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Study Suggests That Knowing Your Market (and Strategy) Is A Key to Successful Open Innovation

A 2008 study examining open innovation in the food industry suggests how external partnering may be employed in a way that creates the greatest amount of strategic leverage. The research shows that it is possible for product developers to gain technological capabilities through partnering with external parties, but that this alone does not guarantee a pay-off from open innovation. The research suggests that outcomes from open innovation are highly dependent on market type; the key is to know your market and to discern the method of open innovation that best suits it.


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