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The Open Innovation Model: Explaining The Factors That Hinder Its Implementation In The Albanian Banking System

Author

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  • Besarta Vladi

    (European University of Tirana)

Abstract

The implementation of an open innovation model is considered by many researchers, to be a great opportunity to help profit-making organizations become more competitive and successful. But some sectors, such as the banking sector, are not able to apply this model. In the Albanian banking sector, the concept of an open innovation model is almost unknown to executive directors. The question is: Why does this happen? The implementation of an open innovation model is strongly affected by cost, short term focus, legislative problems, lack of information, and frequently by a lack of interest in cooperation. As a possible solution for this problem, especially during the financial crisis which has impacted Albanian as well as the rest of the world, raising a strong awareness of the importance of this model could be one route to improve the level of competitiveness in the banking sector.

Suggested Citation

  • Besarta Vladi, 2013. "The Open Innovation Model: Explaining The Factors That Hinder Its Implementation In The Albanian Banking System," CBU International Conference Proceedings, ISE Research Institute, vol. 1(0), pages 69-74, June.
    • Handle: RePEc:aad:iseicj:v:1:y:2013:i:0:p:69-74
    DOI: 10.12955/cbup.v1.16
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    Cited by:

    1. Peter Nientied & Elona Karafili, 2016. "Towards a Pragmatic Perspective on Business Innovation in Western Balkan Countries: The Case of Albania," International Journal of Business and Management, Canadian Center of Science and Education, vol. 11(3), pages 193-193, February.

    More about this item

    Keywords

    innovation; open innovation model; banking system; competitiveness;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

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