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Before any organization can reap the economic benefits of open innovation, it must overcome a number of legal, operational and cultural challenges. In this article Peter von Dyck addresses the top three obstacles to open innovation: managing intellectual property issues and other legal risks, processing ideas quickly and establishing an efficient internal structure.
Because of today’s business hype for innovation we encounter situations where there can be too much of a good thing going on and successful companies tend to be aware of this potential pitfall. As much as a complete lack of innovation will lead to failure in an organization, left unmanaged, too many innovative ideas can cloud the judgement on which ideas are truly great. Innovation management therefore is crucial in the success of any organisation.
Maintaining a safe workplace is obviously very important if you want to avoid costly accidents and injuries on the job, but it has several other benefits as well. In this article, Tom Reddon highlights a few reasons why keeping a safe workplace makes good business sense.
Innovation portals have taken an important place in the open innovation landscape. Expectations are great in portal performance but often, for purely budgetary reasons, these portals are launched and managed internally by corporates themselves, to discover that they generate a number of community management issues that they are not used to coping with. Prior to launching a corporate portal it is a good idea to ask a few specific questions on whether to do this internally or through experienced third party innovation providers. Using external resources can often avoid pitfalls and align the portal success rate to corporate expectations, objectives and ambitions. Here six questions are asked that can help you take the decision whether to launch a managed portal internally or externally.
As business leaders seek additional impact from Innovation Programs, new ways to leverage and scale existing resources are being explored. One approach is to link externally sourced ideas with networks of innovation-minded employees, to generate additional business impact.
Agile Innovation is an execution-based model, not a control-based model. This means that the focus is on what you do (execution) rather than on what you are instructed to do. Hence, this approach requires inner motivation, and it’s not going to thrive in environments characterized by extrinsic, hierarchical, or fear-based motivational schemes. In this final excerpt from Agile Innovation, Langdon Morris discusses approaches necessary to transform organizations to achieve innovation actions and outcomes.
The world is changing, yet people constantly assume, incorrectly, that tomorrow will be like yesterday. When business leaders make this mistake, the outcomes are generally bad because opportunities are lost. Competitive advantage is gained with the ability to transform insights into useful innovations by seeing the unseen. In this chapter excerpt of Agile Innovation, Langdon Morris explains how ethnography drives better innovation at a top-five U.S. financial services company.
Many innovation leaders tend to be tactically driven, but their corporate leadership is looking for more strategic planning and analysis. This tension often contributes to high turnover in innovation management roles, based on a misalignment around leadership’s expectations. In this article Anthony Ferrier suggests perspectives and actions that should be considered part of your innovation strategy plan.
The essence of agility is the ability to respond to new and different conditions. You cannot continue repeating the same old operating formula long beyond its utility or you will be left behind. Are you prepared to adapt to the profuse variety of new circumstances with new tactics and strategies? The principles of Agile that we examine in the next three chapter excerpts of Agile Innovation will help you understand what you need to do.
The four simple axioms in the “The Manifesto for Agile Software Development” express the core values for getting work done efficiently. In the last chapter excerpt of Agile Innovation we looked at individuals and interactions as well how to create a rapid working prototype. Today we’ll continue discussing the next elements: collaboration and carrying out change in a corporate setting.