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Open Innovation Essentials for Small and Medium Enterprises by Daniel Satinsky, Phyllis Speser, Adriano La Vopa, Luca Escoffier

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Chapter 6

Conclusion

Phyllis Speser, JD, PhD, RTTP

There is a reason small and medium enterprises (SMEs) are called for-profit companies. Your number one job is to generate profits. Profits get divided up between shareholders, employees, and sometimes contractors, vendors, charities, and others. In short, when there is more money to go around, that is a good thing. So far, we told you nothing that you did not already know.

Hopefully, you have found this book helpful because you realize the tools it describes can be used to make bigger profits. We have presented five tools: (1) crowdsourcing, (2) technology transfer, (3) brokers, (4) auctions, and (5) spin-ups. There are other tools, of course. These are good ones to get started with because ...

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