As if we needed reminding, the exponential increase in connectivity and information sharing is fundamentally changing the way organisations operate and innovate. I learned recently that the rate of data consumption by users of one major mobile phone network is doubling every four months! That’s a phenomenal rate of growth and most organisations, let alone [...]
What’s Different about Open Innovation? Better Value The metrics are less developed in this emerging discipline than in traditional innovation. In my last blog I outlined a list of the sorts of direct and indirect measures that firms can use to capture all the value that innovation brings. This same list holds true for open [...]
Measuring open innovation is a new field. I would like to examine three sets of factors unique to open innovation. Firstly, aligning the metrics of both parties is important, so that partners continue to get what they need out of the relationship and remain keen. Secondly, measuring the health and strength of relationships is vitally important because this is the glue that holds collaborations together. Thirdly, we must learn to value networks, factor in the anticipation of future rewards from them.
I firmly believe that open innovation is highly counter-intuitive which is why it remains somewhat marginal. To illustrate the point here are some traits of open innovation which often pass people by so I feel compelled to capture them in this post. 1. Start At The End. 2. Buy From Your Customers 3. Show Not Tell 4. You Will Never Spot a Winner. 5. It’s Not Who You Know, It’s Who Knows You
