Impact of Open Innovation on Firm Performance: A Literature Review

Dilrukshi, M. G. M.; Wickramasinghe, C. N.; Edirisinghe, S.D.

doi:10.4038/sajbi.v2i1.33

Cited by 3 publications

(3 citation statements)

References 43 publications

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“…OI is the best solution for preventing R&D issues and gaining sustainable competitive advantages in the competitive landscape (Bigliardi et al, 2020;Dilrukshi et al, 2022;Moretti & Biancardi, 2020)…”

Section: Discussionmentioning

confidence: 99%

“…Hence, this study selected knowledge creation since knowledge creation is the starting point of knowledge management and a prominent variable in the knowledge management process (Nonaka & Takeuchi, 1995). Further, some literature review papers also revealed that knowledge creation is not tested yet as the mediating variable between OI and FP (Dilrukshi et al, 2022). Hence, this study assumes that knowledge creation has a more explanatory power to describe the OI-FP relationship.…”

Section: Proposed Conceptual Frameworkmentioning

confidence: 99%

“…However, previous researchers have provided inconclusive arguments on the effect of OI on FP. This incomplete literature and ongoing debate on the effect of OI and FP shows that there may be some facts that are not revealed by the existing literature (Dilrukshi, Wickramasinghe, & Edirisinghe, 2022). As well, some researchers criticize the OI theory by emphasizing its limitations (Bogers, 2011;Dekkers, Koukou, Mitchell, & Sinclair, 2019;Enkel, Gassmann, & Chesbrough, 2009;Trott & Hartmann, 2009).…”

Section: Introductionmentioning

confidence: 99%

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The Effect of Open Innovation on Firm Performance: Research Gaps

Shi¹,

Wickramasinghe²

2023

Wayamba J Mgt

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Open innovation can be considered as the critical branch of innovation management. It is an emerging field of research that is important for achieving sustainable competitive advantages through enhancing firm performance. This study aims to identify the research gaps in the effect of open innovation and firm performance based on the systematic literature review process. Depending on the systematic approach current study expects to find out research gaps and it targets to develop a conceptual framework to minimize the identified research gaps in the effect of open innovation and firm performance for future empirical investigations. An extensive literature review was implemented to achieve the research objectives through the adaptation of the desk research strategy. The systematic literature review process explored the effect of open innovation and firm performance was not entirely positive. Further, it discovered the three research gaps between open innovation and firm performance mainly. A conceptual framework was developed to minimize the identified research gaps by identifying a new variable to the established relationship. The literature survey and logical arguments provide a solid foundation to build up the conceptual framework. It was proposed to be tested empirically in the research context of listed companies in Sri Lanka by future researchers.

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Section: Discussionmentioning

confidence: 99%

Section: Proposed Conceptual Frameworkmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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The Effect of Open Innovation on Firm Performance: Research Gaps

Shi¹,

Wickramasinghe²

2023

Wayamba J Mgt

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Open innovation and firm performance in emerging economies: a bibliometric and TCCM analysis review

Majumdarr,

Dasgupta,

Farooq

2023

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PurposeCompared to their counterparts in developed economies, businesses established in emerging economies continuously struggle due to resource and time constraints. Open innovation (OI) allows these firms to bridge the gap and advance towards technological advancements; however, the scholarly knowledge on the subject is not systematized. Thus, this study synthesizes the extant literature, proposes a framework and highlights future research avenues for domain advancements.Design/methodology/approachBased on the Scientific Procedures and Rationales for Systematic Literature Reviews (SPAR-4-SLR) framework, the study evaluates 79 journal publications from Scopus and Web of Science (WoS). The bibliometric analysis highlights annual publication trends and research clusters, whereas TCCM analysis provides deep analysis into applied theories, context and characteristics, i.e. OI–performance linkage, barriers, mediators and moderators, followed by employed methodologies in the domain.FindingsThe bibliometric results showcase a rising publication trend, significant research clusters and trends, whereas the content analysis via TCCM framework identifies theories, contexts and methodologies employed in the domain. In terms of characteristics, the OI–performance relation and barriers at diverse levels, followed by the moderating and mediating mechanism, are further explained in detail.Originality/valueThis is the first study to examine OI and firm performance in the context of emerging economies and employ rigorous frame-based bibliometric and content analysis measures, establishing the foundations for a comprehensive understanding.

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An Analysis of Critical Factors Affecting the Success of Open Innovation Strategies in High-Tech Firms: The Case of South Korea

Song,

Kim

2024

Administrative Sciences

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High-tech firms face constant innovation and challenges due to a rapidly changing tech environment. Open innovation strategies are an important solution for fostering rapid and efficient innovation by leveraging external capabilities. This study explores the critical factors that influence open innovation strategies in high-tech companies, assessing their importance and providing key insights for promoting these strategies. Through a comprehensive literature review and expert interviews, 16 key factors impacting open innovation were identified. A hierarchical research model was developed using the ser-M (subject, environment, resource, mechanism) framework, focusing on subject, environment, resource, and mechanism for a corporate strategy analysis. A survey and an AHP analysis were conducted with 30 participants, comprising engineers and open innovation experts, all with over a decade of experience in the field within Korean high-tech companies. The analysis focused on four critical elements: subject, environment, resource, and mechanism; subject emerged as the most critical factor for successfully implementing open innovation strategies. Specifically, the will of chief executives, the direction of decision-making, and technological environment changes were found to be significant contributors. The consensus between engineers and experts confirms that while environmental and resource factors are vital, strong leadership and effective decision-making are paramount for successful open innovation in high-tech companies.

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Impact of Open Innovation on Firm Performance: A Literature Review

Cited by 3 publications

References 43 publications

The Effect of Open Innovation on Firm Performance: Research Gaps

The Effect of Open Innovation on Firm Performance: Research Gaps

Open innovation and firm performance in emerging economies: a bibliometric and TCCM analysis review

An Analysis of Critical Factors Affecting the Success of Open Innovation Strategies in High-Tech Firms: The Case of South Korea

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