The era of openness: Open innovation is now a recognized management tool

Abstract

Purpose

Reviews the latest management developments across the globe and pinpoints 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

Open innovation, the process of looking for new sources of technology and innovation among the global research and innovation community, is now recognized as a key management tool. Having a systematic and repeatable process to find and connect with the global research and development community is the critical foundation of any open innovation initiative, and one approach being successfully applied by company's such as BT is a formal Technology Scouting Program.

Practical implications

Provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

Originality/value

The briefing saves busy executives 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

(2007), "The era of openness: Open innovation is now a recognized management tool", Strategic Direction, Vol. 23 No. 1, pp. 35-37. https://doi.org/10.1108/02580540710716590