Open Innovation: Needs versus Opportunities


Share on LinkedIn

Too often, open innovation initiatives at big companies focus on needs – and needs only. You have a specific challenge to solve, you write up rfp’s and you reach out in your network.

Solving problems is an important element of open innovation and it can bring lots of value. However, if you only focus on needs, you miss out on the big potential that comes with also being open to unexpected opportunities.

How innovation happens is changing and there are at least two important things on this. One is that innovation happens in ecosystems where the combination of different resources can result in unexpected opportunites – if you reach out for this and are prepared to deal with it.

The other thing is that innovation is becoming more and more about business models rather than being just about the product, service or technology. You need to have a more holistic approach and think in terms of a bigger picture. You simply need to be open to unexpected opportunities in order to out-innovate your competitors whether they are other big companies or smaller companies backed by venture capitalists.

So to my dear friends at corporate innovation teams, go beyond rfp’s and needs and open up your eyes and as well as your processes for unexpected opportunities.

Just a reminder to all of us : – )

Republished with author's permission from original post.

Stefan Lindegaard
Stefan is an author, speaker, facilitator and consultant focusing on open innovation, social media tools and intrapreneurship.


Please use comments to add value to the discussion. Maximum one link to an educational blog post or article. We will NOT PUBLISH brief comments like "good post," comments that mainly promote links, or comments with links to companies, products, or services.

Please enter your comment!
Please enter your name here