The impact of Open-Innovation on Luxury brands
Abstract
Considering this situation, the word "open innovation" emerged a few years ago. Open innovation is intended to increase the flexibility of R&D while reducing risk management. The basis of Open Innovation is to open innovative ideas to ensure that companies can use external technologies and identify new market paths for the company's intellectual property. This paper focuses on innovation management, why companies need innovation management, and Open Innovation. Moreover, through Monoid and Louis Vuitton, a case study explores open innovation's role for large, small, and medium enterprises.
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DOI: http://dx.doi.org/10.18686/mmf.v5i3.3592
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