Open Innovation
Nowadays, the term “open innovation” has become very important for some companies which use this approach to increase their innovation capabilities, as they have shifted from so-called closed innovation processes towards a more open way of innovating. The term Open Innovation was promoted back in the 60s by a professor and executive director at the Center for Open Innovation at the University of California, Henry Chesbrough: “Open innovation is a paradigm that assumes that firms can and should use external ideas as well as internal ideas, and internal and external paths to market, as the firms look to advance their technology”.
The concept is related to user innovation, cumulative innovation, Know-How Trading, mass innovation and distributed innovation. This concept lets the companies not to rely entirely in their own research, but cross the form´s barrier and take advantage of the world´s widely distributed knowledge: firms should buy or license processes or inventions from other companies, at the same time that internal inventions not being used in a firm’s business should be taken outside the company.
In order to look for other ways to increase the efficiency and effectiveness of their innovation processes, companies have started actively on the search for new technologies and ideas outside of the firm, and also have cooperated with suppliers and competitors to create customer value. Because of the latest mobility and availability of highly educated people, there exist tons on knowledge outside the research laboratories of large companies. When these employees change jobs, they take their knowledge with them, resulting in knowledge flows between firms.
Using social media could be nowadays one of the most important ways to approach innovation and add value to the efforts. There are several objectives that a company can using the social media and social networks. To study and research an industry and the competitors Twitter can be the perfect tool, but also you can get a better understanding on how the innovation community talks about a company. Social media can also be use for marketing and projects promotion and to develop innovation and business skills for your employees. In order to achieve all the objectives, it`s important to determine the right mix of social media tools through experimentation.
Here is a video with some examples of collaborative innovation between companies and the consumers. It explains what Co-Creation is and how is it used in practice to come up with innovative products and services.
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12 feb 2012
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Sara Elizalde Hernandez
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MAGUA
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