The article explores how service companies can improve their performance by being open to innovation from both inside and outside sources. The researchers looked at data from a survey on technological innovation to see how companies' openness to innovation and their efforts in developing new ideas relate to their success. They found that companies that are more open to innovation tend to perform better. Additionally, being owned by a foreign company or being part of a larger corporate group had the biggest impact on financial performance in the service sector. This study shows that being open to new ideas can help service companies do better in terms of innovation and financial success.