Open Innovation: Promises and Pitfalls

A comprehensive look at open innovation’s benefits and how it can go awry, including the necessity of internal skills and the false economy of cutting R&D costs

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Dr. Henry Chesbrough
May 2020
Tags:  innovation • open innovation • R&D • organization • collaboration

Not long ago, innovation was a largely internal affair. The journey from the laboratory to the marketplace took place largely within the four walls of the firm. Think of Bell Labs, IBM Research, or Xerox PARC. Each of them created important technological breakthroughs. And each breakthrough was commercialized through the company’s own businesses.

In recent years, though, this “do it all yourself” approach is increasingly hard to sustain. It costs a lot of money to support each of the many processes needed to achieve success in th

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  • Free access to 5 expert articles
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* The extent and duration of the free offer may change without notice.

Subscribe

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