Exploring management buy-ins and open innovation dynamics: current trends and future directions

Abstract

Purpose: This paper explores the intersection of Management Buyouts (MBOs), Management Buy-ins (MBIs), and Open Innovation (OI). While MBOs have been associated with innovation in numerous studies, MBIs and their role in fostering OI remain underexplored, especially in the context of small and medium-sized enterprises (SMEs)., Design/methodology/approach: A Bibliometric-Systematic Literature Review (B-SLR) was conducted, analyzing 89 peer-reviewed articles from Scopus and Web of Science (1989–2022). Keyword co-occurrence analysis identified thematic clusters, including governance reforms, leadership entrepreneurship, and strategic partnerships, as critical enablers of OI in MBOs and MBIs. Findings: The study highlights research directions, such as OI mechanisms, cross-industry comparisons, and performance evaluation frameworks. It underscores the differences in innovation outputs and organizational resilience between MBOs and MBIs, suggesting tailored strategies to optimize OI adoption. Research limitations/implications: The study is limited to literature from Scopus and Web of Science and focuses on conceptual frameworks rather than empirical testing. Future research should explore sector-specific dynamics and long-term innovation outcomes. Practical implications: MBO/MBI managers can leverage the insights to foster OI, address innovation barriers, and build resilient businesses by adopting strategic partnerships and effective governance structures. Social implications: The research highlights the potential of MBOs/MBIs to drive innovation and economic growth in SMEs, particularly in industries requiring collaborative innovation strategies. Originality/value: This study fills a significant gap by connecting MBIs to OI, offering a conceptual framework and a research agenda that align buyout strategies with sustainable innovation practices.