Survey Provides Innovation Benchmark

November 18, 2011 By Aminda

NineSigma has released “Best Practices, Challenges & New Opportunities”, their 2011 Open Innovation Scorecard Survey Report. The survey, which includes responses from hundreds of organizations across a variety of industries around the globe, is designed to solicit responses from open innovation practitioners in virtually all industries regarding their collaboration practices and challenges. This report presents both a compilation and interpretation of those responses, and can also be used to benchmark a company’s or industry’s collaborative innovation practices and to provide insights into the rapidly expanding world of open innovation.

The report identifies key industries, such as consumer products, leading the open innovation charge, and reveals that open innovation continues to grow inside consumer and industrial manufacturing companies, as well as the service industry, as a means to reduce development times and costs, enhance innovation capacity, and when implemented and embraced fully, can create a true competitive advantage.

The reports indicates that innovation success requires leaders to have a keen understanding of an organization’s culture, and how they can influence key behaviors for desirable results in open innovation practice. It finds companies relying less on traditional knowledge management systems and more on social media and crowdsourcing platforms to find and connect to new communities and sources of information.

The report concludes by offering guidance on several identified challenges. For example, many organizations are still challenged by selecting the right OI tools for the right need. Few of the companies that have developed an advanced capability in open innovation have developed a “toolkit,” allowing innovation seekers within their companies to identify the type of need they have, and quickly find the appropriate tool. Companies are also challenged by legal policies that do not keep pace with OI practices. Many legal policies restrict or even prohibit personnel from engaging outside resources for new product development activities.

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