Why Organizations Must Reinvent Their Talent Strategy And Embrace Open Innovation
A Forbes website article discussed how two two companies were implementing opening innovation and presented ideas about how businesses can introduce open innovation in their companies. Eli Lilly bases its open innovation on collaboration. The company’s objective is to discover molecules with the potential to become medicines and its Open Innovation
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Why Pharma Needs to be More Lego to Stay Relevant
The PR Week website reported that back at the beginning of the 2000s, LEGO was logging its largest losses for years and possibly facing bankruptcy. Its central efforts to be relevant again to its customers were not working. That is, until it asked its customers. LEGO embraced the then-novel idea of
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LEGO Group Announces New Open Innovation Scheme
The BrickFanatics website announced that the LEGO Group is opening up the doors of the Creative Play Lab in a new approach to innovation. For years, the LEGO Group has developed new concepts and innovations behind closed doors. Now, the Billund, Denmark based business has announced “a new strategic
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How to Find New Ideas Inside and Outside the Company
The Harvard Business Review website reported on a new study which noted that many companies are encouraging employees to scout for new ideas among external partners, such as universities, research institutes, competitors, and customers. Much research suggests that exposing employees to a broad range
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Why Innovation Must Come From External Sources
The Marketing Mag website noted that ten years ago Open Innovation was seen as cutting edge and high risk; what’s emerged is innovation best practice that enables customer collaboration to solve business and social problems with increased speed and efficiency. Conventionally, multinationals have
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Fighting for Innovation Attention
The Innovation Excellence website reported that Apple, Lego, Philips, Samsung, IBM, GSK and, recently, Tata Steel, among many others – all have adopted open innovation initiatives to expand their organizations’ horizons. Open innovation allows you to break down more traditional corporate walls and
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Open Innovation: Involve Customers
An article on the LinkedIn website noted that when it is executed correctly there are a plethora of benefits to Open Innovation. One of the most beneficial consequences is the organic publicity that this type of platform generates, with individual proposals receiving hundreds of thousands of views, and
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Open to Innovation
The Financial Express website reported that the Mahindra Group launched India’s biggest innovation prize—the ‘Rise Prize’ which offers $1 million for ideas and innovations involving the ‘Mobility Challenge’, which invites solutions for driverless cars in India, and the Solar Challenge for
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Tasks Of A Chief Innovation Officer
An article on the Forbes website focused on external activities to make firms more innovative. The primary external activities to make organizations more innovative include: 1. Communicating idea sourcing needs/challenges to external communities; 2. Creating internal teams, often as part of Open Innovation
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Is Open Innovation the Future of Academic Research?
The Dzone website posted an article which noted that organisations from a wide range of sectors are now opening up their innovation processes to people outside of their organization. GE for instance has EcoMagination and their recent partnership with Quirky. Lego has their Cuusoo platform. DARPA
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