IDEAS home Printed from https://ideas.repec.org/h/spr/mgmchp/978-981-10-4128-0_2.html
   My bibliography  Save this book chapter

Dynamics of the Open Innovation Economy System

In: Business Model Design Compass

Author

Listed:
  • JinHyo Joseph Yun

    (Tenured Researcher of DGIST and Professor of Open Innovation Academy of SOItmC)

Abstract

The first purpose of this chapter is to understand the modern economy from the perspective of the technology and the market. The second and main purpose is to find ways to conquer the growth limits of capitalism by connecting and combining the technology and the market. Based on existing studies of the growth limits of capitalism by Marx and Schumpeter as well as recent discussions by Drucker, Rifkin, and Piketty, the Schumpeterian dynamic model of an open innovation economy system (OIES) is proposed as an answer to the research questions posed here. OIES consists of an open innovation economy, a closed innovation economy, and a social innovation economy. The Schumpeterian dynamics of OIES arises from the positive interaction among the open innovation economy, closed innovation economy, and social innovation economy. The Schumpeterian dynamics of the OIES circle are from an open innovation economy, through a closed innovation economy and social innovation economy, and back to an open innovation economy again. In addition, the validation of the model for the Schumpeterian dynamics of OIES is improved by simulating the life cycle of the dynamics of OIES, the low-level OIES dynamics, and the high-level OIES dynamics and by inquiring about a practical economic system corresponding to each simulation situation. Next, through a comparative discussion between the linear steps of Schumpeter 1 and 2, the socialist democracy system, and the Schumpeterian dynamics of an open innovation economic system, the practical and theoretical characteristics of the Schumpeterian dynamics of OIES are clearly defined. Finally, the usage of the Schumpeterian dynamics model is proposed for connections and combinations between technology, market, and society.

Suggested Citation

  • JinHyo Joseph Yun, 2017. "Dynamics of the Open Innovation Economy System," Management for Professionals, in: Business Model Design Compass, chapter 2, pages 17-40, Springer.
    • Handle: RePEc:spr:mgmchp:978-981-10-4128-0_2
    DOI: 10.1007/978-981-10-4128-0_2
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:mgmchp:978-981-10-4128-0_2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.