Abstract
Open innovation involves external parties of the organization in innovation activities within the organization, resulting in the flow of knowledge and information internally and externally (inbound and outbound). Given the advantages of having external support in the internal innovation process, organizations are starting to adopt the open innovation model to help them achieve and sustain innovation. The parties involved in open innovation are suppliers, consumers, competitors, and society. Such involvement will increase the organization’s ability to achieve better performance. This study aims to provide a more updated, comprehensive, and clearer picture of the importance of organizational readiness to innovate, especially through open innovation. This study also seeks to present a more comprehensive identification of the impact of open innovation on company performance by using a systematic literature study. The systematic literature review conducted in this study can serve as a basis for future research that discusses policy strategies to improve organizational performance through the implementation of open innovation. Based on a systematic literature review, 33 main articles were obtained in accordance with the research objectives including different types of open innovation manifestations and specific open innovation practices implemented by organizations.
Highlights
Open innovation (OI) is seen as a paradigm shift that appears in many innovative organizations where the process of creating innovation occurs from internal and from accessing and integrating external knowledge [1], [2]
The articles that match with the aforementioned criteria that described at study selection step are mostly published in 2015 and 2021
This research contributes to providing a more updated, comprehensive, and clearer illustration on the importance of an organizational readiness to innovate, especially through open innovation. The involvement with both internal and external stakeholders is an essential component of open innovation, which is why organizations need to thoroughly understand each aspect or variable that could determine a successful open innovation
Summary
Open innovation (OI) is seen as a paradigm shift that appears in many innovative organizations where the process of creating innovation occurs from internal and from accessing and integrating external knowledge [1], [2]. The development of the current innovation process has changed from close innovation to open innovation [5], [6], which is an innovation originating from internal and external parties regardless of the company scale [9]. The concept of open innovation is based on inter-organizational studies in which the whole stakeholers are involved [10], [11]. There is an element of collaboration, collective creativity, and an attainment of new knowledge and its management within an organization [12].
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