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How do you measure and demonstrate the business value of open innovation?

Since the main purpose of OI is to create new business value, how do you know if you are on track? Even more importantly, what should you do if not? Metrics leaders from Clorox, Johnson Controls Automotive and Campbell Soup discuss key indicators and action steps.
 
Creating more business value through open innovation is also a major theme of CoDev 2015. This highly anticipated event will bring together advanced practitioners from Goodyear, Ford Motor, Johnson & Johnson, Mondelez, Clorox, Campbell Soup, Citi, Amway, Axion Health, DSM, Sanofi, Battelle, JM Smucker, Local Motors and many more to share how their collaborative efforts are generating top line growth.  Details here .
 
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Time to be Thankful

As the busy holiday season is kicking off, we just want to express gratitude for our great customers. We consider ourselves lucky that we are not in retail, waiting on tables, or caught up in shopping madness.  We are fortunate that our interactions with you are intellectually engaging, honest and occasionally even entertaining. So thank you! We hope to see you at one of our upcoming programs -- in the meantime, enjoy the holidays!

Leading Open Innovation and Change – Go ‘All In’ or Go Home

"A central objective is to make people uncomfortable with the status quo and excited about the future state…For change to happen everyone must really want it. They must be all in."   David A. Shore, PhD, Harvard University and author of Launching and Leading Change Initiatives in Health Care Organizations: Managing Successful Projects shares his thoughts on leading change initiatives and creating the buy-in necessary for breakthrough innovation to occur. Interview>

Open Innovation QUICK TIP

How Do You Foster an Innovative Organization?  Cheryl Perkins, CoDev 2015 Chairperson, shares practical insights gained from her experience working with open innovation leaders at companies around the world.  Her first in the series looks at how innovative organizations have a research and discovery culture...more >

>Also see our exclusive interview with Cheryl about what else the OI front runners are doing ...more

New! Open Innovation Leaders Join CoDev Faculty

More open innovation leaders have joined the faculty for CoDev2015: Launching Products and Businesses with Partners, Customers & Ecosystems,

to be held February 9-11, 2015 in Scottsdale, AZ.

 

New keynotes include Debra Brackeen, Managing Director, Global Head, Innovation Network at Citi who will discuss how to drive growth through open innovation, disruption, and corporate venturing. Thomas Carson, President and CEO, Axion Health will share how his company has evolved the role of partnerships and its organizational structure to accelerate product innovation.

 

New panelists are Jim Glasheen, General Partner, Technology PartnersNina Kjellson, General Partner, Interwest Partners; and Ken McLellan, Global Partnerships Leader, R&D, The Clorox Company, who join Ben Wiegand, VP and Global Head of Innovation and New Business Models, J&J Consumer Companies in a robust discussion on how the intersection of consumer health and traditional healthcare delivery today requires greater consumer/patient engagement and involves more stakeholders, including VC partners. This trend is affecting all parts of the innovation process.

For a detailed list of our conference faculty representing CircleUp.com; The Campbell Soup Company, The Goodyear Tire & Rubber Company, Clorox, CleanWell, BASF, Royal DSM, CIMdata, Local Motors, Amway, Battelle, E-Zassi, Mondelez, Rutgers University, and Harvard Universityvisit theCoDev2015 faculty page.  Reserve online --- or call 800-338-2223 or 781-891-8080.

Social Product Development: Can LIKEs and Search Improve Productivity, Knowledge Capture, Collaboration and Innovation? Yes! An Interview with Dr. Suna Polat

As part of our series on Open Innovation Leadership, I was eager to interview Dr. Suna Polat, Director of Collaborative Innovation & Social Product Development at CIMdata (Ann Arbor, MI). I first met Suna many years ago when she was at Procter & Gamble leading strategic innovation and productivity capability implementations. Though already way ahead of the knowledge curve at P&G, she continued to seek and share new insight at conferences. I have always found her to be humble and gracious -- open in the truest sense of the word. Now at CIMdata, her current interests include PLM, connectivity and collaboration in large organizations and networks, organizational culture, and the influence of communities and social networks. Since she will be leading an indepth workshop at CoDev 2015 in February, I thought she'd be the ideal person to ask about the whole "social product development" phenomenon.

 

According to Suna,"With the increase of social environments people are collaborating much more. There’s more open ideation using social platforms within a company. These approaches are also being used for collaboration with customers and partners. Often the innovation outcome is better.”    more>>>>

 

Strategic Planning for products and technology - how roadmaps ensure innovation and corporate growth

Does your organization have a clear innovation strategy that is understood and supported at all levels? Do you know where to focus R&D resources?  Where the market is headed, what your best opportunities are, and what disruptions are possible?

If you want to gain more control over your innovation future, one of the most powerful strategic planning tools is roadmapping -- in particular landscape maps and route maps.

Landscape maps link together market and technology factors, business drivers, capabilities and competitors. Route maps tell you what to do. Dr. Jay Paap has developed a proprietary framework around these maps and has helped many leading companies implement -- with significant results.

For a brief overview and visual picture of Landscape, Route Maps and Dr. Paap's framework, click here.

Open Innovation -- Growth Engine or Resource Drain?

Does Open Innovation really pay off for firms?  Who's getting the most bang for their buck - and how are they doing it?  One of the foremost experts on Open Innovation, Dr. Gene Slowinski has seen the good, the bad, and the ugly of strategic alliances for over 25 years. His advice: Go for alliances that shake up an industry.  It is too easy to underestimate resources and end up spending more than planned without much return. Far better to do a few powerful deals than many which are  marginal. For quick tips on generating profitable growth through Open Innovation, check out our FREE article  Making Open Innovation Alliances Pay Off: 5 Keys to Success.  

Are Your Innovation Investments Paying Back?

Perhaps you're not measuring and managing the right things. If your company is still caught up in the decades-old "sales % from new products" quagmire, you need better metrics. What's wrong with "sales % from new products" as a measure of innovation? The same thing that is wrong with pushing R&D investments down to whatever projects barely clear the hurdle of "new product" and the same thing that is wrong with killing a product that owns the market and has a ridiculously high margin. The popular, but misguided "sales % of new products" drives both of these negative behaviors and reduces your R&D return on investment. 

  • A metric such as "margin growth over sales growth" backed by the following measurable actions including:
  • Patent or idea diffusion (not the number of patents, but how good they are)
  • Portfolio balance based on cash flow and payback 
  • Portfolio rate of return 
  • Customer value to feature match 
  • Early phase research decision autonomy

will drive better returns on your innovation investment. Check out Dr. Robert Tucker's tips on improving innovation metrics.

Tech Scouting & Open Innovation: Practices of Industry Leaders - Free Download

How are companies such as Procter & Gamble, Unilever, GE, GlaxoSmithKline, Kraft, Monsanto, Corning and other global leaders innovating new products, expanding boundaries and growing their businesses? How do they choose their scouts, their partners, and the best opportunities?  For an overview, please download our recent research on the top practices.

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