Success factors for open innovation in Norwegian manufacturing

Abstract

The ability to innovate and introduce new products faster is critical to maintain a competitive position internationally in an increasingly dynamic marketplace. Shorter product life cycles and increased competition makes open innovation strategies a viable way of reducing research and development costs for companies. Open innovation includes inter-company and intra-company process and activities like cooperation in extensive networks, knowledge management, managerial activities, team formation and individual motivation. Therefore, this study is based on empirical research thorough using questionnaire-based survey and semi-structured interviews, examines various aspects that influence successful open innovation projects. Data was collected from a sample within the Norwegian metal forming industry, making advanced structural components for different industrial sectors, such as automotive, building and construction, offshore and marine. The study will report on open innovation types practices among these companies, as well as how they manage their intra-company activities for successful innovation management. Both small and medium-sized enterprise’s as well as large multinational corporations are part of the study.