Addressing the Business Issues Through Open Innovation Initiatives

Abstract

Many concepts are emerging in the disciplines of management and information and communication technology. One needs to identify the concepts that are useful in designing and developing the business models for addressing the business issues of an enterprise. This chapter gives an overview of the various concepts in the disciplines of management and information technology. In the present business scenario, interdisciplinary concepts are needed to develop business models under open innovation environment. An enterprise has to choose the relevant concepts from the two disciplines as per their requirements in designing business models for their open innovation initiatives.