Open Innovation at Siemens AG
Open Innovation at Siemens AG
This chapter examines the open innovation (OI) project of Siemens AG. It describes the company’s range of OI activities and the recruitment of smart people for the project. It discusses the increasing budget devoted to outside innovation by large companies around the world and highlights the need for innovation projects needed to generate money-making products and services. This chapter also explains that OI projects vary over the course of product and service development and that leaders have the very challenging task of defining needed knowledge and bringing knowledge-holders together across complicated organizational structures.
Keywords: open innovation, Siemens AG, smart people, budget, money-making products, money-making services, knowledge-holders, organizational structures
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