In Turbulent Times You Need Open Innovation – And Collaboration Skills

In challenging times and shifting markets the natural instinct of many is to focus on what they can control and the attention inevitably turns to rest on the internal and the concrete. However – research published by International Journal of Innovation Management shows that it is a collaborative and open approach that is the most effective way to innovate in turbulent times. The question we ask is, do people have the collaboration skills to build increasingly valuable and difficult to replace, partners and allies?

In their 2011 paper ‘Open Innovation And Its Effectiveness To Embrace Turbulent Environments’, its authors conduct a review of related innovation literature and publish their own research into the best kind of innovation methods and processes for fast moving highly challenging industries. In stable markets, where there are relative constant factors and the business has a strong competitive advantage –  it may still be suitable to take a resource-based perspective on innovation, focusing efforts on internal capabilities, skills and knowledge. And in fast changing, non-technological markets it makes sense to concentrate upon dynamic capabilities – an ability to move quickly, change processes and seize new opportunities.

However – in turbulent markets, which combine both fast changes to the market combined with the challenges of new technology, their research points to open innovation and collaboration as being most crucial.

Read full article » andrewarmour.com/2012/09/20…

 

Image: Hand Holding Globe from Shutterstock.com

Ad

STAY CONNECTED

 
Ad