Open Innovation: A critical success factor when you build your innovation journey

IdeaScale

and How can we change the way we work and the way we interact with our customers, to ensure that we know their needs at all times to respond in an agile and fast way? As a consequence there is not a “one size fits all” solution – each company needs a unique plan to drive innovation and change successfully. However, successful innovation management goes beyond the research and development department. Don’t leave innovation to chance.

Cultivating Innovation Agility

Innovation Excellence

Outlining the benefits of adopting a business eco-system accelerates the innovation process, reduces the risks inherent in innovation, and engages the entire organization as “co-ideators” and broader ecosystem in the innovation effort. Continue reading → Creativity Culture & Values Innovation culture education innovation agility Innovation Management Innovation Mindset innovative thinking Leadership Open Innovation

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Open Innovation: co-creation, and intrapreneurship

Innovation Excellence

He shares with us his thoughts on open innovation, brands co-creation, and intrapreneurship. 3) Co-creation is closely linked to open innovation: how would you balance between freedom and structure when adopting an open innovation approach?

6 Don’ts For An Open Innovation Winning Formula

Planbox

Open innovation (OI) can be a powerful approach for organizations to find groundbreaking ideas, develop new products and solve difficult problems. But not every company that engages in OI enjoys the same success; there are many reasons why.

Startup Engagement in Corporate Innovation

Integrative Innovation

More and more corporations seek to engage with startups by pursuing corresponding activities across dedicated ecosystems and incorporating them in exploration units along with internal ventures. From an innovation perspective, the ultimate objective is to validate promising initiatives and selectively scale them up in order to adapt or even renew the existing core business. Startup engaged naturally most in those vehicles not requiring any kind of equity.

Innovate or Die: Open Innovation and 4 Key Measures to Stay Alive

Innovation Walk

Companies commonly used to assume the best route to innovation was to control processes by keeping all data and knowledge internally and hiring the best employees. These are generally known by their agility and fast implementation of their products or services, giving them a great growth potential. The major challenge is then for large companies, usually built on cumbersome processes and lack of agility. This is how “ Open Innovation ” was born.

Six Insights for Innovating Amid Disruption

Yet2

In many ways 2020 defines the idea of disruption: the entire world went into lockdown, markets fluctuate, and every university and R&D department raced to innovate. Six months passed before we started seeing most of the innovations developed directly in response to COVID-19 hit the market.

Evaluating Crowdsourcing – offering a bright future?

Paul Hobcraft

Crowdsourcing has been growing in interest for some time to change our thinking in innovation discovery. It can hold a key for us to help solve vexing questions, real challenges, and connect different voices, that builds into a community that can combine and open up the fields of opportunity for new solutions. All in all, if applied carefully it can provide you a leading edge of innovation knowledge and insight. 6) it can create breakthrough innovation.

Innovation needs the power of completing the 4th Industrial Revolution

Paul Hobcraft

We are facing greater disruption and an increasing innovation pace. The prospect of new innovation potential will eventually work through into the world of Industry 4.0 Innovation is ready for those accelerating and being fully committed to their 4IR journey.

Applying the Three Horizon Thinking to a Fresh Perspective of Innovation Design

Paul Hobcraft

It is not just for innovation application, that can determine innovation activities. Thinking in different horizons prompts you to go beyond the usual focus of fixing innovation just in the present it provides the connections of the present with the desired future. I recently applied the three horizons thinking to ‘frame’ a new innovation design. In my view, we must go way beyond “open innovation” as we practice it today.

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15 most important Innovation Theories your company should be using

Idea to Value

Every company says that innovation is important, and that they value the ideas of their people. Yet the problem lies in the fact that so few established companies actually know how to go about getting value out of their innovation ambitions, let alone turning it into profit. In fact, according to some estimates by Doblin , 96% of all new innovations which established companies attempt fail to make a return on investment. Suggested viewing: 12 – Disruptive Innovation.

Scaling Up Startups in Corporate Settings

Integrative Innovation

outsourcing’ uncertainty, particularly in early phases of radical/disruptive innovation activities. How is startup engagement organized in corporate settings? Those tools are often organized as independent units or activities within the corporation or are ideally embedded in a single unit dedicated to explorative innovation altogether along with internal ventures. What is the major implication for startup engagement in corporate settings? .

Opening up our innovation to stay relevant

Paul Hobcraft

Our whole understanding of innovation is changing; there are numerous shifts occurring. We are opening up our thinking in where and with whom, to collaborate. We are evaluating and changing our existing focus from closed (internal orientation) into ones that are having a far more open stance. We are searching for more collaborative innovation (external orientation) combining external partners into more ‘collective thinking’.

We are transcending traditional industry and product boundaries

Paul Hobcraft

If they get the factors right, hit the needs of customers in their design, understanding, agility in responding to learning and adapting, ability to be fast to market and capable of scaling up really fast, then they transform spaces, leaving the established players desperately struggling to find answers and catch up. Within all the failures to change there still remains inside our existing organizations there is the inability to let go, to open up and share.

The chance to think differently about Ecosystems for Innovation

Paul Hobcraft

Thinking about ecosystems certainly allows us to go out of our normal scope of invention, innovation and being creative. It allows you to search and build on others specialization that “greater” innovation. Ecosystems built around specific platform designs are the future of innovation that takes designs and solutions into a new realm of opportunity built on collaborative engagement and common missions.

Innovating Through Vertical Expert Networks

Imaginatik

This condition of covert expertise is no longer being tolerated by both corporates, who are never ceasing to find ways of monetising assets, nor independent domain experts, aggressively seeking a piece of ‘upside’ to their innovative ideas rather than remaining content with being a sunk cost to ‘the suits’. These VENs are a specialized form of the topic of ‘open innovation’ that we’ve described in previous blogs. Open Innovation

Key Issues in Innovation Management – Revisited – Part 1

Tim Kastelle

At the beginning of 2013, Tim Kastelle and I identified four key issues in innovation management for the time to come. From our point of view, all of the issues pinned down at that time have gained significant importance, are being intensively debated and can still be considered cutting-edge for companies to stay ahead in managing innovation. Let’s have a brief look at each of them: Differentiating and integrative innovation concepts. Open and social co-creation.

The Challenges being Faced by Innovation Consultants

Paul Hobcraft

From my perspective I’ve been looking at a real challenge today, that many consultants offering innovation services are not providing real sustaining consulting value to clients, only ad-hoc services. In many ways, the consulting industry specializing in innovation is its own worst enemy. Innovation solutions simply need to be crafted in my opinion. Bespoke needs to be recognized as necessary for innovation solutions.

Digital Technology MoshPit

Gregg Fraley

New Service Offering for Digital Technology Innovation. Discover Ideas for Long Term and Tactical Innovation Projects. Chicago, IL, August 1, 2018 — The MoshPit Innovation Service is an innovation project discovery service marketed by GFi (Gregg Fraley Innovation). It’s designed to uncover unlikely, but useful, combinations of technologies, products, services, trends, and insights that lead to breakthrough innovation.

Innovators – are you thinking about Ecosystems?

Paul Hobcraft

It opens up a host of possibilities, that can add significantly towards a new service design, new capabilities and solving more complex problems. In opening up to managing within ecosystems you begin to see your ability to contribute and tackle societal problems within a collaborative system. Ecosystem innovation today is more about managing beyond the immediate known found within one organization’s limited focus of the world. Business Ecosystem Trends by Deloitte.

The innovating power of ecosystems and platforms

Paul Hobcraft

Our whole understanding of innovation is changing; there are numerous shifts occurring. We are moving towards a new management of innovation where ‘greater’ collaboration is fueling new business models built on platforms, formed around ecosystems of communities with vested interest, contributing and extracting value. We need to find a new way of doing things differently around innovation and its management. Moving towards an even greater openness.

Why Are We Making Innovation So Complex?

Paul Hobcraft

It always amazes me how we limit growth by not investing fully in innovation. While most large companies want to become more agile and innovative, many of them fail to turn this wish into a reality. There is this consistent need or pressure to grow, yet that specific needle stays stubbornly stuck in low growth numbers, even with all this innovation talk and desire. Innovation as a dedicated activity still sits uncomfortably within many organizations.

CO-CREATING FUTURE-FIT ORGANISATIONS

ImagineNation

In last month’s blog at ImagineNation we opened the door to a threshold for a new kind of co-creative, collaborative and cohesive team spirit to catalyse change through “innovation evangelism”. Innovation teams don’t innovate. How innovation teams learn and develop.

Jumping to a fresh cycle of innovation design

Paul Hobcraft

I have argued in the past that innovation management needs to radically adjust and needs to be designed differently, it needs to be highly adaptive. In my opinion, it needs to be based on the thinking around the shift from products to solutions, from transactions to building far more value-adding ongoing relationships, from a supplier of product services into highly valued network partnerships, exploring innovation across all options. Where is innovation within this?

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Key Innovation Issues for 2016 and Beyond

Integrative Innovation

Hence, I gave it some thought, starting by revisting an earlier reflection: Beginning of 2013, Tim Kastelle and I identified four key issues in innovation management for the time to come. From my point of view, all of the issues pinned down at that time have gained significant importance, are being intensively debated and can still be considered cutting-edge for companies to stay ahead in managing innovation. Innovation can’t be tackled through broad-brush recipes or tools.

We Require A Shift of Innovation Management Solution Providers

Paul Hobcraft

There is still a real reluctance that the supplier of innovation software solutions has to change. I think with the recognition that innovation occurs across the whole organization the innovation management (IM) providers have to radically alter their business model or recognize they need to broaden out their target market inside organizations as innovation is occurring in all corners of the organization today.

Balancing Large and Small Firm Capabilities

Integrative Innovation

The corresponding integration of incremental and radical innovation can basically be achieved in different ways: Building ambidextrous and lean startup capabilities. Established organizations with larger size usually target at extending their core business by incementally innovating their existing business model. Mastering disruptive innovation in a large company requires: – different people.

Top 10 yet2 Blog Posts of 2018

Yet2

Many of our clients engage yet2 for “traditional” tech scouting services – Strategic DealFlow , where we source step-change opportunities for clients, Topic Specific Scouting , which is when we are focused on finding the right solution to solve timely challenges with specific requirements, and Innovation Tours or Virtual Hubs, which has us scheduling meetings with 10-15 promising potential partners, or where we develop a regional innovation hub for a client.

Defending Europe, including the Brits, on innovation

Paul Hobcraft

What are Europeans loss is the UK’s gain, in being unshackled from others, not just lagging behind in digital technology and innovation but actually blocking it for the “collective union” Europe offers incredible history, the same as Asia. Let me take my area of focus – Innovation and Digital Technology. Europe seems to lag, some still call it an innovation powerhouse but they lose me just on that point alone. Europe does seem to be always lagging.

Innovation Car Boot Sales and Open Intellectual Property Exchanges

The Future Shapers

Pulling on the strands of decluttering, Open Source and Crowdsourcing this thought piece considers the challenge of creating an open market for an organisations Intellectual Property (IP). In late 2011 I was working as part of the innovation team at Logica. More than forty years innovation track record. This internal project to investigate what we would need to do to open up over 40 years’ worth of IP archives to the wider world and its ecosystem of stakeholders.

The Entrepreneur : Employee Ratio

100%Open

And of those employees that remain, up to 70% are not engaged in their work , according to Gallup. At 100%Open we’ve always relied heavily on freelancers over the years. We’ve built up a pool of regular Associates with whom we work with on specific projects, sometimes for very short and sharp tasks, and other times for an ongoing engagement. Namely to have a solid core of employees but an agile and flexible network of entrepreneurs.

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Openness Verses Intellectual Property

100%Open

Intellectual property (IP) is often the first thing people want to discuss when exploring open innovation. It’s something we at 100%Open know quite a bit about and we have developed a range of tools to effectively manage IP (e.g. innovation airlocks ). Good ideas are the lifeblood of all innovation but they almost never appear in flash of individual inspiration. Copying is at the heart of all creativity and innovation. Openness = Protection.

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Mind the Gap – Part 2

100%Open

Since that post was published last year we have been developing our own exciting collaboration with a corporate partner, to create the networks and platforms to truly open up and connect innovators both large and small, from around the world. We particularly became aware of the Give-Get gap when comparing financial return and cultural innovation, and discussing the value of innovation from a short and long term perspective.

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What Are Innovation Solutions?

eZassi

Innovation Solutions. What Are Innovation Solutions? While we tend to think of innovation in terms of new technology, solutions can also come in the form of new types of services that offer improvements on old ways of doing things, meet previously unidentified needs or fill gaps in the market. More often, innovation solutions use technology to support and dispatch new services so that the best solutions tend to be a combination of technology and services.

Scaling-Up: Crossing the Internal Chasm in Corporate Innovation

Integrative Innovation

This article was co-written with Frank Mattes from Dual Innovation and innovation-3. The race is on for companies to find big, explorative or even “disruptive” innovation ideas. This race is fueled by shareholder’s and business media’s demands to be ‘more innovative’ as well as by the Digital Transformation tsunami – which already has reshaped some familiar shorelines in several industries. Vehicles used for the corporate innovation race.

Balancing Innovation via Organizational Ambidexterity – Part 3

Integrative Innovation

The first part highlighted that radical and incremental innovation build on two different innovation set-ups (exploration and exploitation, respect. New research: ambidexterity well done is a key driver for innovation performance. In this paper [1], which is a “must read” for everyone engaged in this topic, Stanford University’s Charles A. Analyzing ambidexterity: the “extended innovation funnel” model. Chosen level of openness.

Innovation Strategy – 40 Articles on Fostering an Innovative Workplace Culture

BrainZooming

We see seven keys to creating an innovative workplace culture where individuals are able to meaningfully contribute to the organization’s innovation strategy. If you’re looking at your organization and wondering where to start to foster a more innovative workplace culture, here are forty articles to go deeper into the topic. An innovative workplace culture: #1 Provides Direction. It’s vital to point your innovation strategy in a direction. 6 Stays Agile.

Qmarkets Offering Innovation Management Software to Chinese Corporates Through Wise Ocean Partnership

Qmarkets

Wise Ocean specializes in analyzing emerging market and technology trends to identify the latest innovations, with a connectivity network of resources that includes industry experts, corporate partners, and business services.

Qmarkets Offering Innovation Management Software to Chinese Corporates Through Wise Ocean Partnership

Qmarkets

Wise Ocean specializes in analyzing emerging market and technology trends to identify the latest innovations, with a connectivity network of resources that includes industry experts, corporate partners, and business services.

Serious About Your Social Mission? Innovate It.

Leapfrogging

Mission-driven organizations have an equal opportunity to apply the principles and practices of innovation to maximize their impact–but few take it. The obvious place to turn is innovation approaches such as design thinking , rapid prototyping , and open innovation. This simple stake in the ground is where social innovation begins. Will they demand it, stay engaged, and recommend it to their friends and family?

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Building upon the four essential pillars for innovation

Paul Hobcraft

It is always welcome to read a thoughtful article that reminds me, no, it actually inspires me, by reinforcing my own belief that innovation is progressing, even if this is sometimes frustratingly slow. The innovation architecture is progressively being recognized and put into place, it’s forming the building blocks of the innovation platform we need to build upon, ones for more radical innovation outcomes. Achieving a Committed & Engaged Leadership.

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Gregg Fraley - Untitled Article

Gregg Fraley

Innovation Training. “Innovation Intensive, beyond Design Thinking” Public Course* With Master Trainer Gregg Fraley. Comprehensive Immersion Course for: Innovation Project Managers, Teams, Executives, Facilitators. This one day course consistently receives high marks from innovation executives and training professionals. If you are seeking to enhance innovation culture and jump-start or improve innovation efforts, this is the course to attend.

Treating Innovation Risk Differently, Dealing with Uncertainty

Paul Hobcraft

We need to open up our thinking about risk and innovation management. We should aim for a really healthy construct that does help all involved or associated with innovation and managing risk, that gives a better chance of pushing beyond the incremental innovation that avoids most risk and disappoints those seeking real growth. In this post two, within a three part series, I build the argument on why we need to treat innovation differently within any risk assessment.