scholarly journals Opening Up the Strategy-Making Process: Comparing Open Strategy to Open Innovation

2015 ◽  
Author(s):  
Leonhard Dobusch ◽  
David Seidl ◽  
Felix Werle
Keyword(s):  
Open Innovation ◽  
Opening Up ◽  
Open Strategy ◽  
Strategy Making

Opening up the Strategy-making Process: Comparing Open Strategy and Open Innovation

2014 ◽  
Vol 2014 (1) ◽  
pp. 12504 ◽  
Author(s):  
Leonhard Dobusch ◽  
David Seidl ◽  
Felix Werle
Keyword(s):  
Open Innovation ◽  
Opening Up ◽  
Open Strategy ◽  
Strategy Making

scholarly journals Prediction Markets for Crowdsourcing

2018 ◽  
Author(s):  
Christian Horn ◽  
Marcel Bogers ◽  
Alexander Brem*
Keyword(s):  
Stock Market ◽  
Open Innovation ◽  
Innovation Process ◽  
Business Practice ◽  
Prediction Markets ◽  
Knowledge Sources ◽  
Prediction Market ◽  
Online Platform ◽  
External Knowledge ◽  
Opening Up

Crowdsourcing is an increasingly important phenomenon that is fundamentally changing how companies create and capture value. There are still important questions with respect to how crowdsourcing works and can be applied in practice, especially in business practice. In this chapter, we focus on prediction markets as a mechanism and tool to tap into a crowd in the early stages of an innovation process. The act of opening up to external knowledge sources is also in line with the growing interest in open innovation. One example of a prediction market, a virtual stock market, is applied to open innovation through an online platform. We show that use of mechanisms of internal crowdsourcing with prediction markets can outperform use of external crowds.

scholarly journals Practising open innovation: a framework of reference

2017 ◽  
Vol 23 (6) ◽  
pp. 1311-1336 ◽  
Author(s):  
Cinzia Battistella ◽  
Alberto Felice De Toni ◽  
Elena Pessot
Keyword(s):  
Decision Making ◽  
Open Innovation ◽  
Design Methodology ◽  
Empirical Investigation ◽  
Innovation Process ◽  
Point Of View ◽  
Content Type ◽  
Exploratory Survey ◽  
Decision Making Processes ◽  
Opening Up

Purpose This work provides new insights into possible managerial choices and development directions for practising open innovation (OI) in companies. The purpose of this paper is to explore the different practices, actors and tools adopted for opening up the innovation process, in particular, by small- and medium-sized enterprises (SMEs) that are still facing difficulties in its implementation. Design/methodology/approach The paper is based on a literature review and an exploratory survey of a sample of 85 European SMEs. Findings The study identifies a total of 23 practices, 20 actors and 11 tools involved in the OI processes of companies. It highlights, through literature and empirical evidence, how different combinations of practices, actors and tools are put into practice. Research limitations/implications The developed framework offers new insights both from OI literature and from practitioners’ point of view into the supporting decision-making processes regarding which practices to implement, tools to adopt and actors to collaborate with. A wider investigation is recommended to include more variables to define the differences among the combinations of practices, actors and tools in terms of types of innovation (e.g. product, process, etc.), the openness degree and other contextual factors. Originality/value The originality of this paper is based on the fact that it focusses on a practical perspective of OI implementation, building a framework of reference from previous literature and empirical investigation.

scholarly journals Crowdsourcing strategy: how openness changes strategy work

2016 ◽  
Vol 14 (3) ◽  
pp. 450-460 ◽  
Author(s):  
Kurt Matzler ◽  
Johann Füller ◽  
Katja Hutter ◽  
Julia Hautz ◽  
Daniel Stieger
Keyword(s):  
Corporate Culture ◽  
Collective Intelligence ◽  
Management Practice ◽  
Jel Classification ◽  
Social Software ◽  
Strategy Development ◽  
Research And Practice ◽  
Opening Up ◽  
Open Strategy

Strategy development has traditionally been exclusive and secretive. Social software offers new opportunities to harness the collective intelligence of the crowd within organizations and allows more open, participatory modes of strategizing. This paper describes this new phenomenon of open strategy though crowdsourcing and discusses its implications for research and practice. It draws on first examples of crowdsourcing strategy and is further based on observations and theoretical reflections. To understand the phenomenon with its requirements and consequences, a number of questions and challenges are identified which remain to be investigated. These include how the process of opening up needs to be designed, how individuals can be motivated to engage, for which topics and under which conditions crowdsourcing strategy is a suitable approach, how strategies emerge in such initiatives, the appropriate role of management, and how corporate culture affects and is affected by crowdsourcing strategy. Open strategy through crowdsourcing is a newly emerging empirical phenomenon, which seems to fundamentally change the strategist’s work. More open and inclusive ways of strategizing not only offer new opportunities, but also create some challenges for organizations. This paper deepens the insights in this new phenomenon and identifies seven topics critical for research and management practice. Keywords: strategy, crowdsourcing, collective intelligence. JEL Classification: M19

A Business Perspective on IP: Open Innovation vs. Open Source in Commercializing Biotechnology

2013 ◽  
Vol 19 (2) ◽  
Author(s):  
Arthur A. Boni
Keyword(s):  
Life Cycle ◽  
Open Innovation ◽  
Component Software ◽  
Software Products ◽  
Business Perspective ◽  
Long Life ◽  
Capital Intensive ◽  
Opening Up ◽  
Wide Dissemination ◽  
Commercial Introduction

Abstract – In this article, we address the issues that are involved when developing a strategy for commercializing a discovery that is novel, useful, and non-obvious to someone skilled in the art.  Patent(s) may be used as one means of providing a competitive advantage, and in addition this method is quite common as a means to monetize the intellectual asset.  Alternatively, a more “open-source” method may be employed as is more typical in dealing with software products or services – thereby opening up the field to collaboration and widespread use.  However, other means must then be developed to monetize the asset whether it involves a “hardware” component, software, or both. We argue that to answer these questions, one needs to be very strategic in framing the business model that would be most successful in commercializing the particular discovery keeping in mind that wide dissemination of the innovation is the objective. We focus on issues prevalent for innovation in biopharma, medtech, and medical IT, where high risk, long life cycle, capital-intensive investments are required for commercial introduction.

scholarly journals Closing for the Benefit of Openness? The case of Wikimedia’s open strategy process

2017 ◽  
Vol 40 (3) ◽  
pp. 343-370 ◽  
Author(s):  
Laura Dobusch ◽  
Leonhard Dobusch ◽  
Gordon Müller-Seitz
Keyword(s):  
Digital Technologies ◽  
Two Dimensional ◽  
Strategy Process ◽  
Open Strategy ◽  
Strategy Making

A growing number of organizations subscribe to ideals of openness in areas such as innovation or strategy-making, supported by digital technologies and fuelled by promises of better outcomes and increased legitimacy. However, by applying a relational lens of inclusion and exclusion, we argue that, paradoxically, certain forms of closure may be necessary to achieve desired open qualities in strategy-making. Analysing the case of Wikimedia, which called for participation in a globally open strategy-making process, we show that openness regarding participation in crafting strategy content depends on certain forms of closure regarding procedures of the strategy-making process. Against this background, we propose a two-dimensional framework of openness, in which content-related and procedural openness are characterized by a combination of open and closed elements.

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