Are you listening ?
Chances are your company’s next great idea will come from your employees, suppliers, customers or partners. Are you sure you’re listening ?
Nothing separates the winners and losers in an industry like the ability to innovate. In just about all industry sectors, the 25% most innovative companies have 2.5 times as many new products and get 10 times the return on their innovation investment when compared to the least innovative ones (Arthur D. Little, 2006).
Where do innovative ideas come from ?:
Business are finding that, when equipped with familiar tools, employees naturally group themselves into strong communities of interest, where they are intrinsically motivated to collaborate and create. The resulting content is often far superior to what is collected through traditional, centralized knowledge management efforts.
Companies in which employees spend more time interacting are among the top value creators (McKinsey, 2006).
Successful innovation requires two ingredients: curious, passionate, thoughtful people and freely flowing information. Unlike closed innovation, open or community-based innovation connects an enterprise to it’s wider audience of customers, buyers, sellers, vendors, analysts, experts, academicians, and other stakeholders. The network not only allows information to flow easily, but also gives curious and passionate people a place to discuss their ideas.
Great companies aren’t only relying on the brilliance of their employees, but also tap into the curiosity, passion, and creativity of their innovation community – their customers, partners, analysts, and, yes, even suppliers.
Nothing separates the winners and losers in an industry like the ability to innovate. In just about all industry sectors, the 25% most innovative companies have 2.5 times as many new products and get 10 times the return on their innovation investment when compared to the least innovative ones (Arthur D. Little, 2006).
Where do innovative ideas come from ?:
- 46% from customers, suppliers, or market intelligence
- 29% from employees
- 11% from specialists
- 9% from R&D
- 5% from competitors
Business are finding that, when equipped with familiar tools, employees naturally group themselves into strong communities of interest, where they are intrinsically motivated to collaborate and create. The resulting content is often far superior to what is collected through traditional, centralized knowledge management efforts.
Companies in which employees spend more time interacting are among the top value creators (McKinsey, 2006).
Successful innovation requires two ingredients: curious, passionate, thoughtful people and freely flowing information. Unlike closed innovation, open or community-based innovation connects an enterprise to it’s wider audience of customers, buyers, sellers, vendors, analysts, experts, academicians, and other stakeholders. The network not only allows information to flow easily, but also gives curious and passionate people a place to discuss their ideas.
Great companies aren’t only relying on the brilliance of their employees, but also tap into the curiosity, passion, and creativity of their innovation community – their customers, partners, analysts, and, yes, even suppliers.
