Customer Open Innovation-Based Business Model Developing Circle

Author(s):  
JinHyo Joseph Yun
2013 ◽  
pp. 281-293 ◽  
Author(s):  
Hakikur Rahman ◽  
Isabel Ramos

Open innovation in entrepreneurships already finds its acceptance at all levels of the business industry for adding value to the business. The value could be in the form of economic gain or enhancement of knowledge leading to a sustained financial base. Open innovation adopts various strategies to accomplish the task for enhancing the value gain. Varying by size, nature, pattern, or characteristics of the firm various strategies are being adopted by enterprises. Though largely known to be familiar in corporate business houses, in recent years open innovation is also becoming increasingly familiar in small and medium enterprises (SMEs) and the trend is rapidly increasing. However, despite the potency of open innovation strategies, most of the enterprises are yet to find a sustained business model, especially for the SMEs working at the periphery of that value chain. This forms the basis of the current study. This chapter is trying to formulate a business model incorporating partnership approach from academia, research houses, intermediaries, and other stakeholders.


Author(s):  
Hakikur Rahman

While talking about successful entrepreneurship and value addition within an enterprise through innovation, one could comprehend that the innovation paradigm has been shifted from simple introduction of new thoughts and products to accumulation of diversified actions, actors, and agents along the process. Furthermore, when the innovation process is not being constrained within the closed nature of it, the process takes many forms during its evolution. Innovations have been seen as closed innovation or open innovation, depending on its nature of action, but contemporary world may have seen many forms of innovation, such as technological innovation, products/service innovation, process/production innovation, operational/management/organizational innovation, business model innovation, or disruptive innovation, though often they are robustly interrelated.


Author(s):  
Danielle Logue

This chapter considers the historical changes that have occurred in the way corporations engage in innovation, conceptualizations of disruptive innovation, and the consequences of recent developments in technology, models and movements for the corporate form (particularly boundaries), practices, and leadership. It discusses how the notion of disruption innovation has developed, and summarizes the main innovation dichotomies that have emerged from years of academic research on how corporations innovate. It then focuses on the implications of open innovation and business model innovation for the corporation, and details current responses of corporations to disruptive innovation. The chapter concludes with a consideration of how disruptive innovations are impacting the role and significance of the corporation in modern society.


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