How successful is Open Innovation as an innovation method? For leaders like Proctor and Gamble the answer is obvious but the same can't be said for the vast majority of enterprises taking this route. Doug Berger takes the soundings.
As the global economy has improved and CEOs get past their hunker down/cut costs/survival mentality, the question of how to drive growth begins to dog them. But getting senior management to take action on innovation often needs a catalyst, and a solid strategy for getting them to say "yes" to innovation.
The long-term benefits that come from game-changing breakthroughs require work: unconventional methods of seeking out the unmet and unarticulated needs of customers, faster prototyping of ideas, new ways of funding ventures, and compensation systems that provide incentives to increase the revenue from new products and services. Author Robert Tucker explains three ways in which successful companies have overhauled their innovation processes.
