Open innovation in emerging markets
On the agenda for next week is a work-in-progress manuscript that is written by Sujith and Hanna Paulose (Department of Consumer Sciences, Ohio State University). The manuscript, titled “Open innovation in emerging markets: Time to innovate strategic planning”, will (in it’s full length) be distributed via e-mail. Happy reading!
There has been significant contribution to the management literature on open innovation and partnership strategy, detailing their nature and impact in a wide range of business environment. However, much less have been studied on the need for a new framework of strategy that would incorporate all the aspects of business model restructuring arising as firms switch to an open innovation model by rigorously partnering with inter firm players. This is particularly crucial for the new generation start-ups in emerging markets that neither have any prior business models to look up to nor a predictable market condition. In this context the work conceptualizes a framework that would help strategists position their firm in the market by carefully analyzing it’s interactions with other business and social entities. The paper tries to bring together the theory associated with the theme, which is scattered across the management literature to set a direction for academicians who wish to track the implications of open innovation in emerging markets.
Keywords: Open innovation, inter-firm interaction, business model, emerging markets