Co-Development of Open Innovation Strategy and Dynamic Capabilities as a Source of Corporate Growth

Alar Kolk () and Kristi Püümann ()
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Alar Kolk: Institute of Strategy and International Business, Helsinki University of Technology
Kristi Püümann: School of Economics and Business Administration, Tallinn University of Technology

No 173, Working Papers from School of Economics and Business Administration, Tallinn University of Technology

Abstract: 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 firms´ dynamic capabilities together with Open Innovation Strategies enables firms to maximise their performance.

Keywords: open innovation; open business model; innovation strategies; dynamic capabilities; corporate growth (search for similar items in EconPapers)
JEL-codes: L29 O30 O31 O32 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cse, nep-ino, nep-ipr and nep-mic
Date: 2008
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Published in Working Papers in Economics.School of Economics and Business Administration,Tallinn University of Technology (TUTWPE), Pages 73-83

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