making open innovation work

Making Open Innovation Work

INGENUITYDon’t just get a leg up on the competition, get ‘em both up.

Credit: OVO Innovation

Directive, invitational Directive, participative

Suggestive, invitational Suggestive, participative

Instructions

Invitations

Directed

None

Relatively few “Everyone”

It’s just innovation!

#1 Faster development cycles and market launch

#2 More diversity, more opportunities

#3 Sharing of market and technology uncertainties

Questions?

Big versus small – the differences

#3 Speed of decision-making

#2 Allocation of resources

#1 Culture of innovation

Why big companies need small companies

Big companies bring scale and access to markets!

#3 They are closer to markets!

#2 They break the rules and take more risks!

#1 They live on the cutting edge!

Why things go wrong

#3 More focus on own gains rather than win-win!

#2 They don’t do the homework!

#1 Trust is not established!

Create simple letter of understanding that outlines working principles for partnership

Set expectations upfront to avoid the “false positives” mode

Don’t end up negotiating with a closed innovation mindset

Interaction and involvement are key elements for open innovation as well as social media.

Companies need to build strong capabilities on this intersection if they want to out-innovate their competitors.

15,000 users, 60,000 monthly visitors

High stickyness

Unexpected opportunities

Direction, training and time

Let’s stay in touch!

www.15inno.com

15inno by Stefan Lindegaard at LinkedIn Groups

stefanlindegaard@me.com

Twitter: @lindegaard

Google+: Stefan Lindegaard