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The purpose of this paper is to examine the concept of open innovation (OI).

The paper looks at different forms of OI, including suggestive/participative, suggestive/invitational, directed/invitational and directed/participative.

The paper suggests that in choosing which approach to adopt it is important to first define your strategy and identify what you want to get out of OI. It also suggests that OI needs executive level commitment if it is to succeed, as this is generally the first and most important obstacle that companies face in trying to adopt it.

The paper provides useful information on the concept of OI in corporate strategy.

Basing one's business decision on an approach that relies on experience may work sometimes. Experience is a useful part of the process, but it may also lock the decision maker into a method that cannot lead to an innovative solution. An alternative to this experience‐based (linear) way of problem solving is a certain skillful way of thinking known as lateral thinking. This paper aims to present a simple alternative approach to managerial decision making.

Here lateral thinking is defined as methods of thinking concerned with changing concepts and perception. Various tests are suggested that show how it might be measured. These tests were originally developed to identify creative thinking ability. One of these tests is used in an illustrative decision aid to reduce a common decision‐making “bias” labeled “hindsight bias”.

The simple decision aid reduced the hindsight effect for those decision makers who were deemed to be limited in their lateral thinking ability. Those who could already think laterally were not affected by the decision aid. The decision aid was decision‐making neutral for them.

Often, when attempting to improve decision making, the focus is on providing better information or models. Rarely is the cognitive ability of the manager specifically considered. Here, a simple decision aid has been suggested that appears to help managers adopt a different perception of the decision situation. For managers and organizations this is a low cost opportunity to achieve better results.

The study investigates the effect of human capital (HC) on organizational performance (OP) of potential employees. Further, an attempt has been made to develop the fundamental psychological mechanism of the aforementioned relationship by proposing retention (RE) as mediator.

For this study, the required population on both private and public sector professionals of middle and senior-level management from service and manufacturing organizations functioning in various parts of India has been considered. For data collection, a complete set of questionnaires has been prepared and collected from 238 professionals. To study and test the hypotheses, structural equation modeling has also been used.

a complete study on the data collected, it has been found that HC is significantly related with OP of the prospective professionals and RE has subsequently mediated the aforementioned linkage partially.

The present study can suggest practically that the appropriate RE strategies retain HC with their respective organizations and provides in finding the evidence on the psychological processes during the employer procurement process.

paper bridges the disciplines of strategic human resource management and human capital management and brings in RE as an additional mediator into organizational performance.