Open Innovation from Chesbrough to now: where do we stand today?: An exploratory review of Open Innovation Model

Abstract

Open Innovation (OI) has become one of the most popular concepts in Industry and Academia. Over the past decade, an outstanding body of knowledge (BOK) has been accumulated about OI and nowadays, it is one of the most reviewed topic in the field of “Innovation Management”. The concept has swiftly progressed from a restricted circle of high-tech practitioners, to a widely discussed and implemented concept in different industries. The community of researchers have made it an established research field. The primary goal of this article is to explore the concept recent developments in light of new research findings and industry best practices. Thus, we start by analyzing the model of OI, commonly contrasted to “Closed Model”, then we attempt to categorize OI and to analyze strengths and limitations of each class type. Lastly, we address the crucial issue of OI processes, we attempt to assess recent models, to discuss implementation issues and to select best practices. This paper aims to build on past and present studies to provide future directions, also, limitations are presented to point out issues that remain insufficiently documented and require further academic researches. The main theories and authors (practitioners and academics) who deal with OI have been highlighted.