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The Essential Element of Trust in Open Innovation


What are the barriers against building trust and relationships with stakeholders in your ecosystem

* Most organizational structures foster an internal rather than an external perspective.
* Most companies view external partners as someone paid to deliver a specific service rather than a source of co – creation and open innovation.
* Most companies are more focused on protecting their own knowledge and intellectual property rather than opening up and exploring new opportunities. They play defense rather than offense. This should not come as a surprise as one of the main objectives for corporate lawyers is to minimize risk, and it is fair to say that opening up to the outside world increases the risk element.
* Forging strong relationships takes time and personal commitment. We are just too busy to make it happen and it does not help that most companies do not provide the necessary time, resources, and encouragement to make this happen.

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Publicado en by Stefan Lindegaard

The Open Innovation in the European Union (EU) environment


Everyone is being affected by this change from SMEs to Government organizations, but it seems that Europe has not changed enough.

R. Hudson says it takes:

– Focus on Excellence. If Europe wants to compete has to have the best research and ideas available.

– Focus on clusters. We need to focus resources on areas of high technology in order to attract bright students to its universities and companies for their rich business parks .

– Free SMEs. Small businesses are a major driver of ideas to the markets. We must encourage them financially.

– Buy smart. We need to provide the public services with the ability to purchase innovative products and services.

– Regulate smart. The setting is a sign of obligation and can lead to innovation.

Since 2009 it became clear that:

– It is essential to invest in new skills (people) and not only in technology (tools).

– The environmental concern is no longer exclusively green to be too gray and white in reference to creative thinking.

– “The new thinking” can be provided (with help), as is the case presented by Hudson, in terms of policies and regulations.

– The interdisciplinary team (economists, engineers, psychologists, designers, etc.) have guaranteed future. Everyone can create, conceptualize and implement ideas.

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What is Open Innovation? | Crowdsourcing? | User innovation? | Co-Creation?


What is co-creation? Here Wikipedia states that co-creation views markets as forums for firms and active customers to share, combine and renew each other’s resources and capabilities to create value through new forms of interaction, service and learning mechanisms. It differs from the traditional active firm – passive consumer market construct of the past. I like how C.K. Prahalad and Venkat Ramaswamy argue that “value will be increasingly co-created by the firm and the customer, they argued, rather than being created entirely inside the firm.”

These terms overlap which leaves plenty of room for confusion, but I hope this short overview helps.

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Publicado en by Stefan Lindegaard

Companies Need All The Innovation They Can Get


by Sheldon Laube | Innovation Office, PwC

In a recent Bloomberg article entitled “Why Companies Need Less Innovation“ Pat Lencioni makes the case that companies should not be asking employees to be innovators. He goes as far as to say that leaders should not even be open to more ideas from their employees and that only a few people really need to innovative. He suggests that rank and file employees should not try to innovate but simply “do their jobs and satisfy customers in the most effective and charismatic way possible, but within the bounds of sound business principles.”

Lencioni has a far too limiting view of innovation. Let’s start with the definition of innovation itself. While this is widely debated, I always fall back to the simple dictionary definition:

Something new or different introduced

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Is Corporate Venture Dead? Is Open Innovation the New Thing?


Once upon a time, we had many corporate venture units that invested in external projects as well as in internal projects from the corporate groups that they belonged to.

The number of units declined steadily during the last decade and it continues to do so in the aftermath of the financial crisis. One company that I have always admired is Danfoss Ventures, which is the corporate venture arm of Danfoss, a group with 26,000 employees working with refrigeration, air conditioning, compressors and more.

Unfortunately, Danfoss Ventures – my role model on corporate venture – is now dead. According to Executive Vice President at Danfoss, Nis Storgaard, this is about prioritizing resources where they make most impact.

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Publicado en by Stefan Lindegaard

The efficient use of ideas


Every significant “leap forward” in the span of human consciousness has coincided with a significant change in the efficient use of a significant resource. For example – the transition from nomadic life to farming. This transition came about because people learned to till the ground and grow food that was dependable and sustaining. The fact that people could stay in one place and have a consistent food source meant that they could take on other tasks. The more efficiently they used the soil, the more crops they could grow, and the more time available for other activities.

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In Innovation, Culture Trumps! Learnings from P&G


Quick – what company do you think of when you hear “Open Innovation”? Many think of P&G – they were, and are, at the forefront of Open Innovation (OI) and the results are now case studies at business schools around the world and benchmarks for many. I had the chance to talk with Chris Thoen, P&G’s OI guru, at the 2nd Annual OI Summit. It seems that everyone has interviewed him and if you google him, you’ll find a lot of great learnings on how P&G has grown their OI initiatives and made it a part of their culture. Of course I wanted to ask him something original, so, being interesting in how we learn, and apply, from failure, I asked Chris what he thought was one of their key failures and what they learned from it. The answer surprised me.

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Gabriel Catalano

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