QUESTION 4 CBMD032 "As companies struggled to adapt to the fallout of the Covid-19 crisis, many turned to open innovation. Authors argue that open innovation It's a kind of collaboration that's worth pursuing whether or not you're in a crisis. Making it work, however, requires that companies momentarily put aside traditional concerns over IP to focus on other approaches to creating value; leverage their partners' motivations effectively to maintain a productive working relationship; embrace new partners; and commit to the projects they pursue through open innovation to reap their benefits. This approach can be extremely fruitful, and not just in the middle of a crisis". 4.1 Briefly explain the concept of open innovation and discuss the key characteristics of open innovation. (12)