Why Innovation’s Future Isn’t (Just) Open

Forging partnerships and investing in startups for new technologies can help companies catch up with rivals, but it doesn’t always give them a competitive advantage. Most would do better to rethink their innovation systems. They must treat external innovation as a way of balancing and broadening their portfolios, not as a substitute for internal innovation. Only then will they be able to execute the transformations that will allow them to win the digital future.