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A Structural Model for the Design and Implementation of Open Innovation
Abstract
With the recent developments of open innovation as a formal management discipline, many organizations today are struggling to form effective internal competencies that can be leveraged to generate measured success. Many companies are using a trial-and-error approach that too often leads to unnecessary cost overruns and even failure. The model presented in this chapter provides readers with a simple, yet elegant structure necessary for the design and implementation of a successful open innovation program. The chapter explores the leading causes of failure in a new open innovation program, and offers guidelines and criteria that open innovation leaders and practitioners can use to avoid these pitfalls, and to establish a program that generates tangible returns, while motivating participants to achieve more desirable innovative behaviors.
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