Analysis: open innovation allows companies to use and benefit from valuable knowledge and expertise outside their own organisation
"No matter who you are, most of the brightest people don't work for you. They work for someone else. (So) you need a strategy that allows for innovation elsewhere". That's what Bill Joy, co-founder of Sun Microsystems famously said, and the quotation later became known as Joy's Law. Open Innovation is built on this very principle that valuable knowledge and innovation exists outside your organisation, but the challenge is how to find and integrate this knowledge for the organisation’s benefit.
