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Implementing open innovation: lessons from multi-national companies

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Manufacturers are increasingly turning toward Open Innovation (OI) as a means of enhancing their innovation capability. As manufacturing processes and technology become increasingly complex and global markets are far more competitive, few companies can rely on in-house research departments alone . Open innovation is a process designed to accelerate innovation through collaboration. Under this approach a company works with external partners on new ideas in a bid to generate new business opportunities OI was defined by Henry Chesbrough (2003) in his framework of Open Innovation (OI). However, among practitioners there is still confusion over how companies can best implement OI. This talk will present the results of a two-year IfM study that reviewed how large multinational corporations approached it’s implementation. The study revealed despite different motivations and different drivers for its adoption, there were several common themes which researchers observed across a range of industries. This talk focuses on the challenges of implementing OI in terms of culture, skills , procedure and motivation.

Refreshments available from 17.00 hrs.

Presentation at 17.30.

This talk is part of the Manufacturing Thursdays series.

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