Open Innovation: 2 approaches towards value creation
The Imaginatik website noted that Open Innovation is designed to engage folks “out in the world” in a way that adds value to everyone involved. There are two approaches to do so: 1. Exploit OI as a challenge – engaging with folks “out there” of relevance to your operations “within your organizational walls.” This uses OI as one of multiple tools to identify new sources of potential value. 2. See OI as an opportunity to explore new ways to engage customers and to perform new roles within the ecosystems in which they engage. This uses OI as a gentle way to begin to understand what the implications of a new business model might entail.
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