Open Innovation in Family Firms

The purpose of this work is to investigate how two different and simultaneously active generations influence the Open Innovation activities in family businesses. First, a literature review on the topics of family firms, generations in family firms and Open Innovation is conducted. Furthermore, the combination of these topics, as far as possible is investigated. Afterwards the methodology used for the case study is described, with a detailed characterization of the sample. Subsequently, a qualitative study is conducted, via semi- structured interviews with family members and non-family members, who are responsible for the Open Innovation activities in the studied companies. Due to these interviews new insights about the influence of multiple generations in family firms on Open Innovation should be gained. Moreover practical insights can be compared to the theoretical assumptions of the literature review. The study reveals that Open Innovation is definitely fostered by two simultaneously active generations in family firms. Typical boundaries for undertaking Open Innovation activities are the financial restrictions and the often unknown possibilities of Open Innovation.