Successful open innovation relies on intermediaries and platforms connecting an organization with outside solution providers, so called open innovation accelerators (OIAs). With more than 180 players, the market for OIAs however is getting complex and difficult to navigate. A recent study by RWTH Aachen compared these OIA market. In this report, we summarize some of the main findings.
While most companies see innovation as a competitive advantage, the ability to take an idea from concept to delivery is truly what sets one company apart from another. Achieving this level of operational efficiency is not a simple feat and without processes around resource management and capacity planning, it is unlikely to succeed. The fact is, no matter how brilliant or timely an idea, if the right resources are not available to work on it, the idea simply remains an idea.
In the newly released Resource Management and Capacity Planning Benchmark Study, research is identifying best practices to avoid wasting resources on the wrong opportunities, leading to profit loss and missed market windows. Read more about the results from the study and how you can assess your company’s maturity level, determine what challenges you face, and leverage best practices shared by mature, successful companies.
Our first article in this series, titled “Include Business Model Review as a New Year Resolution”, described a method to reveal weaknesses in your business model. So, what do you do next after you complete your business model assessment and find weaknesses in one or more of its cornerstones? You find Value Accelerators (VA)™! VA’s are specific and market-proven ideas, assets or strategies that directly accelerate revenue and profit growth. This article discusses how to develop, assess and prioritize the best VAs to strengthen weaknesses in your business model. It also gives you a link to download an example of a scorecard to help prioritize the VAs.
In this in-depth article we present how Open innovation meshes with crowd sourcing, drawing on ideation, market needs and opportunities, to fuel a balanced portfolio with actionable innovation challenges, or « the right things to do », and converges these with a need driven approach to source the ways of « doing things right ». We will illustrate this innovation continuity with a number of examples and a focus onto the food and drink industry.
Year after year, our Global Innovation 1000 study has demonstrated that it is not how much companies spend on research and development that determines success — what really matters is how those R&D funds are invested in talent, process, and tools. In addition to our recurring analysis of R&D spending trends, our eighth annual study of the world’s 1000 largest corporate R&D spenders focuses on the “fuzzy front-end” of the innovation process — the tools, mechanisms and networks companies use to generate ideas and effectively convert them into commercialization projects.
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.
Is your company a great place for innovation? That probably depends on whether you ask the boss or the underlings. According to a new study by Development Dimensions International, a human resources consulting firm, the boss and the workers could hardly disagree more. Read more and download the report that does recommend some practical action steps that can be used to help bridge this disconnect between leaders and employees.
One of many good reasons for you to focus on your business model is that companies focusing on Business Model Innovation outperform their industry peers in terms of operating margin and total shareholder return. In this in depth article Marc Sniukas provides you with a framework to describe your business model in three easy steps; a process to start and drive Business Model Innovation within your company and an overview of tools and how they can be used in Business Model Innovation.
Difficult market conditions force SMEs to adapt or reinvent their businesses through new technologies or unique value propositions, but they often lack resources and technical capabilities and must thus collaborate with others to compete. Those that succeed in this transition often employ open innovation. A study by Dr Wim Vanhaverbeke, in collaboration with Ine Vermeersch and Stijn De Zutter found that open innovation can create new opportunities for all types of SME – from start-ups in high-tech markets to players in traditional markets – because they can change business models without having the required technologies in-house.
