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A Benchmark for Open Innovation: How Good is Your Company?

In this presentation, I share my benchmark views on how open innovation in general has been adapted over the years. The benchmark is based on my free e-book, 7 Steps for Open Innovation.

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A Benchmark for Open Innovation: How Good is Your Company?

  1. 1. Twitter: @lindegaard Hey! Free books, white papers and exercises on! A Benchmark for Open Innovation: How Good is Your Company?
  2. 2. What is open innovation? “…a philosophy or a mindset that they should embrace within their organization. This mindset should enable their organization to work with external input to the innovation process just as naturally as it does with internal input” Open innovation as a term will disappear in 5-7 years!
  3. 3. 1. Common Language and Understanding, Motivation, Mandate and Strategic Purpose 2. Assets and Needs 3. Value Pools and Channels 4. Internal Readiness 5. External Readiness 6. New Skills and Mindset 7. Communications Strategy 7 Steps for (Open) Innovation Get the free book – let´s have a session later!
  4. 4. Step 1: Common language and Understanding, Motivation, Mandate and Strategic Purpose
  5. 5. • Does your organization have a good understanding of open innovation and the demands it puts upon your company? • What is motivating the organization to pursue open innovation? • Is the mandate for open innovation clear and the strategy and strategic purposes well thought out and well understood by everyone involved? Think / Reflect Grade: 4 + Need for OI is recognized + Strategic attention on OI and innovation management in general - No common understanding of innovation term - Too much focus on creating innovation culture P&G (long history, next level)
  6. 6. Step 2: Assets and Needs
  7. 7. • Have you identified the assets and resources (internally as well as externally in your ecosystem) that are relevant for your innovation projects? • Have you identified other assets and resources that are needed but are not available within your current ecosystem? • Do you have a process for getting access to these needed assets and resources? • Do you have a process for merging internal and external resources? Think / Reflect Grade: 5 + Strategic focus drive higher awareness - Better processes and frameworks to be established - IoT and its impact is not yet understood Johnson & Johnson, 3M (internal OI only?)
  8. 8. Step 3: Value Pools and Channels
  9. 9. • What value pools can you tap into to build value for your innovation initiatives? • Are these relationships solid or do you need to do additional work to build good, mutually beneficial working relationships? • Are there potential external value pools that you have not yet tapped at all? If so, what is your plan for reaching out to them? • Are your channels for communicating with your value pools strong or do they need further work? Think / Reflect Grade: 4 + Strong focus on startups and Supplier-Enabled Innovation (SEI) - Better processes and frameworks to be established - Low maturity on selection, still opportunistic Electrolux (SEI), Fintech (startups)
  10. 10. Step 4: Internal readiness
  11. 11. • What is your company’s state of internal readiness for open innovation? • Does your culture support networking across internal units and with external organizations? • Is senior management up to speed on how innovation really works? • Do you have the right people in place to make open innovation happen? Think / Reflect Grade: 3 - Most executives don´t really know how innovation works - No dedicated training on OI / networking - New organizational structures are needed Koc Holding (willingness to learn / develop), Zappo´s (organizational experimentations)
  12. 12. Step 5: External Readiness
  13. 13. • How ready is your industry for open innovation? • What are the obstacles and drivers for open innovation within your industry? • What are you doing to persuade your partners to work with you on open innovation? • How strong is the trust between your organization and your external partners? Think / Reflect Grade: 6 + Everyone talks about ecosystems today + Better understanding of industry obstacles and drivers in general + You don´t go anywhere without trusting others (experimentation needed) GE (educating internally as well as externally)
  14. 14. Step 6: New Skills and Mindset
  15. 15. • Do your company’s leaders understand that people matter more than ideas when it comes to making innovation happen? • Have you identified people who are best suited for working at the different stages of innovation? • Do you hire for potential or is your hiring based on past experience and competencies? • Are your hiring and training programs geared toward developing the characteristics and skills needed for innovation? Think / Reflect Grade: 4 + Focus shifting (slowly) from front to back-end - Lack of new thinking on hiring processes (HR not involved in innovation) - No people pools GE (educating internally as well as externally)
  16. 16. Step 7: Communication Skills
  17. 17. • Do you have clear messaging that lets people know why innovation is important to the company? • Are you working cohesively with the corporate communications team on communicating about innovation? (You might have to train them.) • Are you doing a good job of communicating with internal and external stakeholders? • Do you train your innovators to become better communicators? Think / Reflect Grade: 3 - Corporate innovators still lack communication skills, awareness and training GE (educating internally as well as externally)
  18. 18. 1. Common Language and Understanding, Motivation, Mandate and Strategic Purpose - SCORE: 4 2. Assets and Needs - SCORE: 5 3. Value Pools and Channels - SCORE: 4 4. Internal Readiness - SCORE: 3 5. External Readiness - SCORE: 6 6. New Skills and Mindset - SCORE: 4 7. Communications Strategy - SCORE: 3 7 Steps for (Open) Innovation: The benchmark and your company? How does your company compare to my benchmark?
  19. 19. Some key observations • Go beyond products and technologies, embrace other functions • Go beyond problems and challenges; also opportunities • Go from one-to-many to many-to-many • SEI and startups are very active value pools • IoT will make it even more complex; people, partners and machine layers, ecosystems and platforms
  20. 20. Open Q&A
  21. 21. Author, speaker and strategic advisor on open innovation, innovation management / culture and the people side of innovation. Get in touch! @lindegaard Stefan Lindegaard