Open innovation and new product development: major themes and research trajectories

Abstract

Purpose This paper aims to review the extant literature on open innovation and new product development (NPD) using bibliometric analysis to gauge the evolving journey of this concept in the domain of Business and Management. Design/methodology/approach The researcher used the Scopus database to search the relevant documents for bibliometric analysis. The data range was from 2006 till June 2023. Citation analysis, co-citation analysis and co-occurrence of authors' keywords were used for bibliometric analysis. Findings The paper charts the intellectual structure of literature related to open innovation and NPD. The five major themes emerge as prominent themes in the literature, i.e. Open Innovation: Conceptualization, Dynamic Capabilities and Competitive Advantages; Open Innovation: Contingencies and Possibilities; Co-creation and New Product Development (NPD); Open Innovation for Businesses: A Shifting Paradigm; and Implementing of Open Innovation in Industries: Cases. Besides this, the study also reveals the most influential authors, journals and countries in their contribution to open innovation and new product development. Future research directions are also presented. Practical implications The present study contributes on academic and managerial fronts. The study provides important insights contributing to the open innovation and NPD literature. From the organizational point of view, the study provides a detailed understanding of the concept of open innovation and NPD that can aid managers in acquiring a comprehensive knowledge of the concept before using it as a strategic intervention. Originality/value The present study identifies the gradual progression of this research area over time. It delineates key themes emerging from past literature, providing avenues for future research.