Summary of Open Innovation

The New Imperative for Creating and Profiting from Technology

Harvard Business Review Press, more...

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Open Innovation book summary
Open your firm to innovation from the outside in

Rating

8 Overall

8 Applicability

8 Innovation

7 Style

Recommendation

This intriguing book proves just how right author Henry Chesbrough is – and has been since its first edition in 2005. He devotes a major portion of his work to explaining the differences between “Open and Closed Innovation paradigms,” and to arguing for the necessity of the open model. In the years since his book’s publication, Open Innovation platforms have increasingly become the norm. Clearly, Chesbrough was forward-looking, and his studies of specific corporations’ innovation successes or failures remain fresh and instructive. Firms grappling with Open Innovation models can benefit enormously from his guidelines on how best to use them. getAbstract recommends this informative standard in the field to inventors and innovators, those responsible for corporate knowledge management, and all leaders trying to design their organizations for innovation.

In this summary, you will learn

  • How “Closed and Open Innovation” differ
  • Why Open Innovation is now superior
  • How to apply an Open Innovation paradigm to your organization’s research and development functions
 

Summary

The Paradox of Innovation
Businesses face a paradox: While innovation clearly drives success, “most innovations fail.” So how should your company best organize its creative and research efforts to navigate this seeming inconsistency? Broadly speaking, two models define innovation efforts...
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About the Author

Henry Chesbrough is the Executive Director of the Center for Open Innovation at the University of California, Berkeley, Haas School of Business. He is also a professor at the Haas School.


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