We have too few processes and models that can help companies that want to embrace open innovation. There is the “Want-Find-Get-Manage” model as developed by Gene Slowinski, but that is about it.
This needs to change and I have begun developing a model on how companies can embrace open innovation. It is based on these 7 steps:
- Why Open Innovation?
- Assets and Needs
- Value Pools and Channels
- Internal Readiness
- External Readiness
- Skills and Mindset
- Communication Strategy
Steps for Open Innovation: The Breakdown
1. Why Open Innovation?
First, we need to establish why the company wants to embrace open innovation.
We should address this in two ways. 1) Open innovation is very much about mindset and philosophy that impacts a corporate culture. This is a big issue and we need to look into why and how a company should embrace open innovation in the context of their innovation culture. How can this bring benefits? 2) Open innovation should bring better outcomes. This is based on real projects. Will the adoption of open innovation make a difference with regards to the current ways of identifying and developing projects?
For this, we can apply a Strengths/Weaknesses/Opportunities/Threats approach.
2. Assets and Needs
As we look into specific projects, there are two main questions: What are the assets within the company and the ecosystem with regards to bringing these projects to market? What is needed from the outside in order to bring these projects to market?
3. Value Pools and Channels
Here, we identify the value pools that the company can tap into. This gives an overview of the current and future ecosystem in relation to the given project. We also look into the channels and types of interaction that the company can use to activate the different value pools.
4. Internal Readiness
What is the internal readiness of the organization with regards to embracing open innovation? We look into the people, culture and processes elements as we gauge the internal readiness.
Here, we also look into the “smartfailing” process, which focuses on how the company learns from the inevitable failures that comes with experimentation and “innovating on innovation.”
5. External Readiness
Is the industry ready for open innovation? What are the obstacles and drivers for open innovation within the industry? What are the good / bad cases?
6. Skills and Mindset
New skills and a new mindset are needed when you shift from internal and often R&D led innovation efforts to an external and more holistic approach driven by open innovation and business model innovation.
What are the shortcomings with regards to the skills and mindset? How can they be addressed? What should be included in an overall corporate innovation training program? How do you educate your partners in the ecosystem and industry and to which extent should this happen?
7. Communication Strategy
An important part of corporate open innovation efforts is to become the preferred partner of choice within the relevant ecosystems (current and future). This requires a communication strategy that focuses on both internal and external communication efforts.
Thanks for reading this. Perhaps you would like to add your views and perspectives? Here are some questions to get get you started:
Are these 7 steps relevant for a model on how to embrace open innovation? Did I miss something? What can be excluded?
Can you suggest some exercises to the workbook? For your information, I have already developed a number of exercises that can be used to develop this framework. They are available for free in this workbook: FREE Books, Papers and Insights on Open Innovation and Innovation Culture
What would be a good title for such a model? Does 7 Steps for Open Innovation work well?
Do you have other comments or reflections?
Your input is appreciated!
[This post originally appeared on 15inno and is republished with permission.]