Choosing the Most Effective Networking Strategy and Practice for Open Innovation (original) (raw)

In today’s world, innovation is a very important force to enable companies to survive. It is no longer enough for companies to develop products or services using only their internal resources. For this reason, companies are receiving support from external sources in order to save time and cost while continuing innovation activities. This approach is an open innovation approach that includes customers, suppliers, consumers and other firms. In recent years it has been observed that companies that adopt open innovation are ahead of the competition. Choosing effective strategies and practices when networking with external partners plays an important role for success. In this study, 20 large companies interested in open innovation in America were selected and criteria they consider when creating their open innovation networks and strategies and practices they use were investigated. After reviewing the literature on open innovation, eight criteria and fifteen strategies and practices have...