Innovation is key

A guide to Efficient Open Innovation

Benefits and challenges - A European perspective

An increasingly global business environment combined with rapid technological progress has changed the framework in which companies operate.

A guide to Efficient Open Innovation

The text below is an extract – you can download the entire article at the top of the page.

Confronted with this growing complexity in combination with growing customer demands, fierce competition and market pressure, companies have started to recognise that the invent-it-ourselves” model is no longer sufficient to stay competitive.

The model is both too slow and costly, and does not provide the right access to technologies and talent. The focus for many companies has changed from continuous development to rapidly develop and test new business models in the market. Open Innovation (OI) is key to tackle these challenges. When considering an innovation process, companies need to have the right answers to major challenges and questions, such as:

  • What kind of OI is best for my organisation?
  • Are we part of the right ecosystem?
  • How do we access appropriate technological facilities?
  • What about our human capital? Do we know how to respond to this crucial factor for OI success?
  • Are there any successful business models? Which one fits our organisation?

You will find the answers to these questions in this report, which features the results of ACE’s 2012 OI survey, and highlights the success factors for OI. Like previous ACE reports, this study is based on four elements:

  1. ACE 2012 OI Survey carried out amongst our clients and business contacts during the summer of 2012.
  2. A selection of interviews that ACE held with experts and role model companies.
  3. ACE OI project experience as business consultants across Europe (ACE case studies).
  4. Related literature and other case studies (independent ACE research 2012).

We hope this report inspires you to (further) open up your own innovation process, so you too can benefit from its many advantages. We would like to thank all of our clients and business contacts for their support, and sharing their views and opinions on the different aspects of OI. We also appreciate the opportunity to have interviewed Wim Vanhaverbeke, an international expert on OI processes.

Henrik Sonnenberg
Henrik Sonnenberg
+45 2338 0031