What question did this study set out to answer?

The aim is to explore how organizations can sustain innovation during difficult economic periods through open innovation strategies.

How open innovation can help you cope in lean times

View Full Paper

Ask AI

Bookmark

Authors

This article identifies strategic moves to enhance innovation during economic downturns, suggesting holistic leadership involvement.

The aim is to explore how organizations can sustain innovation during difficult economic periods through open innovation strategies.
Identified five strategic moves for facilitating open innovation.
Recommended both inside-out moves and the spinning off of projects.
Emphasized the importance of leadership and a holistic approach.
Organizations can enable outside firms to invest in their projects.
Spinning off projects allows for equity retention while fostering innovation.
Leadership engagement is crucial to overcome organizational challenges.

Chesbrough et al. (2012) studied this question.

View Full Paper

Ask AI

Bookmark