a new breed of innovation—open innovation—is forcing firms to reassess their leadership positions, which reflect the performance outcomes of their business strategies. It is timely to juxtapose some new phenomena in innovation with the traditional academic view of business strategy. More specifically,we wish to examine the increasing adoption of more open approaches to innovation, and see how well this adoption can be explained with theories of business strategy. In our view, open innovation is creating new empirical phenomena that exist uneasily