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Exploiting Open Innovation and Collaboration - Coggle Diagram
Exploiting Open Innovation and Collaboration
Benefits & Challenges of Open Innovation
six principles of open innovation
Tap into external knowledge
External R&D has a significant value
Do not have to originate research in order to profit from it
Building a better business model is superior to being first to market
best use of internal and external ideas, not generation of ideas
profits from others intellectual property(inbound OI) and others use of our intellectual property (outbound IP)
potential benefits
increase the pool of knowledge
reduce reliance limited internal knowledge
reduce the cost and uncertainty associated with internal R&D and increase depth and breadth of R&D
reduce cost of internal R&D, more resources on external search strategies and relationship
greater emphasis on capturing rather than creating value
better balance of resources to search and identify ideas, rather than generate
value of IP very sensitive to complementary capabilities such as brand, sales network, production, logistics, and complementary of product and services
challenges to apply
how to search for and identify relevant knowledge sources
how to share or transfer the knowledge especially tacit and systemic
less likely to lead to distinctive capabilities and more difficult to differentiated
first-mover advantages depend on technology and market context
generating ideas is just a small part of the innovation process
negotiation of acceptable forms and terms of IP licenses
Managing Alliances
Common problems with alliances
share hard-earned technical & market knowledge
compromise product specification, development & strategy
danger of leakage of knowledge to third parties
Factors which improve success of an alliance
perceived as important by all partners
alliance ‘champion’ exists
clear plan & milestones agreed
frequent communication between partners
contributions & benefits perceived as fair
high trust between partners, not contractual
Dimensions of trust
network - because I know &/or like you
competence - because I believe you have the skills & know how
commitment - because we are committed to the same goals
problem if network>competence>commitment