Management based on open innovation

How Managers Grow Their Business by Collaborating with Competitors
This article examines innovative managers in international business, focusing on their impact, recent research, and real-world examples of success and change in global markets.

Introduction:
Open Innovation refers to the process in which managers and companies, rather than protecting their own ideas, share them with other companies and even competitors to capitalize on joint innovations.

Features of Open Innovation in International Business:
• Connecting with Global Partners: Collaborating with different companies to gain new ideas
• Faster Growth: By using global experiences, you can quickly enter new markets
• Strengthening Internal Teams: Increasing the capacities of internal teams by using external resources

Example:
By participating in open innovation projects, IBM has been able to help develop its technologies rapidly by creating innovative platforms. These partnerships have led to the rapid expansion of the company’s products in international markets.

The Impact of Open Innovation on IBM’s International Growth
Year Global Revenue ($Billion) Number of Open Innovation Projects Growth Percentage in New Markets

Company Revenue Year 2018
Percentage Growth in New Markets 12%
Number of Open Innovation Projects 79.12

Company Revenue Year 2019
Percentage Growth in New Markets 18%
Number of Open Innovation Projects 81.35

Company Revenue Year 2020
Percentage Growth in New Markets 22%
Number of Open Innovation Projects 85.42

Conclusion:
Open innovation is a key strategy for managers at the international level. Leveraging global capabilities to develop products and expand markets can lead to significant success.