Open Innovation, loosely defined as seeking solutions outside your company, can help a company dramatically increase its technology and product pipeline, but it is not without its challenges. In this article, we explore a major obstacle that can impede the success of an open innovation based project, and how to remedy it.
I have seen and been involved with hundreds of open innovation projects. Many of these projects succeed, and help the company push through major obstacles to be able to release a disruptive new product or technology. But some fail – and one of the biggest reasons for failure is a lack of full commitment from the stakeholders in the project. Read the rest of this entry »