Open Innovation: Systematisation of Knowledge Exploration and Exploitation for Commercialisation

Abstract

This paper explores the intricacies of various determinants that can be used to systematise open innovation processes as the functional streaming of knowledge, both inbound and outbound, to expedite internal innovation and extricate the market for external use of innovation. Drawing on extant open innovation literature and data collected from organisations on the list of Thomas Reuters Derwent World Patents Index covering North America, Europe, Asia, Sub-Saharan Africa, the Middle East and North African for their open innovation practices, a model was developed that conceptualises the systematisation of open innovation processes toward commercial activities. The results show that the systematisation of open innovation requires a balancing act of knowledge exploration (KET) and exploitation (KEL) ambidexterity for commercialisation of the firm, and that a relationship exists between these variables. Using the contingency-based approach to organisational development, the paper adds to the understanding of the role of open innovation processes, systematisation, content and context as well as the research and development aspect of open innovation.

Religious Cultural Reputation Effects on Sustainable Tourism Destinations

“…This result is supported by other research, which states that innovation requires the role of knowledge exploration [12] and exploitation [13]. Knowledge emerging in the organization can be an obstacle to the process of innovation if it comes from interactions affected by the influence of people from outside the said organization [14]. This result is reinforced by the results of research stating that new knowledge alone will not be enough to enhance innovation but must be integrated with existing knowledge in the organization [15].…”

The past, present and future of open innovation

“…Huston and Sakkab, 2006), as firms' ICT investment is related to their absorptive capacity. ICT allows firms to improve their absorptive capacity to acquire external knowledge (Dong and Yang, 2015;Amponsah and Adams, 2017;Homfeldt et al, 2017), through improvements to communication and integration, the establishment of relationships, and the facilitation of knowledge transfer EJIM to lower information deficiencies (Malhotra et al, 2005;Li et al, 2006;Saraf et al, 2007;Rai et al, 2012;Hochleitner et al, 2017). However, while it has been stressed that ICT assets are fundamental for innovation performance, how ICT influences external search is unclear (Dong and Netten, 2017).…”

Opening Science and Innovation: Opportunities for Emerging Economies

“…In some cases, the need of a basis for technology transfer and knowledge management is pointed out in order to create a solid industrial network [Lehtimaki et al, 2009;Valencia-Vazquez et al, 2014;Jamett et al, 2017;Pitassi, 2012]. Such a solid network allows crossing firm boundaries and implies that both internal and external knowledge can find their way to commercialization for existing or new markets [Amponsah, Adams, 2017;Akinwale, 2018], and find potential new clients [Merino et al, 2015]. Collaboration with academic partners might also lead to a better development of public policies for ideas generation, activity control and patent registry [Bianchi et al, 2015;García-Peñalvo et al, 2010].…”