Co-Development of Open Innovation Strategy and Dynamic Capabilities as a Source of Corporate Growth
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 firmsÂ¥ dynamic capabilities together with Open Innovation Strategies enables firms to maximise their performance.
|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|
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- Helfat, C.E. & Raubitschek, R.S., 2000. "Product Sequencing: Co-Evolution of Knowledge, Capabilities and Products," Papers 00-1, U.S. Department of Justice - Antitrust Division.
- Margaret A. Peteraf & Jay B. Barney, 2003. "Unraveling the resource-based tangle," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 24(4), pages 309-323.
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