Is Open Innovation A Risk Worth Taking?

By • on July 28, 2017

The Innovation Enterprise website noted that since the term was first coined in 2003 by Henry Chesbrough in his book ‘Open Innovation: The New Imperative,’ many organizations and governments have implemented Open Innovation programs to tremendous success. Open innovation works so well because it puts the emphasis on diversity and serendipity. The more diverse the input, the more relevant the solutions. We are increasingly breaking down expertise silos, and increasingly realizing that all roles are connected. The best ideas don’t come from experts alone, they also emerge from the random collision of different perspectives. However, while there are clear advantages to employing Open Innovation, there are also many challenges to overcome and some are still reluctant. We asked seven experts from best-in-class organizations why they thought it was a risk work taking.

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