Abstract
Modern transnational companies are increasingly resorting to the open innovation model. The role of innovation is growing all over the world. The development and implementation of innovations in the current activities of companies characterize the effective competitive development of an organization in the market. This model has a number of advantages: faster development of innovations, the ability to save on R&D via outsourcing innovations, access to the most modern innovations of other companies, etc. The purpose of this study is to identify the factors that determine the transition of an increasing number of companies in the world to the open innovation model. In this paper, using the analysis of academic literature, various views on this process have been considered. The work identifies the factors of the development of the open innovation model in the modern world. As a result of the study, the authors have identified the factors that determine the transition of companies to the open innovation model from the traditional closed innovation model.
Highlights
IntroductionThe development and implementation of innovations in the current activities of companies characterize the effective competitive development of an organization in the market
Today, the role of innovation is growing all over the world
The purpose of this study is to identify the factors that determine the transition of an increasing number of companies in the world to the open innovation model
Summary
The development and implementation of innovations in the current activities of companies characterize the effective competitive development of an organization in the market. Practice shows that the usual method of R&D management, which predominantly involves the use of the organization’s own developments, in the modern world in many cases becomes ineffective: for example, the company’s own developments are not always able to be implemented and be successful in the market due to the organization’s limited resources, lack of knowledge in certain areas and underdevelopment in R&D (Chesbrough, Bogers, 2014; Chesbrough, 2020; Salampasis, Mention, 2019). To improve the efficiency of innovation activities of organizations, the use of new ways and methods of innovation management is of decisive importance (Rajput, Singh, 2019; Koh et al, 2020). It was Chesbrough who gave impetus to the development of a new model of innovation management in companies – the open innovation model
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