Section » Commodity Trap
How the Internet is Revitalizing the Innovation Prize Model
In his May 21 “New York Times” online article “Change the World, and Win Fabulous Prizes,” Steve Lohr provides a history of the prize model and discusses current open innovation contests. Josh Lerner, a professor at the Harvard Business School, is quoted in the article and explains that the proliferation of prizes is part of the larger trend
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Strategy + Business Thought Leader Interview with Henry Chesbrough
In a conversation with “strategy + business,” Professor Henry Chesbrough argues that for companies “to escape the commodity trap — and to compete effectively in a knowledge-based economy — business leaders of all kinds need to reinvent themselves as innovators in services.”
Innovating Customer Service
In his article “Innovating the Customer Experience,” Peter J. Auditore argues that “Building a culture of collaboration isn’t the instant answer to creating innovation or innovating your customer’s experience. However, leveraging the newest collaborative applications can help find your innovators
Use Open Services Innovation to Restore US Competitiveness
As the US economy begins to recover from the devastating recession of 2008 and 2009, our trade deficit with China is again growing. The rise of China and other emerging economies is triggering reflection here in the US about
Role of Marketing Departments in Open Innovation Efforts
According to Lisa Thorell, “several actors within the marketing department, from market research, corporate communications, channel marketing, to marketing programs, may all play key parts at the very outset of partner negotiations to decrease time to market and reduce business risk” when small companies
Conference: Business Model Innovation in Services
“Business Model Innovation in Services: Delivering Competitive Advantage” is a one-day industry conference taking place Wednesday, September 21 at the Moller Centre in Cambridge, UK. The conference will bring together service thought leaders to present their views on service business model innovation
Opening Innovation to Others Key to Success
In her Contra Costa Times article, Financial Columnist Tapan Munroe discusses how open innovation is a strategy for U.S. businesses to be more competitive as our economy shifts increasingly to services and our manufacturing moves to lower-cost countries. Professor Henry Chesbrough is quoted in the article
From Products to Services: How Medellín, Colombia is Overcoming the Commodity Trap
I was just reminded of the importance of thinking of a product business as a service. I am just returning from an event in Medellín, Colombia, along with Ken Morse and Carter Williams, formerly from MIT and Boeing, respectively. There, the three of us discussed innovation, with the goal of helping
Video: Henry Chesbrough Rethinks the Concept of Open Innovation
In his new book, “Open Services Innovation,” Professor Henry Chesbrough rethinks the concept of open innovation to tackle a new economy. Chesbrough offers the tools to apply service-focused
Update: Twitter Chat on Open Services Innovation with Henry Chesbrough and Stefan Lindegaard
UPDATE: To read this conversation, please visit the #15inno hashtag and read Nannette Stangle-Castor’s summary on her Fuentek Intellectual Property Management Blog. —- On Monday, March