HARNESSING THE VALUE OF OPEN INNOVATION: THE MODERATING ROLE OF INNOVATION MANAGEMENT
Torsten Oliver Salge (),
Thomas Marc Bohné (),
Tomas Farchi () and
Erk Peter Piening ()
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Torsten Oliver Salge: Ruhr-University Bochum, Universitaetsstrasse 150, 44780 Bochum, Germany
Thomas Marc Bohné: The University of Auckland Business School, The University of Auckland, 12 Grafton Road, Auckland 1142, New Zealand
Tomas Farchi: IAE Business School, Universidad Austral Mariano Acosta s/n, Buenos Aires B1629WWA, Argentina
Erk Peter Piening: Faculty of Management and Economics, Leibniz University Hannover, Koenigsworther Platz 1, 30167 Hannover, Germany
International Journal of Innovation Management (ijim), 2012, vol. 16, issue 03, 1-26
In this paper, we develop and test a firm-level contingency model of inbound open innovation in an attempt to contribute to explaining the substantial disparities in open innovation payoff that exist between firms. Integrating elements from the resource- and knowledge-based views and the absorptive capacity literature, we propose that specific innovation management activities can play an important moderating role as they are likely to enhance firms' capacity to identify, assimilate and utilise external knowledge inputs. Drawing on longitudinal data from 1,170 German manufacturing and service firms, econometric analyses reveal that returns from open innovation are greatest when firms maintain their internal research capacity, employ a dedicated incentive system for innovation and advocate strong cross-functional collaboration. Decision-makers are thus well advised not to take positive returns from open innovation for granted. Rather, they need to achieve excellence in key innovation management activities, if their firm is to fully harness the value of openness.
Keywords: Open innovation; innovation management; contingency theory; absorptive capacity (search for similar items in EconPapers)
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