Access to information of a firm or government agency was never a thought in the past. “Openness” was never counted as an integral or important part of organizational growth. In fact hiding the information about the company and its operations was considered to be safe. However, in recent times, transparency has not only become an important but also innovative factor to excel in the market.
The first crucial aspect of radical openness is transparency. While secrecy and keeping the information opaque to the customers have been in practice of business behavior in the past, maintaining and defending secrets is costly and difficult in this period where there is a chance of ...view middle of the document...
In todays world the pace of innovation and technological progress is such that the companies cannot solely rely on it’s employees. To compete with their peers, companies should get world’s best innovators into picture. This can be achieved by keeping their boundaries more porous, flexible and open. Creating an open platform brings the best outcomes.
However in order to make this possible, there should be a set of standards mentioned else the company might end up giving away its most priced possession, data. No other example other than Microsoft’s where kinect hardware issue can explain this.
* Why sharing makes good Business Sense: This states that sharing of data can do more good than bad, which was a myth in the past. It has become very evident that a rigid approach of protecting intellectual property can sometimes cripple rather than enhance an organization’s ability to innovate and create value. This means that the companies place their intellectual assets in commons where more number of companies and individuals can use those assets to create more value.
While sharing data, not only with whom the data is being shared but also what data is being shared has to be taken care of. The best example to cite this is GSK Pharmaceuticals. How all the scientists came forward and...