Thursday, November 7, 2013

Ten critical elements for an open innovation culture

Stefan Lindegaard, INTRAP

In our Leadership+Innovation community on LinkedIn, Chris Thoen who is a R&D Director at Procter & Gamble, asked which elements are needed in order to create an open innovation culture. Our community had an interesting discussion and I want to share the key elements that came up.

- Willingness to accept that not all the smart people work for your company. We need to work with smart people inside and outside our company.

- Willingness to strive for balance between internal and external R&D. External R&D can create significant value; internal R&D is needed to claim some portion of that value.

- Willingness to give part of the control to others. We don’t have to originate the research to profit from it. We don’t need to control everything from the cradle to the grave.

- No need to always be first. Building a better business model is better than getting to market first.


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