Let’s not kid ourselves, the UK business environment is tough and won’t get much easier this year as uncertainty lingers and Brexit bites. In times of stress, we have noticed that large organisations line up into two camps, the Innovation Ostriches and the Innovation Bears. The first group, the Ostriches, conserve resources, put innovation off and wait for better times. The second, the Bears, go exploring. It’s not easy to be an Innovation Bear in an organisation at the moment as money’s tight, markets are unpredictable, and pretty much everything is a risk. So how do you do it? And why bother?
This is 100%Open’s third recession in our 12 year history – indeed, we spun out of Nesta in the largest downturn since WW1. What has preserved us through these times is the business model for Open Innovation itself. This strategy gets you more creative innovation, at a faster & cheaper rate than doing it yourself – highly relevant in today’s conditions. In addition, SMEs are becoming ever keener to cooperate. Innovation Bears already know this and many organisations are switching to a greater proportion of open innovation in the mix. It is these that will be likely to survive and prosper as the world gets back on its feet – they have a head start, after all.