Three new business models for “the open firm”

Purpose – The authors found that as more firms participate in open business ecosystems, the borders between an individual firm and its stakeholders – customers, suppliers, workers, partners and innovators – have become much more permeable and reconfigurable. This paper aims to address this issue.Design/methodology/approach – The paper shows how new open business models enable firms to maximize the benefits of openness while limiting the risks.Findings – The authors propose three “open firm” models based on their research, experience and observation: the harbor and fleet; the demand forum; and multivalent sourcing.Research limitations/implications – Case studies are provided. For example, the supply chain tracing firm Historic Futures has developed an online application called String that enables participating companies to monitor products hour by hour and mile by mile along the supply chain.Practical implications – The ability to establish and maintain appropriate networks is central to the success of ope...