Those are some of the essential questions about how to manage the Open Innovation Networks that continue to be asked both by researchers (or problem solvers) and by companies. Those questions have become particularly interesting in face of the rise of pro-collaborative approaches and within the boom of collective intelligence, as a strategic factor of competitive advantages.
Today nobody thinks internal R&D is enough to develop really disruptive product or to work out new processes. Without any external input-impossible! Open innovation paradigm works on the notion that organisations can innovate more quickly, cost-effectively and profitably by combining external capabilities with internal innovation resources.
It’s true that social media makes faster than ever the sharing of information and easier than ever to reconnect with hundreds, if not thousands, of people who could contribute to improving your success rate. So, the Open Innovation can provide organisations with many advantages including:
- Accelerating time-to-market
- Reducing risk in the innovation process
- Lowering innovation, R&D and even operating costs
- Supplementing internal R&D capabilities with external experts
Open innovation is thus a logical step to take for many small firms. The SMEs in low and medium tech industries indicate clearly that firms who know how to manage a network of innovation partners can seize new business opportunities, become key players in growth industries and turn themselves in highly profitable companies. (more…)













