Open innovation crowd sourcing methods, when applied to the right problem, can effectively extend the solution provider search beyond the boundaries of an industry. This article presents the application of a targeted broadcast crowd sourcing method to identify unobvious solution providers for a German chain-drive industry consortium. The majority of solutions submitted through this method were previously unknown to the consortium. This evaluation demonstrates the power of open crowd sourcing to provide solutions from discontinuous industries and how effective crowd sourcing can be in open innovation.
This year, a very interesting trend in collaborative innovation can be observed in Central Europe: The once distinct concepts of “Enterprise 2.0” and “Open Innovation” are merging. Firms are taking a holistic view on collaborative innovation and put the question about whether collaborative innovation should happen primarily within the firm’s walls or with externals out of the focus.
Previously, we told you about a research project where we examined more than 60 companies considered to be vanguards in their respective fields. From this group emerged five “serial innovators:” companies that habitually detect where markets are going, and use innovation to meet new customer demand. These companies share a handful of characteristics, the first of which is leadership’s empowerment of innovation, which we addressed in depth last month. The second of these shared characteristics: They leverage interest networks.
Before any company attempts to leverage existing external networks for its open innovation initiatives, it must understand the existing levels of engagement in them and the various levels at which it can participate. This is important knowledge that will help a company develop the right tactics to get the most out of a network strategy.
As digital technology pervades the physical world, the principles of scale are changing in a profound way. Ordinary people armed with smartphones are becoming hackers, co-creating their experiences with marketers. Products themselves are becoming services. Supply chains are giving way to demand chains. Consumers want to be able to combine different offerings to create new mashups and solutions. This is what author Greg Satell calls “The Internet of Things.”
This article shows how biomimicry can be put to effective use in designing innovative networks. It builds from similarities between the brain connectome and innovation networks to lead to a novel concept in innovation – Neuronal Innovation. This new concept shows how organizations can become proficient in deploying and using collaborative innovation.
In the 10 years since Henry Chesbrough published his groundbreaking book on Open Innovation, a lot has happened. Almost any firm claims to do Open Innovation. However, if you look closely, most of the firms do not do true Open Innovation – they are merely running a multitude of open approaches to innovation. This article explains the fundamental differences between “Open Innovation” and true Open Innovation, provides data where firms are standing on their journey to true Open Innovation and gives some hints on what your firm should do in order to take the next step.
June 7, 2012 | By: Chuck Frey | In:
Most innovators understand what serendipity is. Dictionary.com calls it “an aptitude for making desirable discoveries by accident.” But have you ever heard of serendipitous network intelligence?
Experience and research tell us five key success principles are seen across the cultures of ‘serial innovators.’ The good news: These characteristics can be adapted for any company, regardless of industry.
April 11, 2012 | By: Chuck Frey | In:
Networking involves utilizing our connections to reach the solutions we seek. Do you and your company fully utilize your networks to help solve your challenges?
Serial entrepreneur and investor Reid Hoffman encourages individuals to become the entrepreneurs of their own lives. Hoffman shares the importance of taking intelligent risks, building thoughtful networks and continually adapting your skills to navigate a fulfilling career path.
Kauffman Foundation Senior Fellow Ted Zoller challenges Stanford students to engage in entrepreneurship as a practice of action. Based on his research into dealmaker density and network development, Zoller details the power of seizing opportunities and the pathways to developing an entrepreneurial career.
The University of Cambridge has partnered up with global pharmaceutical company Eli Lilly and Company in an active collaboration programme helping to find and develop potential new medicines, particularly in the areas of greatest need. Gianluigi Cuccureddu comments on the challenges and possibilities of the initiative.
In this IM Channel One webinar we look at how innovation life cycle processes and structures can be put in place to motivate, manage and move thousands of people into next generation innovation communities. The experts at Induct share important findings from their last three years of studies and research projects from innovation practice.
How do you prepare to overcome the implementation barriers in an open innovation environment? What types of issues need to be considered? How can you prevent fear of violated IPR issues becoming show-stoppers in your open innovation process? And how can common pitfalls be avoided? These are some of the challenges covered in this IM Channel One webinar.