Switzerland – a tiny country with few natural advantages – has become incredibly successful in the world of banking, pharmaceuticals, machinery, and more. James Breiding, author of the bestselling book, Swiss Made, explores the enabling factors for innovation in Switzerland. He makes the point that when an entrepreneur comes up with a new and innovative method or product, there will be resistance from those who have accepted the status quo. Entrepreneurs as well as intrapreneurs need to have thick skin if they wish to disrupt the market.
What are the differences and similarities on open innovation between B2B and B2C companies? Stefan Lindegaard outlines two differences and four similarities. He also cautions that B2C companies shouldn’t just consider crowdsourcing as their sole open innovation strategy. They need to get more kinds of input than just talking to consumers. The good news for both types of companies is that they can benefit from challenge-driven innovation initiatives, where they would use a third party like InnoCentive or IdeaConnection to help companies connect with “solvers” to help develop fresh insights and solutions.