Chilean SMEs as a Testing Ground For Open Innovation in South American Economies

Roa, Javiera (2014) Chilean SMEs as a Testing Ground For Open Innovation in South American Economies. [Dissertation (University of Nottingham only)] (Unpublished)

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Abstract

Knowledge and ideas do not necessarily originate from professional institutions; it is possible to find creativity outside university classrooms, companies, and research centres. Further, it is widely accepted by innovation scholars and policy makers that knowledge is a key prerequisite for innovation. In keeping with this mind-set, organizations must be willing to search for ideas outside their office walls for the development and execution of innovation. Empirical evidence supports the concept of Open Innovation as a means to increase innovative performance (Laursen and Salter, 2006; Lilien et al. 2002; Pullen et al. 2012).

By expanding their means of value creation, a company is accessing a larger pool of ideas and consequently, they are likely to find creative solutions much faster than firms that stay under the traditional or closed innovation model (Battisti et al. 2014). Nevertheless, there are industries in which secrecy is much treasured; for instance, a business in the wine or food industry is less likely to opt for an open innovation strategy when there is a specific recipe that adds value or uniqueness to their product, and, understandably, are unwilling to share it with their competitors (Dries et al. 2014).

The pursuit of innovative combinations allows firms to improve on their original innovations; by agreeing to open their channels, they are consenting to the complementation of their original ideas with the ones from outside sources, or simply utilizing whichever idea is best. These designs can emerge from intense and extended creative conversation, in which ideas are suggested or challenged. In this context, innovation finds room for improvement- and consequently, the success of the firm- through previous exposure to comments and criticism, which signifies the redefinition and reinterpretation of ideas

Item Type: Dissertation (University of Nottingham only)
Depositing User: EP, Services
Date Deposited: 12 Nov 2014 09:41
Last Modified: 21 Oct 2016 08:57
URI: http://eprints.nottingham.ac.uk/id/eprint/27410

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