Abstract:
Nowadays, increasing competition leads companies to develop new approaches and use new strategies in order to differentiate themselves. The increasing need for usage of knowledge source has made information outside information sources as important as inside information sources to gain competitive advantage. As collaborative approaches and value creation stand out, the term "open innovation" increased its importance. The number of companies that adopted open innovation approach is increasing day by day and companies use outside information as well as inside information to create ideas. In this study, the term "open innovation" is explicated and the contribution of open innovation to company success is discussed by giving examples of companies that use open innovation approach. Accordingly, when properly designed, open innovation stands out as a tool that provides positive outputs for various industries.

Keywords: open innovation, usage of open innovation, examples of open innovation.

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