Open innovation to enhance core technological competences: The impact of similar and complementary knowledge and expertise

Abstract

Purpose

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

Firms need to be competent in different core technological areas to innovate and remain competitive. External knowledge and expertise through M&A can help supplement current capabilities. Companies should ideally choose target firms who are able to offer related yet new knowledge and expertise. This enables the acquiring firm to develop enhanced core and new core areas where capabilities are respectively limited or non-existent. Such arrangements have minimal value in existing core areas where the acquiring firm is already strong.

Practical implications

The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Citation

(2017), "Open innovation to enhance core technological competences: The impact of similar and complementary knowledge and expertise", Strategic Direction, Vol. 33 No. 11, pp. 29-31. https://doi.org/10.1108/SD-08-2017-0130