Leveraging Open Innovation for Sustainable Growth in the Digital Era

Abstract

The chapter delves into the intricate interplay between open innovation, sustainability, and digital transformation within the contemporary business landscape. By exploring the principles that integrate open innovation with digital advancements, the chapter aims to elucidate how this fusion propels sustainable business growth and nurtures resilient innovation ecosystems. It traces the evolution of open innovation, emphasizing the shift towards collaborative models. The examination extends to the role of digital technologies, such as big data, artificial intelligence (AI), and the internet of things (IoT), in enhancing open innovation practices. By scrutinizing the alignment of open innovation with sustainability goals, the chapter underscores the significance of fostering economic, social, and environmental benefits. Key insights into execution encompass strategic planning and implementation in the digital context, encapsulating challenges, best practices, and success metrics.