Leading Through Innovation
The Star Online website reported that Dr. Xiangli Chen, vice president and chief technology officer of the General Electric (GE) Research and Development (R&D) Centre in Shanghai, China commented that GE now practices the concept of open innovation. This is where the company works collaboratively with external parties to co-develop its products. “We cannot just create all the ideas and innovation within GE and then deliver the products to our customers. That’s not good anymore,” Dr Chen points out. “We now have a very open process where we engage customers and identify issues in the early stages of product development.” “The emphasis here is on co-creation. It’s only in the last 10 years or so that we’ve become much more open in our innovation process. We realise that engaging customers early on and bringing in partners to come up with solutions is important. It’s a win-win situation.”
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