Open Innovation and Stakeholder Engagement

Robert Wayne Gould

doi:10.4067/S0718-27242012000300001

Authors

Robert Wayne Gould University of Maryland University College, European Division

DOI:

https://doi.org/10.4067/S0718-27242012000300001

Abstract

The paradox of open innovation lies in the conflict between the practical desire to reap the benefits of open innovation and concern over the risk that others will misappropriate those benefits. Stakeholder theory and recent developments in value creation through stakeholder engagement can assist with reconciliation of this inherent structural risk. The limitations of existing open innovation typologies are identified, and a process-based model of open innovation is proposed. The model is then expanded to include stakeholder engagement. When integrated with stakeholder engagement, open innovation processes can be understood to generate benefits beyond the acquisition of specific information sought from external experts. The addition of stakeholder engagement to the open innovation model allows for greater understanding and easier acceptance of the risks inherent in the open innovation process.

Keywords:

open innovation
paradox
stakeholder engagement
misappropriation
knowledge leakage
collaboration.

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Author Biography

Robert Wayne Gould, University of Maryland University College, European Division

Adjunct Associate Professor, University of Maryland University College-Europe and Doctoral Candidate, University of Maryland University College-Adelphi

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