Nowadays, the innovation process is often more disruptive, faster and cheaper. However, most companies find it difficult to meet these requirements with the available on-board resources. Even though their own R&D departments are experts in their field, the way into the future often requires a new, fresh look at the subject matter. The magic word is Open Innovation.
Partners come into play in the Open Innovation process. The innovation process is thus opened for customers, partners, suppliers, startups and experts. Innovations are developed together with the resources from our own company, which are used across departments to generate ideas. The various stakeholders sitting at the table during the process can quickly query user requirements and combine them with the expert knowledge present. The result, according to my previous experience with such processes, is often very close to the target group and ensures optimal positioning for the future.
Why Open Innovation?
It can be said that the success of innovation requires a broader view. Special knowledge about current trends and technologies, creativity and user opinions are the key to success.
The process of generating ideas has changed fundamentally and should also be completely rethought. This process of searching for new ideas outside the company is also called crowdsourcing. The companies contact universities, experts or customers and thus generate solution approaches that are later elaborated and refined by innovation teams.
In the open innovation process, the internal ideas from idea management and the external ideas from crowdsourcing flow together and generate new services, products and services.
The advantage of the process is not only the targeted innovation through the combination of different idea providers, but also an increase in customer loyalty, which feels valued if they can participate in the development of the products.
In the coming weeks I will report more about the Open Innovation Process. If you yourself are interested in a workshop, a keynote on the advantages of Open Innovation or simply want to talk about the potential the method could have in your company, contact me you are welcome!
