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Casting a Wide Net: Building the Capabilities For Open Innovation

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Many companies have embraced open innovation and not met success. But some of these companies are unfit for open innovation because they lack the capabilities needed to promote and leverage internal and external collaboration. These authors describe three innovation strategies — need seeker, technology driver, and market reader — and four steps for establishing open innovation. The article concludes with an interview with the chief technology officer of 3M, one of the world’s most innovative companies.
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