%0 Journal Article %J Technology Innovation Management Review %D 2016 %T Weighing the Pros and Cons of Engaging in Open Innovation %A André Ullrich %A Gergana Vladova %K benefits %K entrepreneurship %K Open innovation %K open innovation participation %K risks %K self-assessment tool %K SMEs %X The positive aspects of open innovation projects are widely discussed in innovation management research and practice by means of case studies and best practices. However, enterprises, particularly small and medium-sized enterprises (SMEs) also face miscellaneous challenges in open innovation practice, leading to uncertainty and even renunciation of open innovation project participation. Thus, it is essential for SMEs to find the right balance between possible positive effects and negative consequences – the latter being the less studied “dark sides” of open innovation. However, appropriate methods of finding this balance are still lacking. In this article, we discuss the assessment of open innovation project participation by presenting a weighing and decision process framework as a conceivable solution approach. The framework includes an internal, external, and integrated analysis as well as a recommendation and decision phase. Piece by piece, we investigate the current situation and the innovation goals of the enterprise as an initial point for a decision for or against engaging in open innovation. Furthermore, we discuss the development of a software tool that automatically applies this framework and allows self-assessment by SMEs. %B Technology Innovation Management Review %I Talent First Network %C Ottawa %V 6 %P 34-40 %8 04/2016 %G eng %U http://timreview.ca/article/980 %N 4 %1 University of Potsdam André Ullrich has worked as a Research Assistant and a PhD Candidate at the Chair of Business Informatics with an emphasis on Processes and Systems at the University of Potsdam, Germany, since graduating there with a Diploma in Business Administration in 2011. Currently, his research interests are open innovation processes, employee qualification, the performance capability of indicators for assessing organizations, and change capability research. Furthermore, he continuously moderates creativity workshops regarding turbulences in business environments. He has published several national and international articles in the research areas of change capability, creativity techniques, seasonality’s, and employee qualification. %2 University of Potsdam Gergana Vladova is a Research Assistant and a PhD Candidate at the Chair of Business Informatics with an emphasis on Processes and Systems at the University of Potsdam, Germany. She holds a Master's degree in International Economic Relations from the University of National and World Economy in Sofia, Bulgaria, and a Magister degree from the Freie Universitît Berlin, Germany. She has been working within diverse research projects, and she lectures graduate courses and seminars in the field of knowledge management. Her main fields of research are corporate communication and culture, knowledge management, product counterfeiting, and open innovation management. %R http://doi.org/10.22215/timreview/980