Open innovation strategy as a determinant of sustainable enterprise competitiveness

Abstract

In order for enterprises to be successful in their field, they must have an adequately defined and implemented innovation strategy. In today's business practice, enterprises that do not do this, run the risk of lagging behind their competitors. It is also important to define an effective open innovation strategy that will contribute to a greater competitive advantage of the enterprise. There are no generalized strategies that enterprises can implement, but guidelines that enterprises must follow and adapt to their own characteristics, strengths and weaknesses are given. The aim of this paper is to highlight the importance of accepting the model of open innovation for modern companies in order to achieve sustainable competitiveness of an enterprise.