Open innovation
Open Innovation
Concept developed by Henry Chesbrough (2003) for whom Open innovation can be understood as the antithesis of the traditional vertical integration model according to which companies can rely entirely on their own research. "Open innovation is the use of purposive inflows and outflows of knowledge to accelerate internal innovation, and expand the markets for external use of innovation, respectively". Example: Open-source community such as Cambia and BiOS (Biological Innovation for Open Society).
References
Chesbrough H., Vanhaverbeke W., West J. (2006), "Open innovation, researching a new paradigm", Oxford University Press, NY, USA.
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Added: 17/03/2008 3:51pm
shreyans
Do you think every thing in present world come under open inovation???? secondly Open source software communities are the main example of User lead innovation...