Impact of Open Innovation on Economic Development - Opportunities and Challenges Cover Image

Въздействие на отворените иновации върху икономическото развитие – възможности и предизвикателства
Impact of Open Innovation on Economic Development - Opportunities and Challenges

Author(s): Viktor Marinov
Subject(s): Economy, Business Economy / Management
Published by: Стопанска академия »Д. А. Ценов«
Keywords: open innovation; SMEs; growth; competitiveness

Summary/Abstract: In recent years, open innovation has emerged as a transformative paradigm in technology and business, reshaping traditional innovation models and fostering collaboration between diverse stakeholders. The purpose of the article is to analyse the multifaceted impact of open innovation on the development of the business organisations, exploring both the opportunities they provide and the challenges they face. The study is based on desk research and GAP analysis of case studies from different regions and industries to outline a perspective on the impact of open innovation on economic development in general. The conclusions drawn highlight the need for a balanced management approach that maximizes the benefits of open innovation while mitigating its potential draw-backs. The resulting study offers a basis for informed decision-making and policy formulation to harness the full potential of open innovation for sustainable economic development.

  • Issue Year: 2023
  • Issue No: 19
  • Page Range: 271-283
  • Page Count: 13
  • Language: Bulgarian
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