The Advance of Open Innovation

By • on May 3, 2017

The SAP website posted an interview with Henry Chesbrough in which he outlined why firms need to experiment with new business models within and across company boundaries. He noted that companies get much more sustainable value if they  focus on innovating the business models of their external collaborators. He believes large companies should develop and adopt lean startup methodologies to do rapid prototyping with potential customers at very early stages of development before a lot of investment has gone in to searching for a viable business model.

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