How Can Enterprises Achieve Technological Breakthrough and Market Leadership Through Open Innovation
Year: 2025
Type: article
Abstract: In today's fast-developing business environment, how to achieve technological breakthrough and market leadership through open innovation has become a critical issue for enterprises. Open innovation, as an innovation mode, can promote enterprises to continuously conduct technological innovation through in-depth cooperation and exchange inside and outside. To implement the open innovation strategy, we first need to build an open and inclusive innovation culture and create an atmosphere conducive to innovation. At the same time, strengthen internal and external cooperation and exchanges, use external resources to make up for their own shortcomings and expand the scope of innovation. Build an open innovation platform so that enterprises can better share resources, knowledge, and achievements with the outside world. The implementation of these strategies can not only promote technological breakthroughs, but also accelerate the process of product marketization, expand market space, and enhance brand influence. Therefore, enterprises should actively embrace open innovation to achieve technological breakthroughs and market leadership, to be invincible in the fierce market competition.
Source: Hong Kong Financial Bulletin
Author: Yaowen Hu
Institution: New York University
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4408498907