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Objectives

Objectives. Understand that innovation relies on ideas from inside and outside of the firm Understand that many innovations are novel combinations of existing ideas Understand the role of intermediaries in idea recognition and combination.

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Objectives

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  1. Objectives • Understand that innovation relies on ideas from inside and • outside of the firm • Understand that many innovations are novel combinations • of existing ideas • Understand the role of intermediaries in idea recognition • and combination

  2. Why Is Innovation Less Likely to Be Generated or Sustained Within a Single Corporation? • Development cycles and business cycles are out of synch. • Ideas don’t fit their strategy or business model • Labs can’t get business units to buy-in • Labs don’t share information • Companies unwilling to give up IP royalty stream • Ideas’ real potential may be in value network with other • companies

  3. Intermediaries Can Help • They are innovation head-hunters who link companies • with complementary ideas, skills, and/or resources • Many consultants are uncomfortable in this role because • of norms about client confidentiality • Who can play this role well? Venture capitalists, • investment bankers, retired executives

  4. Examples • ISIS (Summit Business Development System), Accenture • (Technology Labs), and Cap Gemini Ernst & Young have • convened brainstorming workshops. • IBM’s initiative AlphaWorks is interesting because you put • software out on the web and ask others to run with it, come up • with a creative idea. Open Source is similar. • New web services, automated information exchange, data • mining from sets of participating companies

  5. Open Source The basic idea is very simple: By making the source code for a piece of software available to all, any programmer can modify the software to better suit his or her needs and redistribute the improved version to other users. By working together, a community of both users and developers can improve the functionality and quality of the software”. From: E-Zine on CGEY Website Also see http://sourceforge.net/

  6. Lessons Learned • No company is an island. Most companies don’t have • enough ideas, skills, or resources to commercialize • products on their own • Some people can be effective intermediaries. (depends on • their position and actions)

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