An End to In-House Innovation

By • on March 20, 2019

The Times of Israel website noted that the factors that lead to the growth of this new approach [open innovation] include: the increasing availability and mobility of experts in the field of innovation; the increasing availability of capital; more opportunities for realizing the potential of innovation; and a growing number of clients, suppliers and other entities which become relevant to collaborative efforts. Experience shows that the process of open innovation motivates strong employee involvement in innovation, even encouraging in-house innovation as a side effect. In order to initiate a process of open innovation, managers must first leave behind their traditional way of thinking – that all answers are to be found among company employees – and open up to the idea that external factors bear a strong influence on the company’s future, power to innovate and value.

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