The F.A.I.R. Model of Cooperation: How Managers Can Co-create Value Within Innovation Networks

Abstract

In today’s rapidly changing society firms can no longer rely on their elaborated portfolios that succeeded in the past but have to seek for innovation as a new way of creating value. To enhance innovation, many firms join networks but only few managers act accordingly to the new culture of cooperation that innovation networks require. With that in mind, we will show why networks can promote innovations and how managers need to change their mindsets when they join an innovation network. Finally, we will highlight three phases that members undergo on their way to create new value within innovation networks and present guidelines for each step of cooperation.