OPEN INNOVATION – THE GOOD, THE BAD, THE UNCERTAINTIES

Authors

  • Eliza Laura Coras Bucharest University of Economic Studies
  • Adrian Dumitru Tantau Bucharest University of Economic Studies

Abstract

Abstract:

Given the limited amount of research written about the open innovation practices of companies located in Romania, we consider of high weight the need to stress on the benefits, the barriers and the drawbacks entailed by open innovation projects..

What allures firms to embrace open innovation is their resource deficiency, insufficient abilities to explore and exploit technology, knowledge gaps and financial constraints. The extensive literature written on open innovation subjects highlights the motives, the benefits and the barriers these but the studies focusing on the risks of open partnerships are scarce.

This paper draws on theoretical literature and contemporary media accounts, building the argument for a significant impact of open innovation to the current economic background. This paper both explores the motives of firms embarking in collaborative relationships, but also the diversity of risks entailed, raising awareness of this framework of uncertainties. Within the study, our work highlights that open innovation in is impeded by risks related to technology, market place, collaboration among partners, financial sources availability, clients needs, workforce, knowledge and intellectual property rights.

By undertaking this study we aim to contribute to the scarce literature on open innovation risks and to shed light on the factors that a firm needs to approach in order to foster a culture for open innovation and, in the same time, to reduce the drawbacks of open innovation.

Author Biographies

Eliza Laura Coras, Bucharest University of Economic Studies

In am currently in my 3rd year of PhD studies at the Academy of Economic Studies in Bucharest. My research is focused in risks in the innovation process and my practical studies are aimed to open innovation practices. However, I am a practitioner in the banking industry, since my field of work is credit risk management; during my eight year experience in the banking field I have accumulated extensive knowledge on all banking processes and risks. 

Adrian Dumitru Tantau, Bucharest University of Economic Studies

Adrian Tantau is a professor at the UNESCO Chair of the Faculty of Business Administration in the University of Economic Studies, Bucharest, and is Dean of the same Faculty. He has a PhD in Management and a PhD in Electric Engineering and from 2010 he coordinates PhD students in the field of business administration. Since 2009 he is Manager of the German-Romanian MBA (taught in Geman), which is conducted in cooperation with the University of Applied Sciences Gelsenkirchen. He is a founding member and president of the Society for Business Excellence

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Published

2014-07-05

Issue

Vol. 14 No. 1(19) (2014)

Section

Economy, trade, services