making open innovation work
DESCRIPTION
How can big and small companies innovate better together? That is the focus of my upcoming book and this presentation. In my talk, I get into topics such as:- what open innovation is- the differences between big and small companies- why big companies need small companies- why things go wrong-TRANSCRIPT
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Making Open Innovation Work
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INGENUITYDon’t just get a leg up on the competition, get ‘em both up.
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Credit: OVO Innovation
Directive, invitational Directive, participative
Suggestive, invitational Suggestive, participative
Instructions
Invitations
Directed
None
Relatively few “Everyone”
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It’s just innovation!
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#1 Faster development cycles and market launch
#2 More diversity, more opportunities
#3 Sharing of market and technology uncertainties
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Questions?
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Big versus small – the differences
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#3 Speed of decision-making
#2 Allocation of resources
#1 Culture of innovation
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Why big companies need small companies
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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!
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Why things go wrong
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#3 More focus on own gains rather than win-win!
#2 They don’t do the homework!
#1 Trust is not established!
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Create simple letter of understanding that outlines working principles for partnership
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Set expectations upfront to avoid the “false positives” mode
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Don’t end up negotiating with a closed innovation mindset
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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.
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15,000 users, 60,000 monthly visitors
High stickyness
Unexpected opportunities
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Direction, training and time
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Let’s stay in touch!
www.15inno.com
15inno by Stefan Lindegaard at LinkedIn Groups
Twitter: @lindegaard
Google+: Stefan Lindegaard