A couple of years ago, it seemed that everybody in the external innovation business aspired to be "partner of choice." That is, they wanted to be the company that external partners would preferentially approach with unsolicited new opportunities. Michael Fruhling is pleased to report that a number of companies have really stepped up their external partnering "game."
Product innovation is not simply about generating new ideas. It is a complex process, and many organizations struggle with the design and implementation of an effective innovation strategy that yields measurable results over the long-term. Sustained growth and profitability can be achieved through the integration of three critical levels: People, processes and tools.
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.
The role of innovation in industry has changed. What used to be a closed and often secretive exclusive business of the R&D department is now being transformed to an open and collaborative eco system in many companies. InnovationManagement.se spoke to GBS Bindra, Global Innovation Director at Logica about the role of innovation.
At the heart of P&G’s design for growth is their capability to innovate. Over 50 % of innovation should be acquired from outside the company, according to CEO A G Lafley. Read more about how P&G works with open innovation through the concept of Connect + Develop.