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Open Innovation in Hanoi-Based Enterprises

In: Knowledge Transformation and Innovation in Global Society

Author

Listed:
  • Anh Duc Do

    (National Economics University)

  • Thi Bich Chi Pham

    (National Economics University)

  • Thuy Duong Le

    (National Economics University)

  • Dinh Uyen Trinh

    (Trade Union University)

Abstract

Open innovation is a non-traditional approach to innovation wherein firms incorporate external ideas and technologies into their innovation management process rather than rely solely on their own internal knowledge and resources. In the context of the Fourth Industrial Revolution, the open innovation method, compared to the conventional one, appears to be more appropriate as it could assist enterprises successfully enhance the product quality and quickly bring new products to market. However, while an open approach to innovation could offer numerous potentials for advancement, it seems to be difficult for firms, particularly small and medium-sized enterprises, to adopt. This study aims to present open innovation models mostly adopted in practice and provide implications for fostering open innovation in Hanoi-based enterprises in the coming time.

Suggested Citation

  • Anh Duc Do & Thi Bich Chi Pham & Thuy Duong Le & Dinh Uyen Trinh, 2024. "Open Innovation in Hanoi-Based Enterprises," Springer Books, in: Hoa Van Thi Tran & Hiromi Shioji & Huong Lan Thi Le & Takabumi Hayashi (ed.), Knowledge Transformation and Innovation in Global Society, pages 263-273, Springer.
    • Handle: RePEc:spr:sprchp:978-981-99-7301-9_13
    DOI: 10.1007/978-981-99-7301-9_13
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