Innovation is not a matter for one man

The Concept of Open Innovation

It often happens… that products and services are launched too late, are not technically successful or do not meet the requirements of the interest groups. The problem behind this is the lack of cooperation partners, a lack of knowledge and expertise as well as a lack of creativity and resources for implementation. This is particularly the case for SMEs. Open Innovation is the solution.

The concept of Open Innovation was first brought to life by Henry Chesbrough. He defines Open Innovation as the use of targeted inflows and outflows of knowledge to accelerate internal innovation or to expand markets for the external use of innovation. From this definition it is clear that there are two sides to open innovation. One is the “outside-in” aspect, in which external ideas and technologies are introduced into one’s own innovation process. This is the most commonly used method of open innovation. The other, less widespread, method is the “Inside out” aspect, in which unused or insufficiently used ideas and technologies are transferred from the company to the outside world in order to incorporate them into the innovation process of others. Both methods are often combined. Open innovation is advantageous for companies because it can reduce costs, accelerate time to market, increase market differentiation and also reduce development risk.

Consumer wishes are taken into account in Open Innovation: A win-win situation.

At the same time, open innovation meets consumer demands, because the Social Web has changed consumer behaviour significantly. Consumers now want and can contribute and share their opinions. Through Open Innovation you can involve your customers in the innovation process. In this way, development is not only close to the customer, but also close to the market. You get more ideas through different perspectives. After all, in today’s knowledge society, knowledge is the most valuable asset, and it is widely available.

So why should a company cooperate with its customers, competitors or others from the outside world? Quite simply in order to use the knowledge and remain competitive, which is becoming more relevant especially for SMEs. After all, customers and competitors or other stakeholders may have a certain knowledge, expertise or resources that your company itself does not have. Your own innovation potential is expanded and increased by involving the outside world. At the same time, you must not be deterred from sharing intellectual property. Instead of protecting it from others, Open Innovation uses it to work together successfully and create a win-win situation.

So how do you create an innovation-friendly mindset in SMEs?

Particularly when the number of employees is still manageable, the chances are particularly high to promote proactive cooperation, starting with the management. Because motivated employees are the success factor par excellence. AnyIdea offers a platform to increase the innovative ability of your company. And that as easy and fast as possible. Because this is where open innovation is practiced. And through innovation, operations become more productive and efficient. At the same time, innovation ensures growth and new market development. With AnyIdea, you can invite not only employees, but also partners, customers, experts, interested parties and many more to innovate together with you. Because innovation is not a matter for one person, it affects everyone.

Ready to start?
Grafik mit Pfeilen: Ready to learn more