Abstract
Firms adopt open innovation strategies while integrating several external sources of innovation to enhance innovation capability of NPD process. Using 32 semi-structured interviews from senior managers from 8 larger firms, in the fast moving consumer goods (FMCG) industry, this study has concluded that larger firms frequently integrate with several external sources of innovation that impact positively on NPD process, however, larger firms are required to install strong firm’s level distinct capabilities for market knowledge processing: capabilities for identifying potential sources of innovation, capabilities for knowledge generation and dissemination. Additionally, without having ingrained such strong firm’s level market knowledge processing capabilities in its business model/ system, larger firms are unable to effectively utilize externally generated insights across NPD process.
| Original language | English |
|---|---|
| Title of host publication | ISPIM Boston, 2018 |
| Subtitle of host publication | ISPIM INNOVATION FORUM The Innovation Game – Base Hits, Not Home Runs |
| Pages | 1-19 |
| Number of pages | 19 |
| Publication status | Published - 26 Mar 2018 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 9 Industry, Innovation, and Infrastructure
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