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Strategy Questions

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Running head: STRATEGY QUESTIONS 1

Strategy Questions

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STRATEGY QUESTIONS 2

Open Innovation and Organization Design

What are the general pros and cons associated with open innovation strategies?

Typically, the open innovation strategy is mainly based on collaboration between

management teams of companies to develop innovation (Tushman et al., 2012). In that regard,

the open innovation strategy involves inflows and outflows of skills to propel internal and

external innovation. However, open innovation strategies are associated with several pros and

cons.

Pros

Open innovation strategies facilitate the creation of new products and services, thereby

helping new investors to start up their operations. Secondly, they are used in innovating old

products and services that increase customer satisfaction in the market (Tushman et al., 2012).

Besides, open innovation benefits people in building a strong community where firms can

engage in community activities through talents. It is also essential in keeping employees engaged

in the workplace.

Cons

The cons associated with open innovation strategy include risks and challenges during the

implementation process and a mishap in the information needed in the development of the

strategy (Tushman et al., 2012). Overall, open innovation strategy exposes firms to the risk of

losing competitive advantage in the market due to the impact of revealing intellectual property.

What are the main differences between the InnoCentive (https://www.innocentive.com/) and

Fiat Mio crowdsourcing projects? Explain why and how these two organizations have

developed different methods and processes for pursuing open innovation strategies

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Running head: STRATEGY QUESTIONS Strategy Questions Student’s Name: Institutional Affiliation: 1 STRATEGY QUESTIONS 2 Open Innovation and Organization Design What are the general pros and cons associated with open innovation strategies? Typically, the open innovation strategy is mainly based on collaboration between management teams of companies to develop innovation (Tushman et al., 2012). In that regard, the open innovation strategy involves inflows and outflows of skills to propel internal and external innovation. However, open innovation strategies are associated with several pros and cons. Pros Open innovation strategies facilitate the creation of new products and services, thereby helping new investors to start up their operations. Secondly, they are used in innovating old products and services that increase customer satisfaction in the market (Tushman et al., 2012). Besides, open innovation benefits people in building a strong community where firms can engage in community activities through talents. It is also essential in keeping employees engaged in the workplace. Cons The cons associated with open innovation strategy include risks and challenges during the implementation process and a mishap in the information needed in the development of the strategy (Tushman et al., 2012). Overall, open innovation strategy exposes firms to the risk of losing competitive advantage in the market due to the impact of revealing intellectual property. What are the main differe ...
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Tags: structure control Open Innovation Culture Organization Design