In the current digital arena, social networks have touched the lives of almost every human being on earth, allowing us to share life’s novelties with friends and loved ones. However, social networks are not restricted to sharing and commenting on pictures, but giving rise to innovation among individuals to help make our world a better place.
Imagine if you could listen to the daily conversations of world-class innovation program leaders. How would you use that information to deepen your thinking about innovation and what it takes to really implement it, organization-wide?
Arguably, the principle of Open Innovation was utilised for the first time by Professor James Murray in 19th Century Oxford, England. In the time that has passed since then, this concept has become infinitely easier to implement thanks to the development of Innovation Management technology, however some companies are yet to wake up to its potential.
Few brands use Facebook to crowdsource consumer insights. Those that don’t miss out on the big payoff this social activity can provide. Why aren’t more brands using Facebook to tap consumers for new ideas? Facebook is usually managed by the marketing team, but crowdsourcing initiatives tend to be run by R&D.
Facebook Pages allow businesses and brands to connect with any Facebook users, who must click on “like” button on a Page to access the information provided and to have the ability to make comments on the Page. This makes it an excellent medium to hear the unvarnished opinions of customers, promote your innovation events and network with other practitioners.
While the previous two methods – Netnography and Social Media Solution Scouting – outline the potential of passive methods in using the power of social media for innovation, the next two approaches enable companies to interact with consumers. Configuration Tools as well as Innovation Contests invite users outside the company’s four walls to become an active part of new product development. In part two of this article you will learn how Audi and Henkel empowered the crowd and turned them into co-producers.
Open innovation has found its way into companies’ innovation processes and is a widely used approach to spur collaborative innovation with consumers. A multitude of methods and tools have come into being, creating confusion about how to make the most out of users’ knowledge and creativity. This article provides innovation managers with insights into four popular open innovation practices at four German blue chips and contrasts the various approaches.
Social media is the most recent step humanity has taken in the evolution of communication and has become the most efficient way to advertise our thoughts. Much like our forefathers gathered in a circle discussing the best watering holes and predator spotting, social platforms have become the mutual campfire where ideas and thoughts are shared just as easily.
Booz&Co wrote in their article “The Social Life of Brands” on Strategy+Business that the value of a brand is linked with the relationships it has with its customers, creating and retaining them. For marketing, its fundamental task is managing these relationships. In a recent research by Gallup the results were striking, a 240 percent boost in performance was achieved when both employees and customers were enaged. This is exactly, in a highly technological driven business environment, digital innovation is the catalyst that improves engagement and provide means to manage relationships better, faster and in a cheaper way though digital.
The popular social media channel Twitter can be used at least three ways in support of your organization’s innovation efforts, reports Stefan Lindegaard.
Web 2.0 exponentially increased the transactional nature of the Web, and forever changed the way people express themselves, conduct business, learn about different subjects, shop, form communities, collaborate, and share their personal information. But the embrace of Web 2.0 has also introduced serious questions about the inherent risks associated with the use of these tools.
Just as modern technology has changed the way we interact with the world and our understanding of it, new technological solutions are also enhancing our legacy and our ability to rest in peace.
Organizations introduce web portals to help people share information and ideas. Time passes. Sites proliferate like kudzu strangling a pin oak. Their numbers keep people from finding the information they need and from engaging in the conversations that matter. Collaboration slows. What is the web gardener to do? In this article innovation architect Doug Collins explores how the practice of collaborative innovation can help organizations trim their proliferating portals.
Grand Challenges represent enormous potential in their power to use open innovation practices to generate worldwide awareness of — and affinity for —private and public sector organizations. As challenge prizes grow and social media bring them to the attention of the world, Grand Challenges have also become an important part of public relations exercises for Grand Challenge sponsors like Virgin, Netflix and General Electric.
There will be people within your organization who will fight against the use of social media and even against the very notion of open innovation, warns Stefan Lindegaard. Here are some reasons it may be difficult for senior management to embrace the notion of using social media to support open innovation. The reasons cited for their lack of support include an aversion to risk, a lack of understanding of the importance of a networking culture to the growth of open innovation initiatives, intimidation by the unknown, social media overload and fear of change.