Innovation and technology management

In the twentieth century the concept of innovation based on traditional model has been dominated on the market - competitive advantage is achieved through the operation of major research laboratories developing technologies that are subsequently used to create new products. However, in the late 20th century, there have been structural changes: increase access to venture capital. There is also an increase of economic integration, internationalization of economic activity, the development of globalization and the emergence of new information and communication capabilities. These factors significantly influenced the reduction in the effectiveness of innovation, based on the use of closed innovation processes. (Henry Chesbrough, Wim Vanhaverbeke and Joel West, eds., “Open Innovation: Researching a New Paradigm”, Antecedents to open innovation)

Introduction 1
What is open innovation? 2
How to create open innovation 4
Why open innovation is good for business? 6
References 7