Open innovation – potential, constraints and prospects

  • 1 Univers ity of Mining and Geology “St. Ivan Rilski”, Sofia, Bulgaria


In the last decades innovations are defined as main priority. Overtime they become an instrument for achieving economic growth and social progress, increasing life standard and aiding in resolving difficult economic problems. The integration, globalization and concurrence define the goal of business organizations to become more innovated, adaptive and flexible in order to never stop developing, gain concurrence advantages and preserve their market share. They always have to take into consideration the constant changing conditions, the turbulent business environment and the increased consumer requirements for end products. In response of this necessity a new innovating model has been created and implanted, better known as open innovation. This relatively new modern concept shows significant potential for developing and by doing this it finds a place in the business practice. By proving its effectiveness through achieving positive results, the open innovation is established as a successful and useful model for innovation, outlining different per spectives and new routes for developing business organizations.



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