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Articles in category: Open Innovation
Recently, I was asked to make a presentation to the senior procurement leadership team of a well-known pharmaceutical company. I was asked to do a piece on how to source innovative ideas from suppliers. Often the pressure to seek innovation from our external supply base comes from senior leadership, often the CEO. The request prompted me to ask my colleagues and see if there was common approach to the topic. My own experience – and those of other CPOs – revealed a number of approaches that differed from business to business and industry to industry. Reflecting on this, I have put together ...(Read Full Article)
One of my corporate contacts recently asked if I could share some insights on what corporate (open) innovation teams or groups look like and whether there are same similarities across industries. This prompted me to take a quick look and here I give you short descriptions of some groups with a public presence.
Shell Game Changer: GameChanger is a simple, flexible, and real-time innovation process run by an autonomous team at Shell that invests in helping people develop their novel ideas from genesis to proof of concept. Ideas can and do come from anyone, anywhere at any time – in or ...(Read Full Article)
Suppliers are constantly innovating, some more than others, but this isn’t always a benefit for their customers. The terms innovation and collaboration tend to go hand in procurement, and it isn’t difficult to see why. A relationship where your supplier delivers innovations exclusively for your benefit, and you made it in their interest to do so typifies collaboration. Innovation doesn’t have to be the product of collaboration though, simple cost pressure can also force suppliers to be inventive. However, left to their own devices, suppliers will innovate in such a way that they gain an advantage in ...(Read Full Article)
Is it possible for a company to over-innovate? The simple answer is “Yes”. Internal issues have a lot to do with the thickness of the idea and innovation pipeline within your company. You might have a very strong idea generation process (the front end of innovation), but this does not matter much if you not capable of taking these ideas through the internal system towards the market. Execution is just as important as ideation.(Read Full Article)
Here you get my top 5 list of companies with strong open innovation efforts. Your comments and suggestions for other companies are appreciated!
1. GE – for continuously developing the Ecomagination Challenge
GE have turned the Ecoimagination Challenge into a very interesting innovation vehicle – which also doubles as a good PR tool – and they seem to get not only high external engagement, but also high business value out of their efforts. Great work!
2. LEGO – for making different kinds of external sources work together
LEGO is building a strong open innovation program .....................(Read Full Article)
The great thing about uncontrolled environments is they’re not controlled. Change becomes easy and innovation abounds. Business improvements are only limited by your ability to imagine. The sky’s the limit. Of course a business environment with no controls is a dangerous place. Mistakes go undetected and fraud can thrive unless there are pragmatic business controls in place. But working within a tightly controlled environment requires a different way of thinking in order to ensure that change isn’t stifled completely.(Read Full Article)
In 1996, James P. Womack and Daniel T. Jones popularized the term "lean thinking". It was their expression for what they'd observed studying Toyota's manufacturing operations: an absence of waste. Today, lean concepts have moved beyond the factory floor to become an organizing set of principles and practices applicable to all business operations and activities, including entrepreneurial start-ups. Here's seven targets for keeping your innovation efforts lean:(Read Full Article)
If there's been one topic that has entirely dominated the US post-election landscape, it's the fiscal cliff. Will taxes be raised? Which programs will be cut? Who will blink first in negotiations? For all the talk of the fiscal cliff, however, I believe the US is facing a much more serious problem, one that has simply not been talked about at all: corruption. But this isn't the overt, "bartering of government favors in return for private kickbacks" corruption. Instead, this type of corruption has actually been legalized. And it is strangling both US competitiveness, and the ability ...(Read Full Article)
Innovation is no longer the sole preserve of the R&D department. These days, companies draw practical inspiration and profitable ideas from far and wide— from suppliers, academia, competitors, customers, and through crowdsourcing. So who is now responsible for driving so-called “open innovation?” And how can businesses ensure that the necessary relationships are effective? Recent research sheds some light on those questions.(Read Full Article)
Given the maturity of open innovation and crowdsourcing today, it has become fairly common to bring external resources into an innovation process. Just check this list of 40 examples. However, too many people still believe that the concept behind open innovation, crowdsourcing and co-creation is all about new products or services. Well, I just spoke with an innovation leader in a very successful company who is taking a different approach.
The region is using fresh thinking to solve local problems -- and world-class innovations may be the result. Consider mobile devices in Africa. Throughout the continent — and this is true throughout other emerging markets too — millions of people are glued to their cell phones. Since Africans were never tethered to landlines, innovation has been astounding. Kenya's M-Pesa, for example, allows customers to withdraw and deposit money via text message.(Read Full Article)
Collaborate to Innovate: Unilever Seeks Help with new Technical Challenges to Support Sustainable Growth
Unilever, one of the world's largest consumer goods manufacturers, has released a new set of challenges to the world's innovation community to help the business deliver on its sustainable growth agenda. In March 2012, the company's Open...(Read Full Article)
Over the many years that I have been working with open innovation, I have noticed that one company just seems to want to do things differently. This company is Mars. The open innovation paradigm shift is definitely shaking things up and Mars is about to change their approach. Now, they have just launched a new innovation portal called InnovateWithMars.(Read Full Article)
This is the first post in a series where I look into how you can use the four leading social media tools – Twitter, LinkedIn, Facebook and YouTube – to advance your innovation agenda. Let’s start out with Twitter and how it can be used for innovation efforts.(Read Full Article)
Too often, when companies start out with their open innovation efforts, they focus too much on external elements. This could evolve around questions such as:
Which external sources should we tap into (customers, suppliers, academics, other partners)? What platform should we use to harness external ideas/input? What kind of campaign should we develop (short burst or longer time)? How should we reward external contributors?(Read Full Article)
Companies tend to repeat what has worked for them in the past. In our research on the telecom industry, for example, we found that the great majority of the executives we surveyed preferred internal development to external sourcing when they needed to develop differentiated products and services. We get similar results in other industries, though the preferred growth mode may differ.(Read Full Article)
We have got to an interesting point now in the debate over the procurement of innovation. The major question for policy makers is who should be implementing this policy. As I said on the show the other week, pre-commercial procurement is at the moment relatively little used but it does form the basis for for technology transfer organiations to help out user departments in government.
- Remember to check out the good reads at the end of this post! As I am about to write an e-booklet on the intersection of intellectual property and open innovation, it would be great to get your… (Read Full Article)
At the recent European Open Innovation Summit, there was a great presentation by Erik Hansen, Senior Director, Technology and Open Innovation at LEGO. Early on, LEGO established a taskforce with the aim of assessing the opportunities, needs, and benefits for introducing new practices of open innovation across The LEGO Group.(Read Full Article)
Cloud, mobile apps, iOS, social media... leave me alone! What in the world does this have to do with procurement and sourcing, you ask? Good question, and as a former skeptic let me share some thoughts. First, let's look at iOS – this is the operating system driving iPad, iPhone, iPod and other Apple products..(Read Full Article)
What are the common mistakes or missteps that organizations should avoid as they try to build trust within their innovation networks and communities? It would be great to have a discussion on this so I look forward…(Read Full Article)
A few months ago, I met with the Sr. Director, Open Innovation at Lego. I asked him the above question. His response came fast and clear. “We have no choice”, he said and continued: “Our customers simply demand to be part of the development of our products and service and our employees tell us they can do more if we open up our innovation efforts. So in our view, we have no choice but to open up.”(Read Full Article)
The innovator's quest has been to find the win-win proposition: a great new product that can create differentiated value for consumers while supporting differentiated profits for the producer. But the focus on win-win can blind us to the needs of critical partners.(Read Full Article)
I often have difficulties presenting hard facts as well as strong cases on how companies use social media for their innovation efforts. Now I just got a big help from Social Semantic, which is a project/organization working to help Danish companies and organizations become world-class at using social media and new technologies.(Read Full Article)