Open innovation means more than searching online for others who are attempting to solve the same problems
Question:
Open innovation means more than searching online for others who are attempting to solve the same problems you are and trying to take inspiration from other corporations and other entrepreneurs. It also involves forming partnerships, supporting new ventures, investing in business accelerators, and acquiring firms that innovate in ways that are valuable to your firm or to your entrepreneurial effort (assuming you can raise the capital to acquire a firm while you develop your invention). Think of an example of a firm (other than Samsung, the example from Merit Morikawa’s article, and Apple, the “easy” answer) that has engaged in all of these practices. What seems to drive these different modes of open innovation? When are they most appropriate? When are they not appropriate ethically?
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