation
The Journal of Product Information Management published online a review of research on open innovation by Joel West and Marcel Bogers. The paper considers how and why firms commercialize external sources of innovations. It examines both the “outside-in” and “coupled” modes of open innovation. From an analysis of prior research on how firms leverage external sources of innovation, it suggests a four-phase model in which a linear process—(1) obtaining, (2) integrating, and (3) commercializing external innovations—is combined with (4) interaction between the firm and its collaborators.
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