Let's have a look at Open Innovation and Closed Innovation.

What are the key differences between the two models?

Both are based on strategic and collaborative principles of innovation.

Of course, any effort in innovation needs a strategic direction, such as digitisation or customer centricity of the company. Additionally, both methods of innovation rely on collaborative work to drive innovation forward. For that, companies takes into account just their own employees (Closed Innovation) or tap their network (Open Innovation).

Open Innovation transcends the boundaries of companies. Knowledge can be brought from the outside in, spun from the inside out or have coupled modes, where knowledge travels in both directions.

Open Innovation also builds upon the idea that knowledge and expertise is distributed across the industry. So it's the Innovation Managers job to connect the dots and bring together the knowledge to drive innovation effectively.

#openinnovation #closedinnovation #innovationmanagement

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Find additional information by following the links below:
A complete guide to Open Innovation:
[ Ссылка ]
Blog - [ Ссылка ]
Case study - [ Ссылка ]
[ Ссылка ]

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Credits: Icons in the thumbnail:
Smashicons on Freepik: [ Ссылка ]

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