Open Innovation and Collaboration Enhance Local Ventures
The Upstate Business Journal noted that groups with common objectives band together to win. Whether called “Open Innovation,” “Trade in Tasks” or “Made in the World,” more and more joint ventures, M&As and special alliances are forming to increase efficiencies, access new technologies or drive global market share. Firms may network to solve a particular problem, for instance a supply chain problem, but once established, these networks provide a tried-and-true platform of trust that can be leveraged for tackling larger innovation challenges.
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