Search results for "Open innovation"
showing 10 items of 59 documents
The virtuous cycle of trust. Unveiling clues to successful innovation in the Fast Moving Consumer Goods industry
2022
PurposeThis paper aims to shed light on features of successful innovation and on the role played by downstream open innovation (OI) dynamics in the Fast Moving Consumer Goods (FMCG) industry. It also explores the reasons for the decline in the number of disruptive innovations in this industry in the European Union (EU).Design/methodology/approachThe authors interpret the data in a Kantar consumer panel dataset on disruptive innovations in Spain through an exploratory research including in-depth interviews with 19 managers in the industry.FindingsResults show that downstream open innovation in this industry is mostly limited to the executional stage in the process and highlight the crucial r…
Optimal Dynamics of Functionality Development in Open Innovation
2009
Abstract Sustainable functionality development has become crucial option for firm's survival in a new paradigm confronting a post-information society. This can be realized by earlier emergence of functionality development. In this context, effective utilization of external innovation resources leads to follower substitution for leader in open innovation. This substitution induces advancements of innovative goods by substituting gratification of their consumption for resistance to them. Thus, optimization of utmost gratification of consumption under certain investment would be crucial for firm strategy. Optimal functionality development dynamics is analyzed in this paper by integrating produ…
How do I rule my solver’s relationship? An empirical investigation of governance structures in crowdsourcing contests
2016
In order to continually innovate, companies are increasingly opening their boundaries and signing crowdsourcing agreements with solution providers. However, crowdsourcing scholars are no closer to understanding how possible solvers’ opportunistic behaviours affect the governance structure proposed by the seeker at the moment the challenge is broadcast. Building on the managerial-choice approach of transaction cost economics, we aim to examine how contract conditions, specified in the request for proposal (RFP), aiming to reduce the effect of solver’s opportunistic behaviours whilst influencing seekers’ preferences toward proposing contractual agreements to manage the working relationship wi…
An Open Innovation Decision Support System to Select a Biopharmaceutical R&D Portfolio
2016
Drugs available in the market today, selected several years ago under very uncertain future scenario, have experienced a long and expensive process of research and development carried out following both a closed and an open innovation path. To support this critical selection process, we propose a Decision Support System, able to choose among different candidates the most promising drugs along their best development path. The Decision Support System, based on a real options portfolio optimization model, mapping tools, and what-if rules as well, has been applied to a numerical example available in literature, and the research findings show interesting managerial and academic implications
An Open Innovation Decision Support System to Select a Biopharmaceutical R&D Portfolio
2015
Drugs available in the market today, selected several years ago under very uncertain future scenario, have experienced a long and expensive process of research and development carried out following both a closed and an open innovation path. To support this critical selection process, we propose a Decision Support System, able to choose among different candidates the most promising drugs along their best development path. The Decision Support System, based on a real options portfolio optimization model, mapping tools, and what-if rules as well, has been applied to a numerical example available in literature, and the research findings show interesting managerial and academic implications. Cop…
Open innovation: A real option to restore value to the biopharmaceutical R&D
2014
Abstract The pharmaceutical landscape has changed, and new business models, based on alliances, are increasingly being adopted in this industry. Biotechnology advances have pushed this development, and pooling complementary resources coming from incumbents and newcomers is a key skill to succeed: these are the premises for a quick spread of the open innovation (OI) paradigm in this industry. RD to achieve this goal the authors propose a closed-form model that is easy to implement, to evaluate the OI initiative for selecting an optimal RD i.e. licensing-in or not) and the self-financing policy. The proposed model can be easily implemented into a spreadsheet, and the inputs needed to run it a…
Diving into the uncertainties of open innovation: A systematic review of risks to uncover pertinent typologies and unexplored horizons
2023
The open innovation paradigm has created substantial new opportunities for firms in various sectors. However, scholars have long expressed concern that open innovation also entails a dark side, which can result in value co-destruction. This concern highlights the importance of devoting attention to the perils of pursuing open innovation. Existing scholarship has given due credence to these perils by examining various associated risks and uncertainties. We observe that the extant literature is siloed and unorganized, which impedes future research. Positing that an endeavor to organize existing studies may enhance the pace of research in the area, we attempt to address this gap by reviewing t…
Network embeddedness and new product development in the biopharmaceutical industry: The moderating role of open innovation flow
2015
This paper explores the role of centrality and structural holes positions on the likelihood to develop new products and the moderating role of the open innovation flow, a measure of the net knowledge flow crossing the firm’s boundaries, on the aforementioned relation. We argue that network positions provide the information content to the firm, whilst open innovation flow describes how the firm uses such content, thus the combination of these two concepts has a significant impact on new product development. We test the theoretical framework on a large sample of 544 public companies and data from 1758 agreements among 1890 bio-pharmaceutical firms through the period 2006–2010. Our results sho…
The effect of early or late R&D inbound alliance on innovation
2016
In the research-and-development (R&D) supply chain, firms can agree an inbound alliance at different times along the R&D process; this decision affects the supplier's effort and the innovation that firms achieve at the end of the agreement. Because the supplier's effort is not entirely observable, firms cannot enforce effort contractually. Early contracts demand greater effort and offer risk-sharing opportunities; in late contracts suppliers have a stronger ex-ante bargaining-power position because of the shorter (and less risky) contract length and the experience suppliers already have. This study argues that later inbound alliances allow a higher innovation value when both partner…
Open innovation and firms performance: state of the art and empirical evidences from the bio-pharmaceutical industry
2016
The research presented in this paper explores the effect of inbound, outbound and coupled open innovation practices on firms' performances in the biopharmaceutical industry. Specifically, although existing researches on open innovation effectiveness have separately investigated the effect of open innovation practices on innovation and financial performance, this study evaluates the concurrent effect of these practices on both such performance dimensions in a single framework. We state the importance for a manager to explore concurrently the influence of specific open innovation practices both on innovation and economic-financial performance. We empirically test our framework on a sample of …