Summary

1. Open Market Innovation as a Means of Improving Student Success & Stakeholder Relationships in Higher Education “Stakeholders are defined as any group or individual who can affect or is affected by the achievement of organizational objectives” (Freeman, 1984) “The firm is significantly responsible for their wellbeing or they hold a moral claim on the firm” (Langtry, 1994) “Passive Stakeholders who have a moral claim on the company not to infringe liberties or inflict harm and active stakeholders those whose claims are more in the nature of welfare rights” (Mahoney, 1994). Dr. Lora Reed, Ashford University ● Dr. Maja Zelihic, Ashford University ● Dr. Alan Swank, Ashford University Dr. Daniel Nation, Ashford University Summary This presentation explores open market innovation as a means of improving higher education in an online undergraduate degree program. Open market innovation is explored as a means of relationship building with students and other stakeholders invested in the success of higher education. The presentation considers lessons learned as the result of a recent program review, as well as the unprecedented technological advancements that impinge upon higher education as a dynamic industry. Process Stakeholders Defined Triangulation of Data (Stakeholders in Process) A Student-centric Approach to Improved student learning outcomes Engagement with stakeholders Relationship Building Gaining Knowledge, Skills, Competencies, and Abilities through Stakeholder Relationships, Collaboration and Data Mining Everyone is a Stakeholder in Higher Education: Diverse Stakeholder Cultures Can Collaborate in Meaningful Relationships, handling trade-offs for common objectives Stakeholder cultures range from Those based on individual self-interest; Those based on advancement of others’ interests; Those in a broadly moral stakeholder culture; Those who ascribe to altruistic, “broadly moral cultures based on concern for the interests of all stakeholders” (Jones, Felps & Bigley, 2007) “a paradigm that assumes firms can and should use external ideas as well as internal ideas, and internal and external paths to market, as the firms look to advance their technology” (Chesborough, 2006) “used as an alternative to purely internal research and development and involves the use of tools such as licensing, joint ventures, strategic alliances and other collaborations to apply existing external solutions to internal challenges” (Reed, et al, 2014). The Working Model References Chesbrough, W. H. (2006) Open innovation: The new imperative for creating and profiting from technology. Boston, MA: Harvard Business School Press. Freeman, R. E. (1984) Strategic management: A stakeholder approach. Boston, MA: Pitman. Friedman, A. L. & Miles, S. (2006) Stakeholders: Theory and practice. Oxford, UK: Oxford University Press. Gilliard, M. (2013) Open market innovation. Retrieved from http://www.innovation-creativity.com/open-market-innovation.html Jones, T. M, Felps, W., & Bigly, G. A. (2007) Ethical theory and stakeholder-related decisions: The role of stakeholder culture. Academy of Management Review, Vol 32, No. 1, 137-155. Langtry, B. (1994) Stakeholders and the moral responsibilities of the firm. Business Ethics Quarterly, 4/4: 431-443. Mahoney, J (1994) Stakeholder responsibilities: Turning the ethical tables. Business Ethics: A European Review, ¾: 31-35. Reed, L., Zelihic, M., Swank, A., & Nation, D. (2014) Open market innovation as a means of improving student success & stakeholder relationships in higher education. Working Manuscript. Open Market Innovation Can stakeholder interaction be enhanced by technology for purposes of improved student learning? Innovations in education are achieved through assessment, constant dialogue with stakeholders and ongoing measurement. Students and other stakeholders become partners in education process and learning outcomes Student learning is enhanced