scholarly journals How Open Innovation Practices Deliver Societal Benefits

2021 ◽  
Vol 13 (3) ◽  
pp. 1431
Author(s):  
Elisabeth Eppinger
Keyword(s):  
Diffusion Of Innovation ◽  
Environmental Sustainability ◽  
Open Innovation ◽  
Cost Allocation ◽  
Social Innovation ◽  
Responsible Innovation ◽  
Path Creation ◽  
Societal Benefits ◽  
Innovation Practices ◽  
Innovation Attributes

Open innovation practices have the potential to benefit society greatly. Bridging the research on open innovation, diffusion of innovation and responsible innovation, this study investigates how open innovation practices can foster societal benefits. Elaborating on potential benefit gaps and detrimental effects of innovation, the study proposes six distinct innovation attributes to deliver societal benefits: (I) adequate information and communication channels, (II) affordability, (III) appropriateness and availability, (IV) anticipation in terms of appropriate and reflexive risk assessment, (V) accountability in terms of adequate cost allocation of detrimental side effects, and (VI) sustainable path creation for transitions towards societal and environmental sustainability. Ten different open innovation practices are assessed drawing on our own and other published empirical insights. This assessment provides insights into which features of the practices support social benefits. Based on this assessment, we propose a typology of three different practices in relation to societal benefits and discuss how they address the six innovation attributes. Providing rich insights into which practices deliver societal benefits through which features, this study makes a significant contribution to existing research on open innovation, responsible innovation, inclusive and social innovation. Some practical implications and directions for further research are provided.

Open Innovation Best Practices

2019 ◽  
pp. 133-151
Author(s):  
Henry Chesbrough
Keyword(s):  
Best Practices ◽  
Environmental Sustainability ◽  
Open Innovation ◽  
Strong Growth ◽  
Innovation Practices ◽  
Over Time

Open Innovation can be a powerful engine for growth, if properly managed. P&G was an early, powerful trendsetter in achieving growth from Open Innovation. Open Innovation also can be valuable as a tool to enable environmental sustainability, as seen by Enel and Carlsberg However, even organizations who embody effective Open Innovation practices can have trouble sustaining growth over time. Practices that initially led to strong growth have been followed by periods of declining revenue, or even bankruptcy. Both Qwirky and P&G have struggled to sustain growth via Open Innovation. Open Innovation requires a certain mindset to sustain growth over time. Following the best practices alone may not keep the company ahead of its competitors. Following Open Innovation principles may prove more enduring.

scholarly journals Exploring the Role of Islamic Fintech in Combating the Aftershocks of COVID-19: The Pen Social Innovation of the Islamic Financial System

2021 ◽  
Vol 7 (2) ◽  
pp. 136
Author(s):  
Mustafa Raza Rabbani ◽  
Abu Bashar ◽  
Nishad Nawaz ◽  
Sitara Karim ◽  
Mahmood Asad Mohd. Ali ◽  
...  
Keyword(s):  
Financial Services ◽  
Open Innovation ◽  
Financial Stability ◽  
Social Innovation ◽  
Global Financial Crisis ◽  
Financial System ◽  
Real Economy ◽  
Business Context ◽  
The World

The purpose of the current study is to investigate the role of the Islamic financial system in recovery post-COVID-19 and the way Fintech can be utilized to combat the economic reverberations created by COVID-19. The global financial crisis of 2008 has established the credentials of the Islamic financial system as a sustainable financial system which can save the long run interests of the average citizens around the world while adding value to the real economy. The basic ethical tenets available in the Islamic financial system make it more suited and readymade to fight the economic aftershocks of a pandemic like COVID-19. The basic principles of ethical Islamic finance have solid connections to financial stability and corporate social responsibility within the wide-reaching business context. With the emergence of Financial technology (Fintech) it has provided a missing impetus to the Islamic financial system to compete on equal ground with its conventional counterpart and prove its mettle. The study uses discourse analysis along with the content analysis to extract content and draw a conclusion. The findings of the study indicate that COVID-19 pandemic has provided the opportunity for the social and open innovation to grow and finance world have turned to open innovation to provide a speedy, timely, reliable, and sustainable solution to the world. The findings of the study provide significant implications for governments and policy makers in efficient application of Fintech and innovative Islamic financial services to fight the economic consequences of the COVID-19 pandemic.

Responsible innovation and social innovation: toward an integrative research framework

2019 ◽  
Vol 46 (6) ◽  
pp. 742-755 ◽  
Author(s):  
Karsten Bolz ◽  
Anne de Bruin
Keyword(s):  
Social Innovation ◽  
Field Research ◽  
Responsible Innovation ◽  
Systematic Research ◽  
Content Type ◽  
Policy Practice ◽  
Integrative Framework ◽  
Integrative Research ◽  
Conceptual Paper ◽  
Innovation Study

PurposeResponsible innovation (RI) and social innovation (SI) are two fields of innovation study experiencing burgeoning policy, practice and research interest. Despite this rapid rise in popularity, the scholarly literature in these two related areas of innovation study remains quite separate, stymieing the growth of shared research insights. The purpose of this paper is to propose a pragmatic, process-based framework that lends itself to advancing systematic research in both fields while retaining their distinct identities.Design/methodology/approachThis conceptual paper outlines an analogy-inspired framework that builds on the logical thinking put forward by Philosopher Willard Van Orman Quine in 1962. It focusses on key processes that cross-cut both fields.FindingsReflexivity, collaboration and design are identified as three broad core processes that span both the RI and SI fields and form the basis of an integrative framework that highlights the scope for cross-field research pollination.Originality/valueThe literature that draws these two fields together is virtually non-existent. The paper uses analogy to facilitate awareness of the parallels between these two areas of innovation study. The integrative framework put forward in the paper is of value for advancing cumulative research in innovation fields of critical importance to the society.

MAPPING THE PERCEPTION AND REALITY OF OPEN INNOVATION

2013 ◽  
Vol 17 (06) ◽  
pp. 1340016 ◽  
Author(s):  
JUSTYNA DĄBROWSKA ◽  
IRINA FIEGENBAUM ◽  
ANTERO KUTVONEN
Keyword(s):  
Open Innovation ◽  
Innovation Management ◽  
Innovation Process ◽  
Innovation Research ◽  
Innovation Activities ◽  
Current State ◽  
Business Practitioners ◽  
The Right ◽  
Innovation Practices ◽  
Innovation Processes

Open innovation holds great potential for improving the efficiency of companies' innovation processes, but also presents substantial risks. A key issue in innovation management is finding the right balance of openness, i.e., determining how open companies should be in their innovation activities. However, academics and business practitioners hold conflicting notions of what constitutes open innovation practice and of how "open innovation companies" are defined. In this paper, we present three in-depth case studies of global R&D-intensive companies, where we find that the firms' perception of their openness differs from their actual situation (as determined by the innovation practices that they apply), and that each company has a different view as to what constitutes open innovation. We claim that resolving conceptual ambiguity and differentiating between openness (as a philosophical aspect) and open innovation (as a way of structuring the innovation process) in research is critical in order to clarify the current state of open innovation research and enable the communication of results to practitioners.

scholarly journals Research and Practices on Open Innovation

2011 ◽  
pp. 1-23 ◽  
Author(s):  
Hakikur Rahman ◽  
Isabel Ramos
Keyword(s):  
Longitudinal Study ◽  
Open Innovation ◽  
Small And Medium Enterprises ◽  
Enterprise Management ◽  
Future Research ◽  
Economic Prosperity ◽  
Research Practices ◽  
Sustained Growth ◽  
Medium Enterprises ◽  
Innovation Practices

Innovation has become a recognized driver of economic prosperity of a country through sustained growth of its entrepreneurships. Moreover, recently coined term open innovation is increasingly taking a lead in enterprise management in terms of sustained profitability. Foci of researchers and practitioners are revolving around innovation methods, processes, and strategies. This chapter seeks to find out open innovation researches and practices that are being carried out circumscribing development of small and medium enterprises (SMEs) through a longitudinal study. Along this context the study is investigating into researches that are being carried out by leading researchers and research houses across the globe, and at the same time, it also investigates open innovation practices that are being carried out for the development of SMEs. Before its conclusion, the chapter attempts to develop a framework for future research practices.

scholarly journals Rvolta, a Case for Open Innovation

2013 ◽  
pp. 1562-1579
Author(s):  
Margarida Cardoso ◽  
Isabel Ramos
Keyword(s):  
Qualitative Research ◽  
Information Systems ◽  
Waste Management ◽  
Knowledge Creation ◽  
Open Innovation ◽  
Small And Medium Enterprise ◽  
Medium Enterprise ◽  
Innovation Practices ◽  
Focus Point

Rvolta has been working in waste management industry for 16 years now. This SME (Small and Medium Enterprise) from Portugal is taken as a focus point for the case study addressing a network of partners working in various activities which became related, so as to disclose the underlying innovative spirit, strategy, and partnership structure. Objectives of the present chapter are to portray and analyze a SME success case in open innovation (through various innovation practices), and clarify how knowledge creation and collaboration amongst different players in a network takes place. An exemplary collaboration episode is told. Framing issues are addressed so as to understand how they affect open innovation in SMEs. The study finds interactions, networking, and partnership connections, are important issues and indeed make a difference, thus enabling SMEs to innovate. This case evolved from an exploratory phase of an Information Systems PhD qualitative research, addressing open and crowdsourcing innovation.

Measuring the impact of relational capital on customer performance in the SME B2B sector

2017 ◽  
Vol 23 (6) ◽  
pp. 1144-1166 ◽  
Author(s):  
Lara Agostini ◽  
Anna Nosella ◽  
Benedetta Soranzo
Keyword(s):  
Absorptive Capacity ◽  
Open Innovation ◽  
Moderating Effect ◽  
High Tech ◽  
Relational Capital ◽  
Marketing Capability ◽  
Content Type ◽  
Innovation Practices ◽  
External Actors ◽  
The Impact

Purpose The purpose of this paper is to investigate the influence that different components of relational capital (marketing capability, open innovation with business and scientific partners, technological reputation, brand) have on customer performance (CP). Moreover, the moderating effect of absorptive capacity on such relationships is tested. Design/methodology/approach First, the direct relationship between the different components of relational capital and CP is analyzed through a linear regression model. Then, to test the moderating effect, two distinct regression analyses are conducted into two sub-samples, defined according to the level of absorptive capacity. The authors carried out these analyses on a sample of 150 small- and medium-sized enterprises (SMEs) in the medium- and high-tech B2B context. Findings Results of this study prove that CP is enhanced through firm marketing capability, open innovation with business partners and technological reputation, while brand and open innovation with scientific partner do not have an association with CP. In particular, the impact of marketing capability and open innovation with business actors on CP is greater for firms with higher absorptive capacity. Research limitations/implications This paper, highlighting the relevance of relational capital and absorptive capacity in improving CP, enhances our knowledge about the factors that help to strengthen the relationships with customers, which is an under-investigated issue especially for SMEs competing in B2B industries, and extends our knowledge on open innovation practices. Practical implications Findings of this paper suggest that, to achieve better CP, managers should pay special attention to nurturing their marketing capability and high-quality relationships with external actors and invest in absorptive capacity to enhance the positive effect of such linkages. Originality/value This work, combining the external perspective of relational capital and the internal organizational dimension of absorptive capacity, provides valuable insights about the knowledge and resource mix that firms might rely on to achieve better customer satisfaction and loyalty.

scholarly journals WHAT DOES OPEN INNOVATION MEAN? BUSINESS VERSUS ACADEMIC PERCEPTIONS

2019 ◽  
Vol 23 (01) ◽  
pp. 1950002 ◽  
Author(s):  
ROMAN TEPLOV ◽  
EKATERINA ALBATS ◽  
DARIA PODMETINA
Keyword(s):  
Open Innovation ◽  
Conceptual Development ◽  
Theoretical Concept ◽  
Business Community ◽  
Innovation Implementation ◽  
Academic Perceptions ◽  
Innovation Practices

Since the first appearance of ‘open innovation’ as a theoretical concept in 2003, the debates on its essence still continue among academics, while its interpretations within the business community also seem to differ from one company to another. Using a survey of 251 companies operating in Europe, in this research, we compare the perceptions of open innovation that exist within both the academic and business worlds, to assist in the conceptual development of the phenomenon. Our research reveals a mismatch in these perceptions, as only a few activities counted as ‘open’ by innovation scholars appear to affect companies’ self-reported state of open innovation implementation. Moreover, our research has shown differences in the interpretation of open innovation among companies of different sizes. Only free revealing, acknowledged by scholars as one of the open innovation practices, has been recognised as such a practice by all the studied firms. This paper contributes to conceptualisation of ‘open innovation’ and shares practical insights on bridging academia and business perceptions of it.

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