Open Innovation: Killer applications for the “Internet Of Things”

A couple of days ago I had a very interesting and thought-stimulating Open Innovation workshop with one of the largest world’s largest software vendors. The topic was about the “Internet Of Things” (IOT), the consequences for established firms and software vendors and potential business model innovators that it will enable. The IOT will be one of the next big waves …

Where Open Innovation and strategic planning meet

Last week I had an intersting discussion with the Head of Corporate Strategy of a multinational German company. The question that we discussed was: “Which implications will Open Innovation have on the strategy process of global companies – Where are opportunities, what needs to be modified?”. To better understand my discussion partner’s perspective we first had a look at the …

A roadmap for implementing R&D-driven Open Innovation

Almost in any client discussion I have about implementation of R&D-driven Open Innovation we discuss questions like „How long does it take to implement it? When is the appropriate time to start with organizational change? When should we install metrics to measure success in Open Innovation?” My typical first reply is, usually presented with a smile “It takes longer”. From …

From Open Innovation to Networked Innovation

Since Henry Chesbrough published his groundbreaking book on Open Innovation in 2003, the idea of porous innovation funnels has risen to the agenda of innovations managers from all leading companies. Some pick the idea up more consequently than others do, some have more concerns about the critical issues that surround the Open Innovation concept but nevertheless it is generally accepted …

How to sell an innovation idea

Every new innovation idea – and this is certainly true the more radical it is – has first of all to get Top Management’s awareness if it ever it is to be realized. In my consulting experience I had dozens of opportunities (or challenges, depending on how you want to see it) to sell an innovation idea to Top Managers. …

Business Model innovation

When talking to innovation managers and executives I usually find a diversity in answers on the question “Are business model innovations relevant? And what is a business model innovation anyhow?” A Business Model innovation is NOT a revolutionary let’s-get-rid-of-all-the-old-stuff-completely activity. It’s NOT: “Start-ups can easily overthrow corporate behemoths” “Classic management / financials are not relevant – Substitute currencies e.g. „share …

A role model for cross-industry innovation: The German textile industry

Smart textiles and fibers are a success story in Germany these days. Additionally they provide excellent case studies in cross-industry and cross-science innovation. Some years ago, the German textile industry was a sad story. Around 800,000 jobs in this industry were lost since the early seventies and only one out of seven companies survived. Yet the German textile industry with …