Innovation is inevitable! The need to lower cost of development & increase product lifecycle is crucial for sustenance of any business. Most of the time the ideas come from the value chain consisting of customers, suppliers, partners and SME communities and not necessarily your employees. So is the need for open innovation. But managing open innovation itself is a challenge – though there are a few software / tools available, not one software fits all purpose!
SharePoint is an ideal platform for open innovation – with document management, social features it brings together people, data and process together and helps in seamless collaboration, so crowdsourcing ideas for innovation management is simple.
This presentation discusses the innovation management pitfalls, need for open innovation, and implementing an Open innovation model across the business value chain with a pre defined strategy, some stats on OI adoption – including open, closed and controlled innovation models. We also discuss the current day trends in open innovation, challenges in crowdsourcing ideas, and managing innovation including but not limited to IP related issues. And to conclude, some best practices in getting started with implementing an idea / innovation management tool / solution in the enterprise to gain efficiencies, along with where open innovation is headed.
Optimus BT insights | Marketing 2.0