Encouraged by the _______________ movement,many firms are increasingly going outside the company to tap external sources of new ideas,including customers,scientists,competitors,employees,channel members,and top management.

Question

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The term "open innovation" refers to the practice of firms seeking to tap into external sources of ideas and innovation, including customers, scientists, and even competitors. This movement has gained traction in recent years as companies have realized that they cannot rely solely on their own internal R&D efforts to drive innovation. Open innovation allows firms to leverage a broader range of expertise and perspectives, and can lead to faster and more effective development of new products and services.

Encouraged by the _______________ Movement,many Firms Are Increasingly Going Outside