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How can big and small companies innovate better together? That is the focus of my upcoming book and this presentation. In my talk, I get into topics such as:- what open innovation is- the differences between big and small companies- why big companies need small companies- why things go wrong-
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Making Open Innovation Work
INGENUITYDon’t just get a leg up on the competition, get ‘em both up.
Credit: OVO Innovation
Directive, invitational Directive, participative
Suggestive, invitational Suggestive, participative
Instructions
Invitations
Directed
None
Relatively few “Everyone”
It’s just innovation!
#1 Faster development cycles and market launch
#2 More diversity, more opportunities
#3 Sharing of market and technology uncertainties
Questions?
Big versus small – the differences
#3 Speed of decision-making
#2 Allocation of resources
#1 Culture of innovation
Why big companies need small companies
Big companies bring scale and access to markets!
#3 They are closer to markets!
#2 They break the rules and take more risks!
#1 They live on the cutting edge!
Why things go wrong
#3 More focus on own gains rather than win-win!
#2 They don’t do the homework!
#1 Trust is not established!
Create simple letter of understanding that outlines working principles for partnership
Set expectations upfront to avoid the “false positives” mode
Don’t end up negotiating with a closed innovation mindset
Interaction and involvement are key elements for open innovation as well as social media.
Companies need to build strong capabilities on this intersection if they want to out-innovate their competitors.
15,000 users, 60,000 monthly visitors
High stickyness
Unexpected opportunities
Direction, training and time
Let’s stay in touch!
www.15inno.com
15inno by Stefan Lindegaard at LinkedIn Groups
Twitter: @lindegaard
Google+: Stefan Lindegaard