【正文】 ing in the right direction. This requires repeated experimentation in which the firm pursues new sources of revenue and business value and collects critical information from the market about the potential value of those ideas and technologies. The results then bolster the shift toward the new approach. At Pamp。G, its stock had fallen in half and a new CEO had been brought in. Air Products did not face the brutal financial adjustments that IBM and Pamp。G is also getting money from licensing its technologies to other firms. The bination of leveraged cost and time savings with new revenue opportunities confers powerful advantages for panies willing to open their business models. (See ―The New Business Model of Open Innovation,‖ p. 27.) The development costs of innovation are reduced by the greater use of external technology in a firm‘s own Ramp。G developed Pringles Print at a fraction of the cost and brought it to market in half the time than it would have taken had the pany done all the work internally. Open business models also attack the revenue side. Pamp。G‘s 6 Pringles Print initiative, through which the pany now offers Pringles with pictures and words printed on each chip. To bring that product to market, Pamp。G estimates that its Always brand of feminine hygiene pads, which cost $10 million to develop a decade ago, would set the pany back anywhere from $20 million to $50 million today, according to Jeff Weedman, who is responsible for external business development at Pamp。G brands. With early successes like the Crest SpinBrush, Olay Regenerist and Swiffer Dusters, Pamp。 and Chicago, the musical stage show and movie. This assortment might appear to be random, but they all have something in mon: Each required an open business model in which an idea traveled from invention to mercialization through at least two different panies, with the different parties involved dividing the work of innovation. Through the process, ideas and technologies were bought, sold, licensed or otherwise transferred, changing hands at least once in their journey to market. Qualm used to make its own cell phones and base stations but ceased doing so years Now others manufacture those products, and Qualm just makes chips and sells licenses to its technologies, period. In fact, every phone that uses its technology is sold by a customer of Qualm, not by the pany itself. Genzyme licenses technology from the outside and then develops it inhouse. The pany has turned these external ideas into an array of novel therapies that deliver important cures for previously untreatable rare diseases. It has also built an impressive financial record in an industry in which profits have been difficult to Procter amp。 The Procter amp。畢業(yè)論文 Ⅲ .外文翻譯 畢業(yè)論文 Ⅲ － 1 外文翻譯之一 Why panies should have open business models 作者 ： Henry Chesbrough 國籍： American 出處： Sloan Management Review, Winter 2020, 48 (2): 2228 原文正文： Innovation is being an increasingly open process thanks to a growing division of labor. One pany develops a novel idea but does not bring it to market. Instead, the pany decides to partner with or sell the idea to another party, which then mercializes it. To get the most out of this new system of innovation, panies must open their business models by actively searching for and exploiting outside ideas and by allowing unused internal technologies to flow to the outside, where other firms can unlock their latent economic potential. Let‘s be clear about what is meant by the term business model. In essence, a business model performs two important functions: It creates value, and it captures a portion of that value. The first function requires the defining of a series of activities (from raw materials through to the final customer) that will yield a new product or service, with value being added throughout the various activities. The second function requires the establishing of a unique resource, asset or position within that series of activities in which the firm enjoys a petitive advantage. Open business models enable an anization to be more effective in creating as well as capturing value. They help create value by leveraging many more ideas because of their inclusion of a variety of external concepts. They also allow greater value capture by utilizing a firm‘s key asset, resource or position not only in that anization‘s own operations but also in other panies‘ businesses. To appreciate the potential of this new approach, consider the following names: Qualm Inc., the maker of cellular phone technology。 Genzyme Corp., a 畢業(yè)論文 Ⅲ － 2 biotechnology pany。 Gamble Co., a consumer products corporation。 Gamble has rejuvenated its growth through a program called Connect and Develop, which licenses or acquires products from other panies and brings them to market as Pamp。G now actively seeks external ideas and technologies through an extensive work of scouts. Chicago, the oftenrevived musical, emerged out of a creative extension of a play written decades ago that had gone out of Others saw the latent value within the work and revived it multiple times to yield a prizewinning show. And each time the show was revived, it was done by a different owner. A recent revival turned into an Academy Award –winning movie in 2020. If these ideas were so valuable, then the obvious question is: Why didn‘t the 畢業(yè)論文 Ⅲ － 3 original owners figure out the best way to take them to market on their own? The answer goes to the very heart of why markets for innovation are so important. Different panies possess different assets, resources and market positions, and each has a unique Because of that, panies look at opportunities differently. They will quickly recognize ideas that fit the pattern