Glocal targeted open innovation: challenges, opportunities and implications for theory, policy and practice

Abstract

In line with the growing number and type of innovation sources and partners, companies’ institutional set up to manage the potential problems of multiple sources and partners for innovation is increasingly challenged to develop and maintain effective and efficient corporate innovation activities. The paper highlights recent developments of open innovation in companies. Findings are based on company case studies involving companies from different industries and company representatives. It shows that open innovation is actually a paradigm long practised but the main efforts are targeted to continuously developing the organization and managerial model of companies to meet the new innovation challenges.