Five Elements of an Open Innovation Program

By • on January 13, 2012

The website reports that when Henry Chesbrough coined the term open innovation (2003), organizations (especially R&D driven organizations) embraced it as the solution to business model limitations. Companies representing consumer products (e.g., P&G, Clorox), natural resources (e.g., GoldCorp, healthcare (e.g., GSK, Pfitzer), government (e.g., HHS) have to varying degrees, some impressively, applied Open Innovation to improve the return on investment of their product development process.

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