When to Outsource Innovation?
According to Michael A. Stanko, Jonathan D. Bohlmann and Roger J. Calantone in the article “Outsourcing Innovation” (Executive Adviser, November 2009), outsourcing research and development and the creation of new products can help companies to slash costs, speed development time and tap into talent outside the company. Based on an analysis of 359 companies, following four situations call for outsourcing innovation:
1. When companies would need to add lots of new knowledge to innovate.
2. When intellectual property is not well protected in the industry and new ideas can spread quickly from company to company to limit spending.
3. When companies have had lots of experience with outsourcing, as they are able to better manage the situation to produce effective results.
4. In the early stages of a project, when there are lots of technical hurdles to be overcome and the outcome is far from certain.
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Welcome to the Outsourcing best practices. The topic being discussed here is: "When to Outsource Innovation?".
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David Matthews, United Kingdom
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Outsourcing Innovation is a Bad Idea
Daft idea, if you don’t do any internal innovation...
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Darren Harrop, United Kingdom
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When to Outsource Innovation
Many organisations do not have the in-house skills...
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Allemeersch Johan, Belgium
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Insourcing of Innovation
I would prefer to use insourcing of innovation, wh...
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Svein Ulset, Norway
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Outsourcing Innovation
Many oil companies regularly outsource innovations...
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SIVASUNDARAM, India
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Outsourcing Situations
Three situations when outsourcing should be done:
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