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Delivering on the promise of open innovation

Jorge Rufat‐Latre (Chicago‐based Director of Strategos, a global strategy and innovation consulting firm (www.strategos.com))
Amy Muller (Chicago‐based Director of Strategos, a global strategy and innovation consulting firm (www.strategos.com))
Dave Jones (JAssociate at Strategos)

Strategy & Leadership

ISSN: 1087-8572

Article publication date: 9 November 2010

3143

Abstract

Purpose

For all the rhetoric – and hype – about open innovation, the reality is that few corporations have institutionalized open innovation practices in ways that have enabled substantial growth or industry leadership. This paper aims to explain how open innovation can achieve its potential in most companies.

Design/methodology/approach

Three cases of companies that practice various types of open innovation are discussed. The principles of establishing an organizational environment for open innovation are outlined.

Findings

The ability to move into and out of different industries by capitalizing on ideas and concepts from inside and outside the organization – open innovation – has tremendous value.

Practical implications

Without the appropriate mindset and, ultimately, operational structure in place, the promise of open innovation cannot be realized.

Originality/value

For corporate leaders, the paper identifies a key first step – to deliver on the promise of open innovation an organization must start by making the change from a competition‐focused, market‐share mindset to a competence‐based mindset.

Keywords

Citation

Rufat‐Latre, J., Muller, A. and Jones, D. (2010), "Delivering on the promise of open innovation", Strategy & Leadership, Vol. 38 No. 6, pp. 23-28. https://doi.org/10.1108/10878571011088032

Publisher

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Emerald Group Publishing Limited

Copyright © 2010, Emerald Group Publishing Limited

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