Tech SME strategies to attract open innovation growth partners: Limiting risk by creating trusted relationships with large companies

Abstract

Purpose

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

The study provides insights on how SMEs develop open innovation relationships with both industry and research customers by building trust through various mechanisms. Motivated by the potential benefits of open innovation in strengthening the firms’ technological edge, the SME managers proactively and strategically developed and managed their open innovation relationships. The results proved that large customers contributed greatly to the SMEs’ innovation processes both directly and indirectly.

Originality/value

The briefing saves busy executives, strategists, and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Citation

(2018), "Tech SME strategies to attract open innovation growth partners: Limiting risk by creating trusted relationships with large companies", Strategic Direction, Vol. 34 No. 4, pp. 16-18. https://doi.org/10.1108/SD-01-2018-0012