Four Innovation Methodologies
An article on the Innovation Excellence website outlined and described four evolving innovation methodologies. Closed innovation–R&D departments work in strict isolation to develop new products and new processes with the objective of developing a competitive advantage. Collaborative innovation–companies co-develop with selected partner suppliers, new products and manufacturing solutions. Open innovation–technologies, patents and licenses flow in and out of a company, through partnership with universities, research centers, competitors and so on; the flow is both inbound and outbound. Co-innovation–core to this approach is collective intelligence which is now possible to formally organize in three pillars: converges of ideas, collaborative arrangement, and co-creation of experiences.