They may refer to Corporate spin-off, a type of corporate transaction forming a new company or entity; Government spin-off, civilian goods which are the result of military or governmental research; Research spin-off, a company founded on the findings of a member or by members of a research group at a university; Spin-off (media), the process of deriving new radio programs, television programs, video games, or novels from already existing ones; or Spin-off product, a new product which uses the brand name of another product which already has a well-developed image. In case of a spin-off, a parent company distributes shares of a subsidiary to the parent company's shareholders. The shares are usually distributed on a pro rata basis and the subsidiary becomes a separate company. State law and the rules of the stock exchanges determine whether a company must seek shareholder approval for a spin-off.
Published in Chapter:
Open Innovation Strategies in SMEs: Development of a Business Model
Hakikur Rahman (Ansted University Sustainability Research Institute, Malaysia)
Copyright: © 2022
|Pages: 26
DOI: 10.4018/978-1-7998-4799-1.ch005
Abstract
Open innovation in enterprises has already obtained its acceptance at all levels of the business industry for adding worth to the business. The value could be in the form of economic expanse or enhancement of knowledge leading to a sustained financial base. Open innovation adopts various strategies to accomplish the task for enhancing the value gain. Varying by size, nature, pattern, or characteristics of the firm, various strategies are being adopted by enterprises. Though largely known to be familiar in corporate business houses, in recent years, open innovation is also becoming increasingly recognizable in small and medium enterprises (SMEs), and the trend is rapidly escalating. However, despite the potency of open innovation strategies, most of the enterprises are yet to find a sustained business model, especially for the SMEs working at the outmost periphery of that value chain. This chapter is trying to formulate a business model incorporating partnership approach from academia, research houses, intermediaries, practitioners, and other stakeholders.