INFORMATION AND COMMUNICATION

Information and communication

Introduction:

Information and communication technologies are transforming open innovation, and social media in specific is providing organisations a competitive edge to select and deploy carefully. Open innovation is described as "The New Imperative for Creating and Profiting from Technology" (Chesbrough, 2003). Open innovation is a model used to illustrate how nowadays companies exploit and source new technologies, new services and new products. This premise of this research is too mainly describe how social media tools support open innovation, how social media help organisations in a new way to improve their work processes in an enhanced manner, how space and time issues can be bridged, and how different collaborative efforts can be redefined. Community based innovation is a part of an open innovation concept where innovation is done based on customers' need and requirement (Scroll, 2009). This type of innovation helps organisations to reach its customer requirements and enhance its way to develop new products. Innovation has stages like idea generation and development for which they need to congregate information from different sources. Social media enables the entire open innovation process, from idea generation stage and development stage to experimenting and testing, and, finally to the commercialization of the ideas. This information is gathered mostly by using the Information obtained from social media. Rapid advancements in technologies have completely revolutionized the way things are done in this business world. In the open innovation process, organisations use social media tools like Facebook, Twitter, Blogs, Websites and Other tools like LinkedIn, YouTube etc with which organisations will gather all the significant data and then they would plan the new innovation. These mediums like web mediums and other sort of the mediums are used by the organisations for developing new services using open innovation. Faster and powerful information and communication oriented technologies help organisations developing enhanced testing, leverage design and refinement capabilities across a wide assortment of sources so that ideas would be channeled and work would be efficient and effective.

Aims and Objectives

The research aims to explore how social media could assist or enhance the “Open Innovation” process. This is analyzed by perspective of entrepreneurs trying to approach in utilizing open innovation and users who want to benefit from approaching in different organisational sector

In order to achieve this aim, a set of objectives were developed as follows:

Developing fair understanding about open innovation, and social media.

Evaluate and discuss the use of social media and its tools for organisations in open innovation process.

Evaluation of benefits and challenges of Social media and open innovation through Secondary case studies.

To conduct primary research theories from semi-structured interviews and explore the use of open innovation in different organisational context.

Developing conclusions and recommendations on how to enhance the usage of social media in open innovations.

Outline of the thesis

The research has been divided into five chapters, in order to achieve the objectives, it has been ensured that there is apt understanding of open innovation using social media; and to incorporate the journey that this research went ...