Successful Open Innovation Strategies
For multinational companies, cooperation with external partners is crucial for the development of new technologies and innovations. They are therefore increasingly pursuing an open innovation strategy and building up a portfolio of alliances with other companies. Why are some multinational companies more successful in such open innovation strategies than others? This research question was addressed by Professor Dr. Dries Faems, who currently holds the Chair of Entrepreneurship, Innovation and Technological Transformation at WHU - Otto Beisheim School of Management. Together with Brenda Bos, Florian Noseleit (University of Groningen) and Bart Leten (Katholieke Universiteit Leuven), he examined the alliance activities of 2,258 R&D subsidiaries belonging to 118 multinational firms in the pharmaceutical industry. The results of this study have been recently published in the Journal of Management.