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Open innovation – strengths and weaknesses

Research undertaken by the University of Calabria provides a snapshot of this complex issue

 

 Innovation: always and without a question, though some caution and consideration is required. It’s an important, crucial issue for any business and it continues to be a priority.

We need, however, to understand what it means and how it can be implemented. We also need some outlines, in order to steer its execution, and here is the value of Emanuela Logozzo’s thesis Open Innovation. La globalizzazione dell’innovazione (Open Innovation. The globalisation of innovation), recently defended as part of the Business Economics and Management Master’s degree course, Department of Business and Legal Studies, University of Calabria.

Logozzo explains, “Innovation has been perceived as the central factor for the long-term survival of organisations. The most evolved international companies were able to put in place effective open innovation strategies. Open innovation is a matter of relationships and networking, within a company but also with all actors within an entire ecosystem, from suppliers to customers.” Open innovation is seen as the answer to the growing needs for competitive change in companies that have to contend with increasingly higher financial and organisational costs.

Hence, the author of this investigation looks at the crucial aspects of open innovation, starting from its definitions and characteristics, and going on to explore in depth its obstacles and key drivers in Europe. She reaches a number of conclusions but, above all, highlights the need to evaluate with care what should be adopted as part of an innovation path. “At times,” writes Logozzo, “open innovation represents a convenient, accurate tool for the externalisation of thoughts, even during difficult periods; at other times, however, it can become a sunk cost for organisations that have adopted this kind of business model. Indeed, one of the biggest mistakes one could make with OI is that of squandering resources when there is no need to do so – that is, try to achieve goals methodically while not really understanding the reason why. Closed and open innovations both exist for a reason, and knowing this reason can help organisations to balance them in a consistent manner, getting the best of both worlds.”

Emanuela Logozzo’s research provides an honest and useful overview of the current state of play of a topic still in evolution.

Open Innovation. La globalizzazione dell’innovazione (Open Innovation. The globalisation of innovation)

Emanuela Logozzo

Thesis, University of Calabria, Department of Business and Legal Studies, Master’s Degree Business Economics and Management course, 2020