Co‐innovation: convergenomics, collaboration, and co‐creation for organizational values

Purpose The aim of this paper is to present a macro view of the evolution of innovation for value creation, from the closed to collaborative, open, and now co‐innovation. It reviews several mega trends that have dramatically changed the dynamic nature of the global market place and also several new forces that have made innovation imperative for organizational value creation. Design/methodology/approach The paper provides a conceptual overview of co‐innovation through some of its basic elements such as convergence revolution, collaboration, and co‐creation with stakeholders. Findings Co‐innovation is a new innovation paradigm where new ideas and approaches from various internal and external sources are…