5 Elements of Innovation

Innovation Adoption Curve
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Judith Appartaim
Student (MBA), Ghana

5 Elements of Innovation

🔥NEW Does anyone know what the five elements of innovation are?

  Zedy Zaidy
Student (University), South Africa

5 Elements of an Open Innovation Program (Chesbrough)

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. .

  Jaap de Jonge
Editor, Netherlands

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  Darron Passlow
Business Consultant, Australia

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