The effect of open innovation strategies on business models. A multiple case study in the automotive sector

Open innovation allows information to be obtained by a company from outside in, and vice versa, in order to achieve improved relationships and better innovation performance in all parties involved in the business environment. This study explores how the adoption of an open innovation strategy changes the business model, specifically, in the case of small and medium enterprises (SMEs). Previous studies have mainly addressed this topic theoretically, and the original contribution of the approach in the present study stems from providing evidence from real cases. A multiple case study examines four cases in the automotive sector. A number of open innovation strategies are analysed, paying special attention to how they have shaped the company's business model and, ultimately, their impact on company performance. The overreaching conclusion is that the implementation of open innovation strategies helps companies to focus on its strengths and boosts them. This leads to a redefinition of the business model, so that they are better adapted not only to the essence of the companies but also to the demands of the market.