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|Title: ||Understanding the advantages of open innovation practices in corporate venturing in terms of real options|
|Authors: ||VANHAVERBEKE, Wim|
Van de Vrande, V.
|Issue Date: ||2008|
|Citation: ||IEEM: 2008 INTERNATIONAL CONFERENCE ON INDUSTRIAL ENGINEERING AND ENGINEERING MANAGEMENT: vol. 1-3. p. 954-958.|
|Abstract: ||Part of the advantages of using an open innovation (compared to closed innovation) in corporate venturing can be explained by applying the real options approach. Open innovation in risk-laden activities such as corporate venturing has the following advantages: i. benefits from early involvement in new technologies or business opportunities, ii. delayed financial commitment, iii. early exits reducing the downward losses, and iv. delayed exit in case it spins off a venture. We furthermore argue that these benefits do not automatically materialize. Innovation firms have to learn new skills and routines to develop the full 'real option'-potential of open innovation practices.|
|Notes: ||[Vanhaverbeke, W. Wim] Hasselt Univ, Dept Business Studies, Hasselt, Belgium.|
|Link to publication: ||http:/dx.doi.org/10.1109/IEEM.2008.4738011|
|ISI #: ||000269126600191|
|Type: ||Proceedings Paper|
|Validation: ||ecoom, 2010|
|Appears in Collections: ||Research publications|
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