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Module 2: Main pillars of open innovation strategy |
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Ewa Kopczynska |
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To benefit from Open Innovation, your company will need an effective strategy accounting for your organisational vision and resource limitations. In this module, you will learn about the key elements of an Open Innovation strategy, such as creating a clear vision of Open Innovation strategy and activities and how to identify needs for external resources in the scope of innovation process. Going through the module, always keep your specific SME in mind to relate the contents to your specific context. |
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Upon completing this module, you should be able to: |
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Process of innovation
For successful innovation implementation of a successful innovation process across all the phases is necessary. The process can be described as the following sequence of steps:
Figure 1. Stages of the innovation process
The process of innovation does not need to occur in a linear way, as in many cases your innovation team will need to move back and forth between the phases. For example, imagine that you are looking for a new way of packaging your product in a more sustainable manner, but at the stage of feasibility the chosen solutions proved to be impossible to implement, due to high costs of the solution. That may require going back to the ideation stage. However, the process of innovation will proceed in your specific case, innovation will require implementation of activities across all the stages.
As you learnt in a previous module, your company to innovate can:
1/ manage/perform all the innovation activities across the innovation process internally – in case of in-house/closed innovation approach or,
2/ can divide/share the activities across the innovation process with partners with complementary capacities – in case of Open Innovation.
Choosing between the closed or open model of innovation will be one of the first strategic decisions that you need to take while preparing your strategy and implementing Open Innovation.
