SEP5848 - Integrated Innovation and Technology Management (2019)

Open Innovation is the use of purposive inflows and outflows of knowledge to accelerate internal innovation, and expand the markets for external use of innovation, respectively (CHESBROUGH, H. Open Innovation: a New Paradigm for Understanding Industrial Innovation. In: Open Innovation: Researching a New Paradigm p.1)

Operational capability is a high-level routine (or collection of routines) that, together with its implementing input flows, confers upon an organization's management a set of decision options for producing significant outputs of a particular type (Winter, 2000)

An occasion or situation that makes it possible to do something that you want to do or have to do, or the possibility of doing something.

https://dictionary.cambridge.org/dictionary/english/opportunity

A time or set of circumstances that makes it possible to do something.

https://www.lexico.com/en/definition/opportunity

Exploitable set of circumstances with uncertain outcome, requiring commitment of resources and involving exposure to risk.

Read more: http://www.businessdictionary.com/definition/opportunity.html

Ordinary capabilities involve the performance of administrative, operational, and governance-related functions that are (technically) necessary to accomplish tasks.

Teece, D. J. (2014). The foundations of enterprise performance: Dynamic and ordinary capabilities in an (economic) theory of firms. Academy of management perspectives, 28(4), 328-352.

Ordinary capabilities are like best practices. They typically start in one or two companies and spread to the entire industry.

https://www.strategy-business.com/article/00225?gko=32b8d