Open Innovation: a popular but misconceived idea

Lately, a lot of people have been talking about Open Innovation but I noticed that very few know what it means. Last month, I was at an event where a few Canadian engineers were recognized for their contribution to the society. During his speech, one of the winners said that in his company, they were the pioneers of Open Innovation. He then explained that they adopted an Open Innovation strategy because they let their employees come up with the ideas and share them with the high executives. In this article, I’d like to clarify a few misconceptions about this statement and the big idea in general….

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