Difference between revisions of "What are the advantages and disadvantages of closed innovation"
Jump to navigation
Jump to search
(Created page with ''''Advantages'''<br> Less external participation in the R & D process encourages standardization over time in the closed innovation sphere, which makes its distribution channel q…') |
|||
| Line 3: | Line 3: | ||
By running their own research and development units, independent of the commercial application of science by Government agencies and Universities, companies set up and manage their own R & D units, exercising control over the entire NPD cycle which is integrated within the company. This model of internal R&D has always been perceived as a strong barrier for potential new competitors, as the old convention was the requirement of large investments to be able to compete. | By running their own research and development units, independent of the commercial application of science by Government agencies and Universities, companies set up and manage their own R & D units, exercising control over the entire NPD cycle which is integrated within the company. This model of internal R&D has always been perceived as a strong barrier for potential new competitors, as the old convention was the requirement of large investments to be able to compete. | ||
Many of the greatest inventions either in the product(s) or services space had their modest beginnings in the vertically integrated model of closed innovation i.e. Coca-Cola<br> | |||
'''Disadvantages'''<br> | '''Disadvantages'''<br> | ||