The term “open innovation” was popularized by Henry Chesbrough in his book Open Innovation: The New Imperative for Creating and Profiting from Technology. He wrote “Open innovation is a paradigm that assumes that firms can and should use external ideas as well as internal ideas, and internal and external paths to market, as the firms look to advance their technology”.
Bearing in mind that the definition of “innovation” is “the implementation of creative ideas in order generate value, usually through reduced operational costs, increased income or both”, a more accurate term for “open innovation would be:” open idea generation.” However, the term “open innovation” is in widespread use and there is no way we are going to change that. So we will have to stick with it, as semantically unsettling as it may be!
Bearing in mind that the definition of “innovation” is “the implementation of creative ideas in order generate value, usually through reduced operational costs, increased income or both”, a more accurate term for “open innovation would be:” open idea generation.” However, the term “open innovation” is in widespread use and there is no way we are going to change that. So we will have to stick with it, as semantically unsettling as it may be!