Abstract:
This paper deals with the topic of innovation looking at technological innovation and new innovative practices. The open innovation concept sheds light on new aspects of technological innovation practices and has some similarities with closed innovation. It is important to emphasize that this innovation in attitudes, technologies and practices is a creative continuous process the history of innovation. Closed and open innovation should not be assumed as possible options and alternatives for the businesses. In fact, this may lead to the false impression that these are mutually exclusive (Trott and Hartmann, 2009). Technology transfer and closed innovation related literature has existed for a long time as a dominant research stream. However, open innovation research is a more recently developed stream that matches new practices and is an effort to address novel outward and inward sophistications. Better understanding of the process of technological innovation along with the ways new approaches evolve in practical aspects is of relevance to the study of innovation. These technological developments also allow us to better understand open innovation discourses influencing the innovation process. These discourses reflect the principles and shape the emerging practices.
