More and more technology companies are adopting open innovation initiatives. This is largely due to the realization of the benefits of working with outside experts to gain external perspectives and insights. This situation wherein an organization thinks beyond its internal resources for innovation and collaborates with external resources is known as open innovation. Open innovation is an opportunity for the company to utilize those external ideas and use them to develop innovative products and services. It may seem simple, but there is more to the collaboration process than just brainstorming.
