5 Elements of an Open Innovation Program (Chesbrough)
Zedy Zaidy, Student (University), South Africa, Member
Hi Judith! I hope that you are fine, so am I. Your quest is more interesting, but not specific. Innovation is divided into big categories, to wit: closed innovation
and open innovation
. The former is losing ground due to the diffusion. The latter has been gaining momentum since its inception in 2003 by Professor Henry Chesbrough.
Chesbrough mentioned 5 elements to open innovation programs:
1. Executive commitment: With a business model pivot,senior level endorsement,evangelism and resources are essential.
2. Organizational architecture: Open Innovation is fundamentally a unique system of processes, tools and people constructed to communicate needs to and collaborate with external partners.
3. Intellectual property framework: Uncertainty related to treatment of intellectual property frequently derails Open Innovation programs.
4. Relationship management: A broad,passionate and diverse community of experts knowledgeable is an essential element for breakthrough ideas at the front end of innovation.
5. Communication: An Open Innovation organization needs to be very directed in terms of what problems or opportunities need to be solved. .