Accessing Discoveries to Launch Revolutionary Products
The Exchanges website notes that every day we hear about companies breaking through to the next level of the business world with new products and services. But how do companies access the technologies and discoveries to bring the world revolutionary products? Companies have embraced open innovation because they realize that to be fully innovative (and thrive in the long term) they need to be open – open to acquiring the inventions and breakthroughs occurring beyond their research capacity. This transfer and acquisition is so important to a company’s durable success because in one form or another companies are selling solutions to customers, and these solutions are in constant need of technological advancement to increase their value in solving customer problems.
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