Five Burning Questions about Implementing Open Innovation
The research and advisory company Nerac has been holding a number of executive roundtable discussions on open innovation throughout the United States and the United Kingdom. Participants were all Nerac clients who are engaged with OI at some level.
From all the debates and discussions several common themes emerged and now Nerac analyst David Fazzina has produced a short but welcome document that answers the top five questions that emerged from the executive talkfest.
The burning questions he answers are:
1) How do I implement open innovation in my organisation?
2) How do I strike a balance between open innovation and intellectual property?
3) How do I assemble a good open innovation network?
4) How can you evaluate open innovation?
5) What are the biggest advantages of using open innovation?
The answers he provides are insightful and to the point. You can read them and download the report here. They should go some way to allaying the fears of innovation managers concerned about deploying OI as part of their R&D arsenal.
Getting to Grips with OI
OI is here to stay, but unfortunately it is still sitting on the sidelines of the business world, a victim of hype, poor practices, misunderstanding, concerns about confidentiality, nervousness and inertia.
“Open innovation is about more than a small change in R&D. It has the potential to revolutionize business. But at this stage of the revolution, the open innovation process is chaotic. My advice is to get involved early, fail quickly and often, learn from your mistakes and develop best practices for your company.” David Fazzina
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