Opening Innovation to Others Key to Success
In her Contra Costa Times article, Financial Columnist Tapan Munroe discusses how open innovation is a strategy for U.S. businesses to be more competitive as our economy shifts increasingly to services and our manufacturing moves to lower-cost countries.
Professor Henry Chesbrough is quoted in the article and explains: “To escape the commodity trap posed by frugal innovators in other parts of the world, American businesses must learn to wrap services around their products, and invite others to contribute additional products and services. Combining internally and externally supplied products and services together can create platforms that can withstand the competitive pressures of the global marketplace.”
Click here to read the article.