Question

___ means extending the search for and commercialization of new products beyond the boundaries of an organization and even beyond the boundaries of an industry.

a) Open innovation
b) Closed innovation
c) Incremental innovation
d) Radical innovation

Answer 1

Open innovation means extending the search for and commercialization of new products beyond the boundaries of an organization and even beyond the boundaries of an industry.

Step-by-step explanation:

Open innovation means extending the search for and commercialization of new products beyond the boundaries of an organization and even beyond the boundaries of an industry. It is a collaborative approach to innovation that involves seeking ideas and concepts from external sources such as customers, suppliers, and other organizations. Open innovation allows organizations to tap into a wider pool of knowledge and expertise, leading to the development of more innovative products and solutions.