Innovation? Break Down Assumptions
Assumptions are one of the reasons why many ideas are left out and never become real innovative products or services. Avoiding risk and pragmatism are very common answers to new ideas, preventing the creation of disruptive products being incorporated into the market. Very often, this resistance is based on assumptions. As a model of innovation, […]
OI: How to Manage What to Get?
There are many formal and informal practices and corporate activities which are included within the paradigm of open innovation. Companies have to constantly explore their environment to find new ideas, but also exploit them effectively and find value in their collaboration activities to bring new products and services into the market. To do this, most […]
Challenges Companies Face Engaging In OI
When introducing a culture of Open Innovation, companies find difficulties, especially in aligning internal resources. According to the report “Managing Open Innovation in Large Firms”, the main barriers in Open Innovation (by importance) with these kinds of businesses are: Managing the organizational change internally Management of external relationships with innovation sources Protecting internal critical know-how […]
Our Experience With Open Innovation
Since I founded Premium Ingredients, a company specialized in functional food ingredient blends, constant innovation became one of our priorities, and this has been possible thanks to our external partners. Now, Premium Ingredients is integrated in Blendhub and we are immersed in new projects, again, made possible by external collaboration and Open Innovation practices. Premium Blendhub […]
Open Innovation is more than just going outside
Open Innovation is more than just ‘out the old and in with the new’, going outside or outsourcing. In fact, internal collaboration and support is an essential part of an Open Innovation strategy. No one better than a company’s team for defining: In which areas to innovate What the innovation challenges are What the atractive […]
Three elements to accelerate innovation
Crowdsourcing and co-creation are resources used by companies to look for external ideas. They try to develop new products by asking the crowd. There is a lot of potential for innovation in passionate groups of people. In this famous TED talk, Chris Anderson speaks of crowd accelerated innovation. He also discusses the impact of new […]
Innovation difficulties. Three things that make Open Innovation work better
In the video below (from TEDx Brainport), Harmke De Groot, Program Director at Holst Centre, highlights the value of Open Innovation to speed up innovation. Innovation is hard work and Open Innovation systems can help deal with some of the difficulties of the innovation processes. Thus, De Groot states five of these difficulties: Slowness. The […]
A Suitable Governance to Capitalize Open Innovation
Open Innovation requires processes to ensure internal and external collaboration, and good governance is essential to achieve it. In relation to this topic, I found the article linked (from Innovation Management) very interesting. Jean-Philippe Deschamps, emeritus Professor of Technology and Innovation Management at IMD in Lausanne, discusses the role of top management in fostering innovation. […]
Open Innovation in the connected economy
Some key points when talking about Open Innovation have to do with networking and connecting knowledge in, both outside and inside companies. In the video below, Seth Godin speaks of the connected economy and the opportunities for innovation and maketers. He refuses the industrialist mindset of productivity and predictable perfection that pushes people to avoid […]
Open Innovation In Emerging Markets
Navi Radjou, co-author of the book Jugaad Innovation: Think Frugal, Be Flexible, Generate Breakthrough Growth, defines Frugal Innovation as a business paradigm that enables companies to do more with less. This model comes from emerging markets and Open Innovation can play a crucial role in bringing the innovation it generates to rich countries. Both as […]