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Question
Paragraphs should consist of a minimum of three or more sentences. Complete sentences, grammar, punctuation, and logical flow are important. Do not restate the assignment in your essay. Your replies should be scholarly or business professional. Always double-check, review the assignment to ensure all requirements have been met.
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Chapter 4 discusses Closed Innovation and Open Innovation.
1. Closed innovation, as the text points out, is innovation generated by utilizing "the people, knowledge, and technology" within the company. Why would a company prefer closed innovation? Provide company examples of closed innovation.
2. Open innovation is innovation generated as the result of utilizing outside the company expertise. A problem may reside in an area of expertise and the solution may reside in another. Why would a company prefer open innovation? Provide company examples of open innovation.
This quiz may require you to engage in independent research (other than the course text) to learn about closed and open innovation. Be sure to cite/reference sources
IMPORTANT: Your answer should be at least 2-3 succinct, clear, logical paragraphs.
Explanation / Answer
Ans-1 closed innovation was the gold standard for protecting proprietary information and beating out the competition. It is based on a model of internal and centralized research and development. A closed innovation is based on the view that innovation are developed by companies themselves. Opening to the outside is therefore impossible. Innovation are only developed within clearly defined company boundaries. The function of this approach can be compared to that of a perpetuum mobile: companies invest large sums in internal research and development in order to establish it as a know how centre. These R&D department provide significant technological inventions that lead to innovative products and solutions.as a result, the innovation process is characterized by a closed system, with fixed company boundaries and internal R&D activities.
In order to successfully implement a closed innovation in the company, certain factors must be taken into account. Closed innovation places very high demands on employees. For example, so the company should always strive to hire highly qualified employees. It is also important to protect one's own intellectual property.
And 2- open Innovation includes innovation potential where they contribute to the improvement of one's own entrepreneurial knowledge. Open Innovation is not only a substitute for closed innovation, but should be seen as complementary. Open innovation means opening up the innovation process beyond company boundaries in order to increase one's own innovation potential through active strategic use of the environment. Innovation arises through the interaction of internal and external ideas, technologies, processes and sales channels with the aim of the company to develop promising innovative products, services or business model.
The exchange of knowledge and the networking of know how typical op open innovation do not mean free access to a company knowledge and technology. For example:- a successful open innovation is the IBM innovation, which cooperates on a network basis with other companies and universities from various countries such as Switzerland. The internet music exchange last.fm invites it's users to so called hacker days to develop new application.
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