This topic contains a solution. Click here to go to the answer

Author Question: Explain the concept of open innovation and highlight some of its benefits and drawbacks. What ... (Read 38 times)

strangeaffliction

  • Hero Member
  • *****
  • Posts: 660
Explain the concept of open innovation and highlight some of its benefits and drawbacks.
 
  What will be an ideal response?

Question 2

________ is a work arrangement in which employees work at home and are linked to the workplace by computer.
 
  A) Outsourcing
  B) Coworking
  C) Telecommuting
  D) Hot desking



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

josephsuarez

  • Sr. Member
  • ****
  • Posts: 323
Answer to Question 1

Answer: Open innovation refers to the process of opening up the search for new ideas beyond the organization's boundaries and allowing innovations to easily transfer inward and outward. Some of the benefits associated with open innovation are:
 It gives customers what they want  a voice.
 It allows organizations to respond to complex problems.
 It nurtures internal and external relationships.
 It brings the focus back to the marketplace.
 It provides a way to cope with rising costs and uncertainties of product development.
Some of the drawbacks of open innovation are:
 There is a high demand of managing the process.
 It requires extensive support.
 It poses cultural challenges.
 Greater need for flexibility arises.
 Crucial changes are required in how knowledge is controlled and shared.

Answer to Question 2

Answer: C




strangeaffliction

  • Member
  • Posts: 660
Reply 2 on: Jul 6, 2018
Gracias!


amandanbreshears

  • Member
  • Posts: 320
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

For a complete list of videos, visit our video library