JOURNAL OF STRATEGIC INNOVATION AND SUSTAINABILITY
Open Innovation as Means of Building Social Capital: A Way to Globalization for Traditional SMEs
Author(s): Jenny Oliveros Lao Phillips
Citation: Jenny Oliveros Lao Phillips, (2018) "Open Innovation as Means of Building Social Capital: A Way to Globalization for Traditional SMEs," Journal of Strategic Innovation and Sustainability, Vol. 13, Iss. 2, pp. 115-126
Article Type: Research paper
Publisher: North American Business Press
This research explores innovation of traditional SMEs that do not actively invest in innovation. Elements of open innovation have been identified in these firms in their effort to build social capital which they perceive as pertinent to their businesses. The result of the research shows that instead of using social capital as means for innovation, the unintentional practice of open innovation has contributed to the development of social capital, which further opens up potential for globalization. As a result, a model of open innovation as means of developing social capital for enhancing globalization potential for SMEs was developed.