Open innovation of James Watt and Steve Jobs: Insights for sustainability of economic growth

Abstract

This paper analyzes open innovation approach similarities and differences of JamesWatt and Steve Jobs-symbolic entrepreneurs of the First and Fourth Industrial Revolutions, respectively. The methodologic approach includes a review of the literature. Firstly, the key characteristics of the First and Fourth Industrial Revolutions are determined by comprehensively reviewing the literature-particularly books on both legendary innovation entrepreneurs. Secondly, the related preceding research that describes open innovation characteristics that James Watt and Steve Jobs possessed are critically analyzed. Thirdly, open innovation strategies promoted by the two innovation entrepreneurs are scrutinized by analyzing the related literature. The findings reveal the common and differing points of the two entrepreneurs' open innovation strategies and approaches. This paper serves as an editorial piece and introduces the special issue entitled 'Sustainability of Economic Growth: Combining Technology, Market, and Society', where the special issue contains 19 papers directly related to the open innovation strategy of Steve Jobs and JamesWatt. © 2018 by the authors.