Growing through open innovation
Open innovation is more than collaborative problem-solving – in fact, it can be a pivotal strategic initiative to evolve a business.
“We’ve always had open innovation. But the awareness of it has increased"
CBS Teaching Associate Professor and Study Director Palle Høy Jakobsen speaks on the advantages of respectively closed and open innovation, while Professor with Special Responsibilities Kristina Dahlin shares success stories and matters to consider, when engaging in open innovation.
Opportunities in open innovation
Bridging the gap between internal and external in any industry, open innovation can help create new revenue streams, increase competitive advantages and access talent.
In the life science domain, open innovation has proved its potential to curb costs and shorten development times. We've seen how large firms have collaborated with university-based scientists or biotech firms to reduce uncertainty in R&D, which has declined in activity in the past decades. However, although there are many benefits, open innovation may not be the right strategy for everyone.
Therefore, there are a lot of decisions to be made when it comes to engaging in open innovation.
Last November, a CBS Executive Education event dived into the opportunities and pitfalls of engaging open innovation to develop new products and empower companies’ R&D. Drawing inspiration from open innovation in life science, the event looked at the productivity advantage and application strategies.
Meet the speakers
Kristina Dahlin
Kristina is an organisational scholar who studies innovation and learning. She does empirical research on multiple levels of analysis: individual, team, technology and organisational as well as networks and has studied the tennis racket industry, phone operators, cellular equipment manufacturers, freight rail, robotics and medical devices. She teaches Managing Open Innovation at Master of Business Development.
Palle Høy Jakobsen
Palle Høy Jakobsen teaches commercialisation and innovation topics within science fields at CBS and the University of Copenhagen. He's organised summer schools in innovation, taught project management and drug development at the Danish Technical University and negotiation simulations at Uppsala University Summer School. He's been a teacher at patent and licensing courses at the Danish Patent Office and CBS and acted as a facilitator at a New Department Managers course at Novo Nordisk.
These insights were shared at a CBS Executive Education event
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