Is Open Innovation just for Technology Companies?

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Open innovation is said to have started in the technology sector, but it is no longer the only industry that utilizes it principles. Consumer packaged goods companies like General Mills and Procter & Gamble are utilizing it. And I even recently read the financial industry has been incorporating this into their business plans.

What about the service industry? The new book coming out this January called Open Services Innovation: Rethinking your business to grow and compete in a new era, (Jossey Bass, 2011), by Henry Chesbrough’s will talk about using the open innovation business model in the service industry as a growth strategy.

Dr. Henry Chesbrough is a contributor to the website, Open Innovation Community, and more importantly coined the term open innovation. He has written several books on the subject and is a guru on innovation models that drive transformation and growth. Dr. Chesbrough is also the Executive Director for the Center of Open Innovation at Berkley University

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