Open innovation meets social media

Open Innovation Meets Social Media www.15inno.com 15inno by Stefan Lindegaard at LinkedIn Groups [email_address] +45 40 53 99 30

MY OBJECTIVE:
Give you an understanding of the intersection between open innovation and social media
Show you a new niche market for social media services…
… which helps build even stronger innovation competences

“ But [the engineer] stopped me and said: ‘These people are actually important to have outside of Google. They’re very Google people that have the right philosophies around these things, and it’s important that we not hire these guys. It’s better for the ecosystem to have an honest industry, as opposed to aggregating all this talent at Google.’” Bradley Horowitz, VP, Google

THE KEY CHALLENGES
From outcomes to corporate capabilities
We don’t get it. We are too old!

THE KEY CHALLENGES
From outcomes to corporate capabilities
We don’t get it. We are too old!
Where is the value?
SOCIAL MEDIA CAN:
Get you attention from potential partners; beat the competition
Bring you recognition as a thought leader
Help you become preferred partner of choice
= MORE OPPORTUNITIES
OK. We get it – but how do we do it?

STATUS QUO

VISIONARIES

GETTING STARTED
Start with a vision, then make it tangible
Build social media understanding and competence
Form a team with internal, external members
Identify key obstacles and influencers and develop a strategy on how to “influence” them
Build a process for developing and sharing content and business opportunities
Develop a strong story line for communication efforts

DO YOU HAVE THE RIGHT PEOPLE?
A shift of power is taking place

DO YOU HAVE THE RIGHT PEOPLE?
A shift of power is taking place
You need leaders with the right mindset which enables them to find the right operational people
Ideas can come from everywhere. Customers don’t care. Corporate innovation people will become facilitators and integrators
New mindset and skills are needed in the future of innovation – holistic approach, networking and communication

THANK YOU! www.15inno.com 15inno by Stefan Lindegaard at LinkedIn Groups [email_address] +45 40 53 99 30

OTHER REFLECTIONS
It is about INVOLVEMENT and how to co-create better outcomes.
Communities is the future of innovation. Corporate sites will evolve from the likes of P&G to the likes of SAP and Ingenuity Working.
Marketing has taken over crowd-sourcing for now. Innovation units need to improve at this.

LESSONS FROM A WORKSHOP 1/2
TWO ASPECTS OF SOCIAL MEDIA:
Communication of relevant messages
Collaboration including sharing of ideas and solutions
DIFFERENT MATURITY LEVEL, SAME CHALLENGES
Lack of time, resources and funds
Differences between corporate and personal efforts in social media
How to be an effective community builder – knowing what works and doesn’t work
KEY DISCUSSION TOPICS:
How to develop a social media strategy
What are some social media best practices
How to effectively bring in external entities to ideate for you
How to screen and prioritize ideas

LESSONS FROM A WORKSHOP 2/2
STRATEGY THOUGHTS
What could be achieved?
What should be achieved?
How much time can be devoted daily?
What is realistic versus not realistic today and then tomorrow
How can an effective destination site be created?
What are the risks in moving aggressively with social media tools?

THE VALUE
Better access to and interaction with stakeholders
Feedback loop on ideas and projects
Business intelligence
Marketing and promotion of projects and innovation outcomes
Thought leadership activities
Training on innovation skills
THINK 2 YEARS AHEAD

OPEN INNOVATION EFFECTS ALL INDUSTRIES, BUT…
… Impact is faster in industries with short product development cycles, less need for IPR and less need for capital.
Where is your company?
FMCG NOVOZYMES PHARMA INTEL INTUIT LG SAP MEDTRONIC GE

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Open innovation meets social media

by Stefan Lindegaard on Jun 01, 2011

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Open innovation meets social media — Presentation Transcript