Many technical obstacles to effective innovation no longer exist: today, companies possess global networks that can connect with knowledge from virtually any source. Today's challenge is to collaboratively transformthat knowledge into higher-value innovation. The Open Innovation Marketplace introduces groundbreaking strategies and models for consistently achieving this goal.
Authors Alpheus Bingham and Dwayne Spradlin draw on their own experience building InnoCentive, the pioneering global platform for open innovation (a.k.a. “crowdsourcing”). Writing for business executives, R&D leaders, and innovation strategists, Bingham and Spradlin demonstrate how to dramatically increase the flow of high-value ideas and innovative solutions both within enterprises and beyond their boundaries. They show:
- Why open innovation works so well.
- How to use open innovation to become more agile and entrepreneurial.
- How to access Idea Markets more quickly, and get more value from them.
- How to overcome new forms of “Not Invented Here” syndrome.
- How to implement cultural, organizational, and management changes that lead to greater innovation.
- New trends in open innovation-and the opportunities they present.
The authors present many new open innovation case studies, from P&G and Eli Lilly to NASA and the City of Chicago.
“Seldom is there a book on innovation that aims to innovate both the innovation process and the firm itself. This book shoots high and delivers! The Open Innovation Marketplace is both inspirational and practical. It lays out the foundations for a new kind of twenty-first century firm-the Challenge Driven Enterprise-that is agile, fast, and can leverage capabilities from around the world.”
-John Seely Brown, Cochair, Deloitte Center for the Edge; Former Chief Scientist, Xerox Corp; and Director, Xerox Palo Alto Research Center (PARC)
“Many people talk about how work is changing, but Alpheus Bingham and Dwayne Spradlin have actually lived it. This fascinating report from the front lines of open innovation is filled with deep insights for all organizations.”
-Thomas Malone, MIT Sloan School of Management and Author of The Future of Work
The Open Innovation Marketplace introduces groundbreaking strategies and models for leveraging the world's best innovation sources to drive far more value from new products, services, and business models-and do it with far less risk.
Alpheus Bingham and Dwayne Spradlin draw on their pioneering experience building InnoCentive, the leading global platform for open innovation. Writing for CxOs, R&D leaders, and innovation strategists, they show how to dramatically increase the flow of high-value innovations, access innovators you would never hire internally, and successfully integrate external innovation throughout your business.
Through illustrative case studies, Bingham and Spradlin demonstrate open innovation at work in pharmaceuticals, consumer products, software, aeronautics, and beyond. They show how to construct “challenges” that focus innovation on critical business needs, can attract breakthrough strategies and solutions, and how to transform your enterprise to do it over and over again.
- Integrate multiple innovation channels in one high-value framework
How to successfully choose and integrate complementary innovation sources - Access the “long tail” of expertise and a whole world of innovators on demand
Tap innovation from an entire planet of creative and passionate problem solvers - Gain the breakthrough benefits of a Challenge Driven Enterprise
Virtualize and transform your business for twenty-first century competitiveness - Reengineer your organization to enable open innovation and better business practices
Overcome the Not Invented Here (NIH) mentality and unleash your organization's innovation potential
