Exploring open innovation in entrepreneurial private family firms
What is it about?
Four cases of open innovation in private family SMEs in low- and medium-technology industries are considered in order to examine the ways in which family firms can both foster their willingness and use their ability to engage in open innovation activities. Our cases illustrate how family SMEs can successfully engage in open innovation by handling multiple and conflicting goals within the family firm in particular ways and by taking up orchestration roles within their own open innovation networks to minimize concern for the loss of control.
Why is it important?
Prior to this study, we had very little understanding of how private family SMEs can successfully pursue Open Innovation and what factors can explain their success. Our cases have revealed a number of mechanisms family entrepreneurs can use to rise up to the challenges of multiple and potentially conflicting goals in the family firm and family system, the lack of diversity of in-house resources and expertise, and the fear of losing family control.
The following have contributed to this page: Professor Frank Lambrechts and Prof dr Wim Vanhaverbeke