Innovation must become your business routine and corporate culture to renew creative energy. Digital innovation has a broader spectrum and the hybrid nature. It comes in the variety of flavors and there are many opportunities in an enterprise to taste it. The companies who get the most from innovation effort have the right ambition, open leadership, and culture quintessential.
If you’re working with an innovation management platform, then you know the importance of building a community. The success of these programs is intrinsically linked to the spirit and engagement of your community: how much they participate, how they’re participating, why they’re participating.
Lots of industries care about intellectual property and proprietary information, but perhaps none more so than the automotive industry where product development is seen as the competitive edge.
When the Commission for Environmental Cooperation launched a challenge to the youth of North America, they received hundreds of unique, green business proposals. The young entrepreneurs competed for seed funding and came up with some truly disruptive ideas.
In a recent article, The Financial Brand discussed the biggest threats to the financial and banking industry. They included a long list of everything from profitability to making good hiring decisions. However, we thought that there were a few problems that could be particularly fruitful when applied to open innovation systems.
When it comes to implementation there are three things that companies ought to be thinking about in order to maintain a competitive advantage: process, feedback, and the importance of having multiple stakeholders from the beginning. Learn more in this Open Innovation Guide from IdeaScale.
March 29, 2017 | By: InnovationManagement | In:
Connecting an Innovation Workforce with the Corporation, Consumer Base, and Collaborative Ecosystem to Overhaul Open Innovation Strategy As product data and intersecting consumer-market needs evolve alongside society, innovation must follow suit. The idea of Open Innovation has grown from “nice to have” to “need to have,” and continues to be an integral component of new […]
Open innovation is widely used in large companies and we know increasingly more about how to manage this process. In contrast, we know virtually nothing about the managers and practitioners who are driving open innovation in large companies. Who are the managers operating in open innovation teams or units? What is their profile? How long do they stay in an open innovation job, and what is their tenure in the company? This report tries to answer these questions based on an investigation of open innovation managers on LinkedIn.
Organizational innovation requires discipline. And like any other discipline, it requires monitoring and training to make sure that you’re on the cutting edge of your capabilities. But what skills should you focus on building and how can you track your progress?
Often I read articles or books about top-down vs. bottom-up innovation and why one approach would be better than the other. After spending more than five years in the collaborative innovation space, I would advise going hamburger style!
Crowdsourced innovation is a tactic used more and more often by government organizations as well as enterprise corporations. This means that innovation teams need to add a new skill set to their resumé: communications.
What external stakeholder groups can you tap into to build value for your innovation initiatives? Are your relationships with these external stakeholder groups solid or do you need to do additional work to build good, mutually beneficial working relationships? Are there potential stakeholder groups that you have not yet tapped at all? If so, what is your plan for reaching out to organizations within these pools so that you can further expand your innovation ecosystem? Are your channels for communicating with your external stakeholders strong or do they need further work?
Working with external partners to bring better products and services to market faster and/or develop better intellectual property has never been more popular in the world of business than what we see today.
Although ‘open innovation’ is the talk of the town in R&D circles, leveraging external sources of innovation remains challenging for most companies. In 2013, researchers Dr. Joel West (Keck Graduate, Institute of Applied Life Sciences) and Dr. Marcel Bogers (University of Southern Denmark) suggested a four-phase model for inbound innovation projects. They emphasized that open innovation needs to go further than just obtaining external ideas. Integration, commercialization and the interaction between the firm and its collaborators are just as important. This post explores the four essential steps towards open innovation success.
December 15, 2016 | By: InnovationManagement | In:
The 3rd Annual World Open Innovation Conference co-hosted with ESADE in Barcelona, Spain, brings together renowned academic scholars, leading companies and innovators in the Open Innovation space. R&D Management has agreed to provide a Special Issue comprised of the best papers submitted to the conference.