Which of the following means extending the search for and commercialization of new ideas beyond the boundaries of the organization and even beyond the boundaries of the industry, sharing knowledge and resources with other organizations and individuals outside the firm?
A) Knowledge sharing
B) Open innovation
C) Internal coordination
D) Crowdsourcing
E) Reverse innovation

Question

Quizplus · Accepted Answer

Open innovation means extending the search for and commercialization of new ideas beyond the boundaries of the organization and even beyond the boundaries of the industry, sharing knowledge and resources with other organizations and individuals outside the firm. Knowledge sharing refers more broadly to the sharing of information and expertise within an organization or between organizations. Internal coordination refers to the processes and systems used within an organization to coordinate activities and resources. Crowdsourcing involves soliciting ideas or contributions from a large group of people outside the organization. Reverse innovation occurs when innovations are created in or for emerging markets and then brought back to developed markets.

Which of the Following Means Extending the Search for and Commercialization