Open innovation typically involves several key practices:
1. Crowdsourcing: Engaging a large group of people, often from outside the company, to generate ideas and solutions. 2. Collaborative Platforms: Using digital platforms to facilitate collaboration among employees, partners, and customers. 3. Co-creation: Working directly with customers or other stakeholders to develop new products or services. 4. Partnerships and Alliances: Forming strategic alliances with other companies, universities, or research institutions to leverage their expertise.