Innovation Fixer Ltd helps companies improve the effectiveness and efficiency of their innovation
T: +44 (0) 7802 256184
E: kevin [DOT] mcfarthing [AT] innovationfixer [DOT] com
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Innovation in products, services and increasingly business models has endless possibilities. This is not just in what you develop, but also in what you communicate. Clearly innovation and communication to customers should be aligned, with the focus on the product benefits that will be most competitive.
I’ve been involved in a lot of discussions over the last twelve months related to the creation of new business through radical or breakthrough innovation. Some of them have been on collaborative work with the innovative market research agency, BrainJuicer. The essence of the challenge can be summarized as: why can’t large companies create new businesses? Many of the potential reasons were described well by John Kearon, the Chie
Many companies are very proud of their achievements, and usually with good reason. There are very few enterprises that have reached a strong market position with a profitable business through luck alone. Everybody likes to be associated with success, particularly if they really have made a contribution.
Innochat is a weekly Twitter chat involving a wide range of really interesting people from all over the world, linked by one thing – a deep interest and passion for innovation. If you’re on Twitter, and want to join, feel free to connect every Thursday at 12.00 US Eastern time, or visit www.innochat.com for more details, as well as the Twitter feed from recent chats.
The concept of Open Innovation (OI) has gained tremendous traction in recent years, as companies realize the potential offered by capabilities, technology and resource outside the organization’s borders. The OI principles outlined in Henry Chesbrough’s eponymous book from 2003 fall into two main areas, “inside out” when your assets are used by others; and “outside in” when you use other people’s. Most OI uses the latter approach, and companies who employ it well need to consider many different things, one of which is how to structure and organize their OI efforts.
