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Title
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Understanding the advantages of open innovation practices in corporate venturing in terms op real options
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Author
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Abstract
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| Part of the advantages of using 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. Innovative firms have to learn new skills and routines to develop the full 'real option' potential of open innovation practices. |
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Language
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English
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Source (journal)
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Creativity and innovation management / Manchester Business School. - Oxford
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Publication
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Oxford
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2008
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ISSN
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0963-1690
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DOI
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10.1111/J.1467-8691.2008.00499.X
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Volume/pages
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17
:4
(2008)
, p. 251-258
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Full text (Publisher's DOI)
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