Tag Archives: business
I am frequently asked, “Why should my company adopt Open Innovation?” My new response will be, “Don’t you want 17% growth in earnings each year.” Let me explain.
So, you don’t have a new idea for a wonderful product. Not a problem. Sometimes invention is reinvention. Many successful ideas are new ways of reusing existing ideas or new combinations of existing things. Here are three examples:
Nokia is seen as a company that was innovative but is in decline. It was the company that made cell phones fashion accessories. In 2008 it had a 40% share of the global mobile phone market. Today it has just … Continue reading
Recently I visited a company that wanted to invest in innovation. They wanted to act, yet they were hesitating. They were thinking of innovation as the creation of totally new, game changing products that radically change the marketplace. They were … Continue reading
When I talk about innovation I usually start with an explanation of why innovation is important. To do this I use two reports, one published in 2000 by PWC, the other published in 2010 by DeBooz. Although the surveys were … Continue reading