Abstract
Abstract To tap external knowledge, firms use various open innovation (OI) mechanisms, such as crowdsourcing and partnerships, which have very different cost-benefit profiles. Firms use OI to serve the needs of specific innovation projects with diverse attributes, even in the same firm. This chapter first argues that the OI mechanism needs to be aligned with the project attributes for the successful completion of OI projects. It then develops a two-phased decision framework to provide insights into this alignment. The first phase seeks to align two main OI mechanisms––crowdsourcing and partnerships––with the project’s complexity level. In the second phase, crowdsourcing types (“fishing” vs. “hunting”) are aligned with knowledge pervasiveness and partnership types (non-equity vs. equity) with knowledge hiddenness.
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