Learning from the Open Innovation Success of Others
Open innovation brings change, evolution and revolution that allows some companies to compete effectively in the complex global marketplace. That’s the message that comes out loud and clear from a report into open innovation by the Big Innovation Center.
And no matter what form open innovation takes and which platforms companies embrace the ultimate goals are the same – to increase innovation and realise increased value.
The Big Innovation Centre is an initiative to bring together companies, trusts, universities and public bodies to come up with ways to make the UK a global innovation hub.
The recently published report highlights a number of case studies of companies (including BAE Systems and GlaxoSmithKline) that have a long track record of open innovation programmes. It charts their OI journey and the challenges they have faced along the way. The report also puts the spotlight on some of those companies that have rarely considered open innovation.
Overall the report addresses four key areas:
- The building blocks for open innovation that need a management focus
- How different market sector characteristics influence the impact of open innovation
- Looking at the journey from a closed approach to a more open one, with descriptions of the interim steps
- Common barriers and continuing challenges faced by companies that have adopted open innovation
For anyone considering engaging external inputs for innovation the report is well worth a read, offering numerous insights and great value based on the collective experiences of several different organisations operating in different sectors.
To read the full report click here.
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