Open Innovation Management in Terms of Dynamic Markets

An article in the journal POLIT noted that introducing the open innovation management concept can qualitatively rebuild the internal systems of the company, improve the efficiency of business activities and help achieve long-term goals. The system of closed innovations represented the rejection of all new ideas, assuming that they are dubious and unreliable Using the open innovation model, no one thinks about the fact that someone may be the first to enter the market with this idea, because it is much more important to create a better business model. Companies should not get locked into an internal environment, because by this way they become non-competitive in the market. Open innovation management will support formation of sustainable competitive advantage through the targeted use of knowledge and competencies to create the desired value.

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