The impact of open innovation on product development: innovation versus creative ecosystems

Abstract

Developed business ecosystems exhibit open innovation as the most relevant booster of organizational development. Also, from a combined approach to innovation perspective, using collaboration among different stakeholders in order to achieve competitive advantages, open innovation serves as an important technique for new business model creation. Thus, it is especially important to enhance the impact of open innovation on organisational processes as the main driver for organizational higher performance and development. Based on literature review this paper aims at exploring the main transition from product development processes to co-creation products through implementation of open innovation, in highlighting key differentiating aspects by different types of ecosystems. Consequently, a comprehensive framework for co-creation processes in innovation and creative ecosystems, in terms of product development stages, is provided based on specific adopted criteria, emphasising the open innovation impact within innovation versus creative ecosystems.