Alar Kolk () (Institute of Strategy and International Business, Helsinki University of Technology) Kristi Püümann () (School of Economics and Business Administration, Tallinn University of Technology)
Abstract
Companies need to be innovative in terms of their business models and technologies to achieve superior performance. As market conditions require innovation to be open, firms develop dynamic capabilities to generate and realise such open strategies. Even though corporate growth in rapidly changing environment is related to opening up innovation as well as developing dynamic capabilities, there is a necessity for appropriate management of openness of innovation strategies as well as management of the dynamics of capabilities. Therefore this paper suggests that firms need to find a balance point between development of their organisational capabilities and openness of their innovation strategies. Co-development of firms´ dynamic capabilities together with Open Innovation Strategies enables firms to maximise their performance.
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Publisher Info
Paper provided by School of Economics and Business Administration, Tallinn University of Technology in its series Working Papers with number
173.
Length: 11 Date of creation: 2008 Date of revision: Publication status: Published in Working Papers in Economics.School of Economics and Business Administration,Tallinn University of Technology (TUTWPE), Pages 73-83 Handle: RePEc:ttu:wpaper:173
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