Combining open innovation with corporate venturing: a case of how to balance incremental and radical innovation

Ann H. Clarke, Majbritt Rostgaard Evald and Kristin B. Munksgaard

International Journal of Entrepreneurship and Innovation Management, 2012, vol. 15, issue 4, 253-274

Abstract: By combining existing research on open innovation and corporate venturing, this article explores methods by which a firm can organise open innovation activities in a comprehensive innovation setup. This setup concurrently manages to create and sustain incremental and radical innovative efforts for developing its business. Discussions draw on findings from a qualitative case study of the Danish industrial firm Danfoss Group. Findings reveal that employment of inbound, outbound, and coupled open innovation processes vary between the firm's divisions and incubator as the innovation purposes and strategies of these correspond to different open innovation processes. Further, the incorporation of open innovation processes into Danfoss' comprehensive innovation setup highlights that these not only take form in relation to external partners but also between units of the firm, thus the notion of intra and inter open innovation processes is introduced.

Keywords: intra open innovation; corporate venturing; inbound processes; outbound processes; coupled processes; inter open innovation; incremental innovation; radical innovation; innovation processes; Denmark; Danfoss Group; refrigeration; air conditioning; external partners; internal units; entrepreneurship; innovation management. (search for similar items in EconPapers)
Date: 2012
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=48081 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijeima:v:15:y:2012:i:4:p:253-274

Access Statistics for this article

More articles in International Journal of Entrepreneurship and Innovation Management from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().