Open innovation for product growth acceleration.

Open Innovation has been widely embraced in organizations across the world. It has proven its effectiveness in the US and Europe, as well. Many cases of it being used efficiently by businesses like P&G, Lego, Samsung, GE, Tata Group, Marico, Philips, and BlaBlaCar. On the other hand, there are still firms that are yet to embrace Open Innovation or are unable to extract value from it. The promise of Open Innovation Time savings: reduction of time-to-market via Open Innovation. Cost savings: reduction of cost-to-market Open Innovation brings more novelty to current or new customer segments than Close Innovation. Open Innovation is an efficient way to face fierce competition in an environment where new business models and processes are being scaled by fact moving innovators. Its achievement is rooted in organizing multi collaboration between various players and parties to create a sum that is greater than the parts of the partners. When put into practice, this enables organizations to access ideas, skills, technologies, and assets quickly, combine them efficiently and bring product growth quicker and cheaper.