How to Accelerate Open Innovation Initiatives with Disruptive Technology
Global companies focused on open innovation can accelerate corporate innovation strategies by partnering with a select set of early stage, disruptive technology providers. The result can accelerate open innovation initiatives to fulfill existing market needs or to access new market opportunities while leveraging intellectual resources from outside your organization.
Analytics Spur Competitive Advantage and Bottom-up Innovation
Before getting to this stage, 44% of organizations say the primary barriers to enterprise-wide analytics adoption are cultural. IBM Institute for Business Value and MIT Sloan Management review released research based on a survey of more than 4,500 business leaders from more than 120 countries and a variety of industries.
The Future of Innovation Management: 5 Key Steps for Future Success
Looking back is a natural as we look to learn lessons from past activity. But perhaps more interesting is to look forwards. In this article Rick Eagar draws on the results from recent research that surveyed the opinions of global Chief Technology Officers and Chief Information Officers and identifies key changes in five distinct but interrelated innovation management concepts as being important for the years ahead.
How to Improve Patent Quality by Using Crowd Sourcing
Worldwide filings of patent applications and the ensuing invalidation requests have seen staggering growth over the last decade. The result is increasing patent backlog, deteriorating patent quality and an uncertain economic environment. This article briefly describes the crowdsourcing phenomenon and then details how it can aid patent review.
Lessons in Business Transformation
Is the world turbulent and hard to predict or changing in discernible ways? Two prominent strategists have different views, but draw similar lessons for business leaders.
Open Innovation: To Cooperate or Collaborate –That is the Question
One of the major findings in mankind’s history is realizing the value of working together. Without it we would have starved to death about 100 000 years ago because a single man going hunting is very inefficient (I know – I am a hunter). We have also seen a very strong correlation between the amount of innovations happening and the number of people who are interconnected in the society during the course of the years.
Open Markets and their Implications for Business Model Strategy
Kahn Academy is in the process of disrupting the long-staid textbook publishers market and K-12 education. This school is a stellar example of how any business today can thrive by capitalizing on trends that are opening markets for non-traditional competitors.
Mastering Radical Innovation – Turning Threat into Opportunity
Radical innovation presents both a threat and an opportunity to firms. It has frequently turned entire industries on their heads. History shows us that large, successful firms may very suddenly become vulnerable when the underlying technology shifts. In this in-depth article Christian Sandström examines how radical innovation can be managed, despite the seemingly insurmountable problems created by the transition from one technology to another.
Strategy as an Innovative Design Process
Unpredictable, turbulent markets and fluid industry boundaries characterize today's global economy. Yet our approaches to strategic planning, formed in the closed markets of the Industrial Age, often assume exactly the opposite. As a result, companies are mired in commoditization, industry disruptions from unexpected competitors, stalled growth, and tentative strategies. To gain the agility needed to thrive in today's complex and demanding open markets, strategy must become an innovative design process focused on value creation, says Kay Plantes.
A Compelling Example of Business Model Innovation: Finfrock Industries
A compelling example from the commercial construction industry showcases the power of business model innovation to transform your business.
Why Business Model Innovation is Critically Important Today
One of the few ways left for companies to protect their margins is through business model differentiation. According to Kay Plantes, business models have become the new basis of competition, replacing product features and benefits as the playing field on which companies emerge as dominant or laggards.
How to Harness the Value of Outsourcing-led Innovation
Companies who are engaged in developing innovation processes are also likely to be involved in outsourcing significant aspects of their operations. So how do you innovate when you've also outsourced? Sanjiv Gossain explores the issues.
Is it Time to Rewrite the Innovation Playbook: Ten New Requirements in the Age of Hyperinnovation
In the world of hyperinnovation innovation itself is changing. In place of a monolithic R&D based innovation culture we suddenly have a proliferation of innovation approaches and new pressures on enterprises to innovate. Haydn Shaughnessy and Nick Vitalari argue the innovation playbook needs to be rewritten, and relabelled.
Identifying and Exploiting New Markets in Growing Economies
The importance of new markets to growth can’t be overstated. But emerged, emerging and frontier markets are not just about growth. They are a perfect opportunity to extend our innovation capabilities. IM takes a look at the lessons of India as a product frontier.
Notes on Discernment – New Practice for the C-Suite
Executives and management leaders need to adopt a new style of engagement with their people and ideas if they are to produce the change their organisations need. Kevin McDermott of Collective Intelligence believes this new ‘discernment' mindset could alter our expectation of what senior managers do in the 21st Century corporation.
Managing Information, People and IT to Improve Business Performance
How can companies acquire greater maturity in the use of information? Ground-breaking research reveals some answers. Following an ambitious program of “field” research – involving more than 1200 managers in more than 100 companies across 26 economic sectors and 40 countries – we at IMD have scientifically demonstrated a causal link between a company’s performance and its maturity with regard to its “information orientation” (IO)
Forget your Customers and Develop Innovative Business Models!
Merely focusing on customers will not lead to groundbreaking changes in your business model. Instead, opportunities for business model innovation arise when focus is shifted to value creation for non-customers.
How Partners React to an Open Innovation Strategy
I have cited Psion Teklogix, provider of rugged mobile computers, several times on my blog for their promising approach to open innovation. Last month, the company took a big step forward with its strategic interpretation of open innovation – called Open Source Mobility (OSM) – when it brought its global partners together for a series of conferences at which they unveiled a new platform designed to give resellers and developer partners the opportunity to co-create with Psion.
Strategically Engaging Your Organization
Strategic management today must focus not only on meeting short term targets and budgets but also on building an organization prepared to succeed and lead into the future. This is obvious, you may say. But how is this simple reality reflected in how we strategically lead and engage our organizations? Read more in this article by IMD Professor Thomas Malnight.
Developing an Innovation Toolbox
InnovationManagement spoke to Alexander Osterwalder, sought-after author, speaker, workshop facilitator and adviser on the topic of business model design and innovation. Find out more about his views on innovation management, what projects he is currently working on, and why big organizations should enable their creative innovators.
How do Innovation Intermediaries Help you to Implement Open Innovation?
Up to now, several innovation intermediaries have assisted managers to transgress the boundaries from closed to open innovation and facilitated the access to opaque and highly difficult to connect technology markets. Examples such as NineSigma, Innocentive, Innovaro and Yet2.com have been specificaly helpful for technological problems requiring solutions fromom distant and distinct innovation actors. This work aims to address the lack of continuous effort to study the content, structure and governance mechanisms of these intermediaries as well as other less publicized forms such as incubators, innovation agencies, science and technology parks that further complement innovative practices. How do innovation intermediaries help you to implement open innovation?
Keeping a Constant Flow of Innovations at BASF
InnovationManagement recently spoke to Dr Thomas Weber, Managing Director of BASF’s Future Business, about what it takes for a large company to maintain a constant flow of innovation ideas and a spirit of enthusiasm to feed the pipeline.
Defining an Innovative Firm – It is Much More Than Technology
Innovation is very much the word of the moment. We hear it used in science, the arts, in politics, in society, and often for good reason. For example, the creation and building of the European Union, is one of the most innovative – and indeed frustrating – processes in history. So what actually is innovation? Read more in this article by IMD professor Georges Haour, IMD, one of the world's top business schools.
Discover New Possibilities with Reverse Innovation
Before the radical shifts in technology disrupt the industry fabric, there exists a great potential to appropriate value from the market through incremental product and business model innovations. The less intense the competition, less matured the market - larger is the potential. The emerging markets of the world the BRICs (where s could stand for the plurality as well as South Africa), have long been projected as the markets to invest in.