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Open Innovation: definition, what types and benefits

mjvinnovation

We could summarize open innovation as the use of inflows and outflows of knowledge to accelerate internal innovation and expand markets. In his book, Open Innovation: The New Imperative for Creating and Profiting from Technology (Harvard Business School Press – 2003), researcher Henry Chesbrough coined the term Open Innovation.

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11 Paradoxes of Entrepreneurial Thinking: why entrepreneurship can hardly be taught

Open Innovation EU

Whereas Schumpeter describes an entrepreneur as disequilibrative – destroying the pre-existing stage of the equilibrium ((Kirzner, 1999) – Kirzner chooses to describe the role of the entrepreneur as more equilibrative – entrepreneurs systematically displace disruptive conditions in order to create stabilized market conditions (Kirzner, 1999).