Open Innovation: from OI to OI2

Working Paper
Vânia Pacheco, Nuno Araújo, Luis Rocha
EconWorld Working Papers Series No: 2020001
DOI: doi: 10.22440/EconWorld.WP.2020.001

 

Abstract

Popularized in the early of 2000s, the concept of Open Innovation (OI) is a systematic process that instigates the circulation of ideas among different exploitation vectors focused on value creation. Over the past decade, the OI paradigm had a significant impact on the emergence of innovation networks and ecosystems. With the emergence of digital disruptive technologies, a new approach to OI has emerged -Open Innovation 2.0 (OI2) -incorporating technological, social, political, environmental dimensions, based on principles of integrated collaboration and co-created shared value, cultivating innovation ecosystems, unleashing the power of exponential technologies, with extraordinarily rapid adoption. This article will begin by explaining the evolution from IO to IO2. Key incentives, risks and costs associated with this new strategic approach to innovation will also be identified, as well as, the factors and the conditions of success that lead companies to formulate OI2 strategies starting from OI. This study will culminate in the identification of some initiatives developed in Portugal that are contributing to this transition. The analysis carried out will show that OI2 is not a panacea that can solve any challenge, but help drive significant structural changes and benefits through innovation to society and industry.

Keywords: Open Innovation, Open Innovation 2.0, Co-creation, Digital Agenda, Networking

Jel Codes: O32, Q55

CSRPolicies on Community Relationships as Value Drivers of Spanish Firms

Working Paper
Sonia Benito-Hernández, Cristina López-Cózar Navarro, Gracia Rubio Martín
EconWorld Working Papers Series No: 2020002
DOI: doi: 10.22440/EconWorld.WP.2020.002

 

Abstract

This paper provides empirical evidence of efforts to enable Spanish manufacturing companies to boost their economic profitability rates through the development of Corporate Social Responsibility (CSR) policies. This study aims to develop new approaches and sensibilities towards work from an ethical, values (virtues) and CSR perspective, showing how internal and externaldimensions of CSR -such as those related to relationships with employees, relationship with the community and responsibility in process quality management -contribute to improve the economic profitability of the company (ROA) in addition to improving society. The results of a sample of 6,186 businesses show that, in general, the implementation of collaboration policies have increased relationships with the community. Alliances with competitors, institutions and suppliers had a significant positive effecton increased ROA. Nevertheless, as we anticipated, cooperation with customers had a negative impact on ROA. In addition, to improve relationships with employees, the implementation of quality policies had a positive and relevant impact on the ROA.

Keywords: Economic Profitability, Policies of CSR, Employees’ Relations, Responsibility in Quality Management, Community Relations.

Jel Codes: M14, L20

The Effect of Foreign Trade on Innovation: The Case of Brics-T Countries

Working Paper
Betül Gür
EconWorld Working Papers Series No: 2020003
DOI: 10.22440/EconWorld.WP.2020.003

 

Abstract

The power that makes countries superior to each other in global competition is their ability to be innovative. With Industry 4.0, today's industrial policies are being established on an innovation basis. The degree of countries' trade openness in the economy is very important for developing countries in terms of learning and developing information and technology and ultimately contributing to the improvement of their innovation capacities. This study aims to determine the effects of the main foreign trade indicators on innovation with respect to the developing countries group BRICS-T through panel cointegration analysis for the period 2007-2019. In terms of foreign trade, "export", "import", and "foreign direct investment" have been taken into account, and the "global innovation index" has been taken into consideration as the indicator of innovation. As a result of the cointegration analysis, it has been determined that the variables are related in the long run, exports have a positive effect on innovation, whereas imports and foreign direct investments adversely affect innovation. As a result of causality analysis, a two-way causality relationship has been found between export and innovation while a one-way causality has been detected with direct foreign investment and import.

Keywords: Innovation, Foreign Trade, Panel Cointegration Analysis

Jel Codes: O30, O57

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