A Closed Innovation Approach Generates Ideas In-House and Sees Them

question 4

Essay

A closed innovation approach generates ideas in-house and sees them through production, marketing, and distribution. Write a short essay that contrasts this approach with "open innovation," including two detailed examples that illustrate your answer.

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Definitions:

Ampullae

Small bulbous expansions of fluid-filled tubes, particularly in the sensory systems of certain animals, like the lateral line system of fish or the balance organs of the inner ear in vertebrates.

Receptor Potential

The change in membrane potential by a sensory receptor in response to a stimulus.

Action Potential

This is a temporary reversal of electrical polarization of the membrane in neurons and muscle cells, allowing for the transmission of signals.

Stimulus Transduced

The conversion of a stimulus from the environment into a form that can be processed by the nervous system.