Open innovation: Strategic options, actors, tools and tensions

Abstract

Open innovation describes innovation processes that span across the boundaries of organizations or research and development (R&D) departments. It integrates different types of innovators regardless of their institutional affiliations to generate creative ideas, innovation concepts and novel solutions. The purpose of this chapter is to describe underlying mechanisms and strategic options for realizing open innovation. It presents three types of innovators and their functions in innovation endeavors and introduces five tools that facilitate open innovation. Finally, challenges and core tensions are discussed as a basis for the successful management of strategic open innovation initiatives.