Please Define the Following Key Terms

question 61

Essay

Please define the following key terms. Show Who? What? Where? When? Why Important?
-holy Mondays

---

Definitions:

Open Innovation

The use of web-enabled input from external sources to facilitate innovation.

Intensive Collaboration

A deeply cooperative effort involving close and sustained interaction among participants to achieve a common goal.

External Parties

Individuals or organizations outside of an organization who can be affected by its activities or who can impact the organization's performance.

Open Innovation

A business model that encourages companies to both use external ideas and inventions in their own business practices and allow their unused internal ideas to be used by other organizations.