Social Media: A Tool for Open Innovation

Despite the exponential rise of social media use in external stakeholder engagement, academic research and managerial practice have paid little attention to how it can be used for open innovation across the entire innovation funnel, spanning ideation, R&D, and commercialization. As a result, there is little understanding of how companies can organize for and implement social media for open innovation. Utilizing a multiple case study design, this article examines its application across the entire innovation process. It proposes a range of organizational and technological adaptations that managers can implement to ensure they realize the innovative benefits of social media application.