Open Innovation: Bridging Theory and Practice – serie

Recent developments of Internet-based digital technologies have revealed a huge potential of developing open, collaborative and network-centred innovation. However, firms face major challenges in using new technologies for rapid prototyping, data-mining, simulation, visualization, etc. to support their Open Innovation strategies.Responding to the need for further conceptual and empirical research on technology-enhanced open innovation, this book provides fresh and topical insights on how firms from different sectors have successfully implemented digital technologies for Open Innovation. Based on rich empirical data, this book discusses the benefits and drawbacks, the processes, the characteristics and the management practices of ICT-driven Open Innovation in private as well as public organizations.

For the last fifteen years, open innovation has been one of the hottest topics in innovation management research. Digitalisation of the open innovation process has also emerged as a concept of high organisational value. The potential benefits of this concept and how firms organise, or should organise, in order to realize these benefits have been addressed in numerous empirical studies published in scientific journals as well as books. Responding to the need for further conceptual and empirical research on open innovation in services, this book reveals if and how service providers in different service sub-sectors have implemented the concept of open innovation. Based on rich empirical data, the book discusses the benefits and drawbacks, the processes, the characteristics and the management practices of open innovation in private as well as public service organizations.Through a series of empirical case studies focusing on the open innovation practices of different public and private service organizations, this book contributes to deepening our understanding of how the concept of open innovation has been implemented in services, and what challenges, achievements and benefits that are associated with the implementation of open innovation concepts in this sector. These insights it provides can assist managers of both private and public service providers to confidently implement open innovation in an efficient manner in their organizations.

Technology-driven innovation in financial services has been attracting global attention and interest. FinTech innovation is presenting a paradigm shift in financial services affecting a wide range of products, processes and services but also sparking a broader evolutionary transformation, growth opportunities and foundational systemic and structural changes in light of technological interdependencies among market players, infrastructures and ecosystem stakeholders.Transformation Dynamics in FinTech contributes to the intellectual curiosity around the symbiotic relationship of finance and technology by focusing on the multidimensional and multidisciplinary role of open innovation within FinTech innovation, observing and communicating the latest technological, managerial, governance, policy and regulatory perspectives, trends and developments.This book is an essential reading for anyone interested in the growing and evolving development of FinTech ecosystems based on new capabilities and structures that create new dominant architectural designs, which determine competitive dynamics, products, services, processes, business models, markets, value chains, within an open and transformed financial services industry landscape.

What is the profile to excel and lead in an open innovation environment, within and across organizational boundaries? What are the organizational ingredients and ways contributing to the creation of the right corporate open innovation environment and culture, within and across organizational boundaries? What is the role of organizational culture as a catalyst for adopting open innovation practices? What kinds of educational and training curricula for open innovation need to be developed and put in place? By unveiling the peculiarities of the dynamic interplay between the individual and organizational spectrums, this volume, seeks to provide relevant answers to these questions, among others. Readers are invited to embark on a fascinating and challenging journey towards one of the darkest of sides and mysteries of open innovation: the human element.Open Innovation: Unveiling the Power of the Human Element brings together the latest thinking from members of the academic community, industry leaders and practitioners, along with, policy-makers. By adopting a variety of research methods, this volume provides relevant up-to-speed but at the same time down-to-earth invaluable insights, foresights and solutions in relation to the role and the positioning of the human element within the participatory and connection-driven DNA of the open innovation paradigm.

The book studies the interplay between open innovation and knowledge management issues in small and medium-sized enterprises (SMEs). With the proliferation of the open innovation paradigm and against the backdrop of increasing external knowledge transfer activities, knowledge management is more important than ever for innovation and firm performance of any type of organization. In fact, knowledge management is no longer a pure intra-organizational activity but constitutes a vital interface function between the organization and its external partners/stakeholders.Throughout the book, readers will obtain both a broad overview of the two main concepts namely open innovation and knowledge management and its interplay. In addition, research will be presented which will help the readers to develop and/or expand their understanding of the phenomenon. This broad approach can also support in broadening the mindset regarding the topic under investigation and its application. Thereby, this book will primarily focus on SMEs and their approach with respect to the interplay in question.In order to achieve the above-mentioned aim, the book consists of ten chapters that are assigned to three parts. Part 1 introduces to the main concepts, namely, SMEs, Open Innovation, Knowledge Management, and the interplay between open innovation and knowledge management in SMEs. This is followed by Part 2, which provides empirical research insights into the phenomenon of interest. The book concludes with Part 3 which addresses promising future avenues regarding the study of open innovation and knowledge management in SMEs. All the chapters are written by leading international researchers in the respective fields, which makes the book a unique piece of work.

Digital innovation — involving the Internet, its content and ecosystems of global users — is a rapidly evolving way of creating strategic and societal value. The phenomenon of Open data is on the rise and transforming the fundamental nature of how many industries, companies and governments connect with each other and the end-users of products and services — from increased customer-centric innovations, to winning political campaigns, and managing public health concerns. Open data holds the promise of greater transparency, greater accountability and empowerment of stakeholders. Yet curating and publicly sharing data can be difficult, requires substantive investments in knowledge infrastructures and incentives to do so are not well understood. Who is driving and enabling the open data movement? What motivates organizations to release data and how are they using it to create value? What are the current challenges and how are they being mitigated? What are the decision-frames adopted for sharing data? What are the possible applications and lessons to be learnt from current practices? What is the role of organisational ingredients and culture as a catalyst for adopting and facilitating open data practices? What is the possible impact of semantic web application? By exploring the multiple dimensions of open data and the interplay of economic utility, governance, societal values of fairness and trust, this volume seeks to entice readers by providing evidence-based answers to these questions, among others. Readers are tempted to a progressively revealing and enlightening journey from the conceptualisation to cultural proliferation of the latest trends in knowledge management: open data.Digital Innovation: Harnessing the Value of Open Data draws on practical experiences, bringing together widely distributed and latest knowledge of open data practices as case studies from researchers, academics, industry leaders, policy advisors and practitioners. In exploring the economics and technology paradigms, data governance and management practices of digital-centric private and public organizations, this volume sheds light on why there exists a need to embrace open data, what is needed to optimize the value of open data in driving digital innovation and how it is being currently conceived. The book draws a thought-provoking conclusion on open data as a purpose-driven phenomenon, with its disparate applications in a world of where global convergence on information sharing, storing and management are increasingly becoming a norm.Related Link(s)

Open Innovation: A Multifaceted Perspective unveils research on open innovation from multidisciplinary perspectives and with practical insights from leaders and policy-makers. The first section addresses the links between open innovation and various disciplines, methods, concepts and policy instruments. The second section reviews selectively the literature, focusing essentially on open service innovation and innovation in financial services industries. It also explores different forms and types of practices reflecting the adoption and implementation of open innovation. The third section focuses on the management of open innovation, paying specific attention to the individual, intra- and inter-organizational levels.