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Authors
Advisor(s)
Abstract(s)
Innovation is recognized by academics and professionals as essential to enhance the
competitiveness of organizations and foster their growth. Traditionally, innovation is seen as
going mostly just within the company. However, the increasing availability and mobility of
knowledge labour, the development of Internet and venture capital markets, as well as the
easier to widen the scope to possible external knowledge providers, have weakened the
effectiveness of traditional innovation systems (Chesbrough, 2003). Thus, open innovation
concept is presented with the essential premise of opening organizational boundaries. The
underlying idea is based on the assumption that in a world where knowledge is distributed,
companies should not rely solely on its own research and development, but open up their
boarders to external knowledge. Therefore, the aim of this study is analyse innovation
strategies and practices developed by medium and large companies in order to understand how
they enhance innovation within the company or other partners or companies they work for,
and what are their perspective on crowdsourcing phenomenon as a practice to potentiate the
introduction of innovation in companies. An empirical study was conducted following the
Grounded Theory method to collect and analyse empirical data. The results show that
companies are starting using some external knowledge in their innovation process though they
still have some bias in introducing strategies that uses the global network. At the end of the
paper the results are discussed and some future research directions presented.
Description
Keywords
Open innovation Crowdsourcing innovation Innovation process
Citation
Publisher
International Business Information Management Association (IBIMA)