Identifying and Explaining Open Innovation Strategies in Banking ICT SMEs

Abstract

Studies show that Banking services should take the open innovation approach and Customizing Services. In fact, organizations like banks need to work with their service developers to accelerate the process of innovation in their organization. Studies show that small and medium enterprises have increasingly considered the open innovation approach because of their specific characteristics. On the other hand, Studies show that open innovation strategies can vary based on the internal and external characteristics of each organization. In this research, by studying the researches carried out so far, all identified strategies for innovation have been collected, aggregated, and presented in various perspectives. The present study aims to fill the research gap with a multi-case study based on the qualitative approach and seeks identify and explain open innovation strategies in Banking ICT small and medium enterprises. Purposeful sampling was used to select the sample and identify the study items. Seven small and medium enterprises that have had an open innovation experience were identified and interviewed with their respective managers. The results of this research provide clear evidences for the adoption of various and diverse open innovation strategies among the field of Banking ICT small and medium enterprises in Iran.

Keywords

• open innovation strategies
• modern banking
• small and enterprises
• banking it field