forward-looking companies have discovered that their own organization does not generate enough useful new-product ideas.This has caused them to find new product ideas by developing strategic relationships with outside individuals and organizations.This practice is referred to as __________.
A) innovation alliances
B) open innovation
C) open collaboration
D) "piggy-back thinking"
E) stakeholder cooperation

Question

Quizplus · Accepted Answer

Open innovation is the practice of involving external individuals and organizations in the innovation process to find new product ideas. It involves partnerships, collaborations, and sharing of ideas and knowledge to generate innovation. The other options are not accurate or commonly used terminology for this practice.

Forward-Looking Companies Have Discovered That Their Own Organization Does Not