International Business of SMEs: The Role of Open Innovation and Dynamic Capacities

By Denis Remon

English

Open innovation demands down-to-earth dynamic capabilities to reduce risks related to international business development. The literature on dynamic capabilities, open innovation, and international business development is still in its infancy. In our case study, we have found that dynamic capabilities are inescapable if one wants to succeed in an open innovation project. Our results suggest that these capabilities go from tacit knowledge to explicit duties. Also, to succeed at the local and regional level might be much harder than succeeding at the international level for business. There are more asymmetries than one might imagine. Whatever the case, trust, reliability, and transparent communication are premium assets.
JEL Codes: D23, D82, M16, D81

Keywords

  • open innovation
  • dynamic capacities
  • business international
  • SME
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