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Follow on Google News | What Is Open Innovation Network And How To Use ItWhat is open innovation network and how to use it
By: Amy Watson Open innovation is a process about the way a company’s research and development should be conducted. The basic principles of open innovation are: • The organization should collaborate with sensitive researchers. • Internal R&D group of a company should contribute something to the ultimate result of the research developed by outside R&D group. • Making profit should not be the only goal of the research. • The final product should be used in the best way. So according to these principles open innovation works best when the research follows the demand of product of a company not supply. But many innovations still focus on the supply. These innovations focused at building the supply using knowledge or innovation in a vacuum without the clear knowledge of the demand of the product and its markets. Thus in order to use open innovation successfully a company should create an open innovation network(http://www.philoptima.org/ If a company uses it successfully then it can internally make profit and externally became an open innovation leader within the given industry. End
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