Often I read articles or books about top-down vs. bottom-up innovation and why one approach would be better than the other. After spending more than five years in the collaborative innovation space, I would advise going hamburger style!
Working with external partners to bring better products and services to market faster and/or develop better intellectual property has never been more popular in the world of business than what we see today.
Getting started with open innovation and developing the right foundation for open innovation has been a key challenge at many companies in the last three to five years. Now, internal as well as external forces are moving these companies towards the next level of open innovation in which we go beyond just products and technology and start to explore how a more open and collaborative mindset can be applied to all more business units and functions. Think procurement and engineering as examples.
Why would a company that rose to prominence based on its innovativeness abandon its lifeblood when the founder exists the building? There are many examples of this happening out there. However if they follow in the footsteps of the world’s ‘serial innovators,’ leadership can keep a company’s innovation flame lit without having to bring back the founding CEO.
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.
