| How open innovation can help you cope in lean times. | |
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MedLine Citation:
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PMID: 19968058 Owner: NLM Status: MEDLINE |
Abstract/OtherAbstract:
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A recession often forces you to cut R&D as you refocus on your core. But innovation need not go by the wayside. By placing certain assets and projects outside your walls, you can actually preserve opportunities for future growth while you shore up the fortress. Chesbrough, of Haas School of Business, and Garman, of New Venture Partners, identify five strategic moves that open the door to innovation by, ironically, letting it out of the house. Some inside-out moves permit outside firms to invest in and develop your projects; others call for spinning off projects as separate ventures that still allow you to retain some equity. Whatever the specific approach, you can meet the inherent cultural and organizational challenges of inside-out open innovation by approaching it holistically and placing it under the leadership of senior executives in strategic roles. |
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Authors:
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Henry W Chesbrough; Andrew R Garman |
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Publication Detail:
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Type: Journal Article |
Journal Detail:
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Title: Harvard business review Volume: 87 ISSN: 0017-8012 ISO Abbreviation: Harv Bus Rev Publication Date: 2009 Dec |
Date Detail:
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Created Date: 2009-12-08 Completed Date: 2009-12-29 Revised Date: - |
Medline Journal Info:
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Nlm Unique ID: 9875796 Medline TA: Harv Bus Rev Country: United States |
Other Details:
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Languages: eng Pagination: 68-76, 128 Citation Subset: H |
Affiliation:
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University of California at Berkeley, Haas School of Business, USA. |
Export Citation:
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| MeSH Terms | |
Descriptor/Qualifier:
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Commerce
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economics Diffusion of Innovation* Economic Recession* Efficiency, Organizational Research / organization & administration* United States |
From MEDLINE®/PubMed®, a database of the U.S. National Library of Medicine
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