A Proposed Logic Model for Managing Open Innovation Competitions
Abstract
For a long time, research and development (R and D) was an internal investment used as a barrier against competitors. The idea was that a big internal investment differentiates organizations in the market. The R and D activity was organized inside the company, and shared with no one until the product or service that resulted from innovation went to the market. (Sloane 2012). A range of factors has induced businesses to engage increasingly in innovation collaborations. The collaborative approach to innovation termed "open innovation" (OI) may be contrasted with the traditional "closed" approach where R and D remains within the boundaries of a firm (Brant and Lohse 2014). Orcik, et al. (2013) suggest that innovation is the process of making changes, large and small, radical and incremental, to products, processes, and services that results in the introduction of something new for the organization, adds value to customers, and contributes to the knowledge store of the organization. To overcome limitations such as cost, resources, competencies, etc., companies may choose to outsource their innovation work by inviting external contributors to develop ideas or solutions to specific predefined problems. An OI approach offers an opportunity for companies to access valuable knowledge from multiple sources.
Document Details
- Document Type
- Technical Report
- Publication Date
- Dec 01, 2017
- Accession Number
- AD1107955
Entities
People
- Marcie Zaharee
- Teresa Nanez
- Timothy Champney
Organizations
- MITRE Corporation