Open Innovation Matrix

The Open Innovation Matrix is a 2x2 matrix used to evaluate and compare the potential of open and closed innovation strategies. It helps companies identify the best approach for their innovation strategy.

At a very high level, the Open Innovation Matrix is used in the context of business, innovation.

Open Innovation Matrix quadrant descriptions, including examples
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What is the Open Innovation Matrix?

A visual explanation is shown in the image above. The Open Innovation Matrix can be described as a matrix with the following quadrants:

  1. Open Innovation: Leveraging external sources of knowledge and ideas, e.g. crowdsourcing
  2. Closed Innovation: Leveraging internal sources of knowledge and ideas, e.g. research and development
  3. Exploitation: Leveraging existing knowledge and ideas, e.g. product line extensions
  4. Exploration: Discovering new knowledge and ideas, e.g. blue-sky thinking

What is the purpose of the Open Innovation Matrix?

The Open Innovation Matrix is a 2x2 matrix used to evaluate and compare the potential of open and closed innovation strategies. It helps companies identify the best approach for their innovation strategy. The matrix is divided into four quadrants, each representing a different approach to innovation.

The top-left quadrant is labeled 'Open Innovation'. This quadrant represents strategies that focus on leveraging external sources of knowledge and ideas. Companies that use open innovation strategies are open to collaboration with external partners and actively seek out new ideas from outside the organization. Examples of open innovation strategies include crowdsourcing, hackathons, and open-source development.

The top-right quadrant is labeled 'Closed Innovation'. This quadrant represents strategies that focus on leveraging internal sources of knowledge and ideas. Companies that use closed innovation strategies are more focused on developing ideas within the organization, and are less likely to collaborate with external partners. Examples of closed innovation strategies include research and development, and internal brainstorming sessions.

The bottom-left quadrant is labeled 'Exploitation'. This quadrant represents strategies that focus on leveraging existing knowledge and ideas. Companies that use exploitation strategies are focused on taking existing ideas and refining them to create new products and services. Examples of exploitation strategies include product line extensions and incremental improvements.

The bottom-right quadrant is labeled 'Exploration'. This quadrant represents strategies that focus on discovering new knowledge and ideas. Companies that use exploration strategies are focused on exploring new ideas and concepts that could lead to new products and services. Examples of exploration strategies include blue-sky thinking and disruptive innovation.


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What templates are related to Open Innovation Matrix?

The following templates can also be categorized as business, innovation and are therefore related to Open Innovation Matrix: Effort Impact Matrix, Gap Analysis Matrix, Growth Share Matrix, Kraljic Matrix, Outsourcing Matrix, Quadrant Analysis, Risk Analysis Matrix, Risk Value Matrix. You can browse them using the menu above.

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