Many of you will have heard or read the following statement – “innovation is everyone’s responsibility”. It’s often well meaning, intended to invite participation from all the creative minds in the company. However, it’s wrong.
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I’m sure you’ve heard the statement – “we’re doing this innovation for strategic reasons”. Quite often “strategic” used in this context as a euphemism for “it’s not going to make any money but we need a reason to justify it”. Strategy should rarely be used as the sole reason or even excuse for innovation. It should always be strategic and make money.
Open Innovation (OI) offers companies greater opportunities for innovative products and services by increasing the access to inventions, technologies and products that other companies possess. In order for it to work effectively, it must be internalized in a way that gets a project moving fast. This is a key part of the process and certain people can play a key role.
The obituaries and tributes are fulsome and quite rightly so. Steve Jobs was an extraordinary man who built Apple into an extraordinary company. In the best tradition of declaring interests, let me say that I am also an Apple loyalist, an iPhile. I love the products, so my views may be slightly biased when I say that the Apple of the last 10 years is one of the most successful business stories ever.