TOP 5 COMPANIES FOR OPENINNOVATION OF 2013For additional information about Innovationplease visit www.InnovationGrow.com
www.InnovationGrow.comOPEN INNOVATION IS A CONCEPT THAT WASDEVELOPED BY HENRY CHESBOROUGH ANDTHIS IS HIS DEFINITION:“Open ...
www.InnovationGrow.comBasically this is a synergetic way for companies to share their onceguarded ideas with organizations...
www.InnovationGrow.com1. GE – YEARS OF CONTINUOUS DEVELOPMENTAND THE ECOMAGINATION CHALLENGEGE has been a pioneer with its...
www.InnovationGrow.com2. PHILIPS – A GLOBAL THOUGHTFUL APPROACHON OPEN INNOVATIONThere are plenty of partnerships that Phi...
www.InnovationGrow.com3. LEGO – PARTNERSHIPS AND DIRECTCUSTOMER FEEDBACKThe household building company has a strong open i...
www.InnovationGrow.com4. UNILEVER – LEARNING THE HARD WAYHindustan Unilever Limited was faced with financial troubles that...
www.InnovationGrow.com5. GENERAL MILLS – THINKING LONG-TERMGeneral Mills is one of the most innovative companies in the wo...
www.InnovationGrow.comTrying to emulate these companies open innovation processes on anyscale will improve your chances in...
GROWING BUSINESS WITH INNOVATIONFor additional information about Business Innovationplease visit www.InnovationGrow.com
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Top 5 companies for open innovation of 2013

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Open innovation allows companies to talk with other companies or customers during an earlier stage of development and to even include them in the product or service formation stage.

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Top 5 companies for open innovation of 2013

  1. 1. TOP 5 COMPANIES FOR OPENINNOVATION OF 2013For additional information about Innovationplease visit www.InnovationGrow.com
  2. 2. www.InnovationGrow.comOPEN INNOVATION IS A CONCEPT THAT WASDEVELOPED BY HENRY CHESBOROUGH ANDTHIS IS HIS DEFINITION:“Open innovation is the use of purposive inflows and outflows ofknowledge to accelerate internal innovation and expand themarkets for external use of innovation, respectively.”2
  3. 3. www.InnovationGrow.comBasically this is a synergetic way for companies to share their onceguarded ideas with organizations and individuals outside the companyto accelerate the innovation process.Open innovation allows companies to talk with other companies orcustomers during an earlier stage of development and to even includethem in the product or service formation stage.This allows the companies to afford the ability of not only innovatingfaster but also saving resources on guesswork so that they can make theimprovements that will matter most to their customers.Here are the top 5 companies with strong open innovation efforts.3
  4. 4. www.InnovationGrow.com1. GE – YEARS OF CONTINUOUS DEVELOPMENTAND THE ECOMAGINATION CHALLENGEGE has been a pioneer with its Ecoimagination Challenge by using it asits open innovation tool. It also has the added benefit directcommunication with other companies and individuals to increase itsalready robust innovative process.4
  5. 5. www.InnovationGrow.com2. PHILIPS – A GLOBAL THOUGHTFUL APPROACHON OPEN INNOVATIONThere are plenty of partnerships that Philips has made to drive theiropen innovation forward.They collaborate with the High Tech Campus with knowledge sharing.Philips also actively contributes its experiences through the Philipsinnovation consultancy.5
  6. 6. www.InnovationGrow.com3. LEGO – PARTNERSHIPS AND DIRECTCUSTOMER FEEDBACKThe household building company has a strong open innovation programincluding their partnership with Cuusoo.Cuusoo itself is a platform for open innovation and LEGO integrate thiscrowdsourcing platform with great success.With the current program for the creation of a product it requires10,000 votes.Also, they offer the ability for people to create the designs themselves6
  7. 7. www.InnovationGrow.com4. UNILEVER – LEARNING THE HARD WAYHindustan Unilever Limited was faced with financial troubles that wereexacerbated focused on margins and price increases ahead ofcollaboration with customers or employees.When they made the simple change to focusing on collaboration andencouraging employee innovation they were flooded with solutions toall of their problems that also resulted in a 34% increase in their stockprice.7
  8. 8. www.InnovationGrow.com5. GENERAL MILLS – THINKING LONG-TERMGeneral Mills is one of the most innovative companies in the world asthey were one of the first large companies to adopt an open innovationprocess.By using their global partners and customers as an additive to theirinnovation process they can stay competitive while their competitorsstruggle.8
  9. 9. www.InnovationGrow.comTrying to emulate these companies open innovation processes on anyscale will improve your chances in this any economy as well as leadingto better success in the future.Remember that people like to contribute and the more ideas or creativeinputs that you can harness in your innovation process the more likely itis that you will be able to tackle any problem or situation that is thrownyour way.Use these 5 top companies as a model for success and you will not onlycompete in this competitive business marketplace but you will be onyour way to becoming your industry leader.9
  10. 10. GROWING BUSINESS WITH INNOVATIONFor additional information about Business Innovationplease visit www.InnovationGrow.com

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