A quantitative model for open innovation and customer involvement. (2019)

• Record Type: Journal Article
• Authors: Efstathiades, Andreas; Papageorgiou, George
• Is Part Of: International journal of economics and business research. Volume 17:Number 2(2019)
• Page Start: 168
• Page End: 188
• Publication Date: 2019
• Subjects: customer involvement -- small and medium enterprises -- SMEs -- management -- open innovation; Economics -- Periodicals; Business -- Periodicals; 330.05
• Languages: English
• ISSNs: 1756-9850

Abstract

This paper investigates the extent to which business organisations in Cyprus use open innovation and customer involvement. Particularly, the product development process is investigated, and how the customer involvement actually occurs. Specifically, we examine the role of customer involvement in the idea generation process; contribution in building innovation capabilities; how co-creation contributes to competency development and goal achievement as well as the role of customer involvement in the overall business performance. Further, we investigate the necessary pre-conditions in terms of organisational culture for effective open innovation implementation. The results presented in this paper would be particularly important for business organisations but also for researchers who are interested for a closer insight in the relationship between open innovation and business performance.