Analytical strategic frameworks are not the key to creating transformative innovation. But a robust strategic framework is essential for shaping and developing an idea. In the battle for hearts and minds, analysis is also the only way to win over the brains of corporate sponsors, venture capitalists, bank managers and spouses. After the "Eureka" moment, it's essential to have a disciplined framework that puts a spotlight on the things that will determine the commercial potential of your idea.
There are three levels of open innovation maturity: externally aware, fully integrated and ecosystem orchestration. Innovation and growth performance improve as maturity increases.
According to a recent survey of 65 senior executives of global companies, the large majority of firms are looking for innovation to drive growth. But they're not necessarily looking for the next great product or product feature. Instead, companies are putting greater focus on business models that create value for customers in new ways.
You might think so since the world’s first government sponsored user driven innovation program is to be found in Denmark. The program aims to strengthen the diffusion of methods for user driven innovation and to contribute to increased growth in the participating companies. It also aims to increase user satisfaction and/or increased efficiency in participating public institutions. Søren Tegen Pedersen is the Deputy Director at the administrative authority of the program.
Over the years, I have seen unsuccessful innovation partnerships that seemed to have come straight from Dante's Inferno.
I have long argued that companies should look more at the people side of innovation rather than concentrating all their efforts on processes and concepts. The necessity of building trust as a basis for successful open innovation makes this even more relevant, and it also brings more power to the people who really drive innovation within a company.