Published : 2017-08-30

A Shift from a Closed to an Open Innovation Model: A Case Study of ICICI Bank

Paweł Mielcarek



Abstract

The aim of this article is to present factors affecting the transformation from a closed to an open innovation model undertaken by the Indian Bank ICICI. The case study covers the period from 2000 to 2016. The first part is devoted to describing the Indian bank sector and the reasons why the ICICI Bank decided to undertake this strategic shift. The second part presents practical aspects of developing service innovations by means of accessing third party resources. The bank managed to achieve success in an unfavourable environment by focusing on creating added value for customers, implementing up-to-date ICT and tapping resources of other entities. The strategic shift to an open innovation was possible by renewing the bank's business model in order to adapt it to the changing and discontinuous environment.(original abstract)

Keywords:

Innovations, Open innovation, Banks, Case study



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Mielcarek, P. (2017). A Shift from a Closed to an Open Innovation Model: A Case Study of ICICI Bank. Zeszyty Naukowe Wyższej Szkoły Bankowej W Poznaniu, 75(4). Retrieved from https://journals.wsb.poznan.pl/index.php/znwsb/article/view/810

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Uniwersytet WSB Merito w Poznaniu
ul. Powstańców Wielkopolskich 5
61-895 Poznań
e-mail: journals@poznan.merito.pl
University
Uniwersytet WSB Merito w Poznaniu / WSB Merito University
ul. Powstańców Wielkopolskich 5
61-895 Poznań

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