Open innovation is a term created by Henry Chesbrough. Henry Chesbrough is a processor and executive director. He works at Berkeley. The concept of open innovation was shared with the world in Chesbrough’s book. In the book user innovation, distributed innovation, and cumulative innovation are discussed. Open innovation according to Chesbrough is a paradigm that assumes firms can and should use external and internal ideas regarding innovation.
The boundaries have changed when it comes to businesses and their environments. It is this change that requires open innovation so that the world has more say in the products. Companies that use open innovation are able to use research from other sources rather than rely on their own innovative ideas. The concept can help create better products.