Walking Before running: top 5 Capabilities to Be mastered for successful open innovation
Many organizations view Open Innovation as a distinct new process for idea generation, problem-solving, and idea selection despite years of successful innovation within the enterprise. In fact, successful Open Innovation demands that large organizations master five capabilities in their own internal crowdsourcing and discovery initiatives. Drawn from case researching spanning more than 100 organizations, Luis will share an informative point of view on the essential top 5 capabilities, how to assess your current state of competency in each, and the important ways to match these capabilities to successful Open Innovation execution. key areas of focus include:
• Leadership
• mindset
• Discovery Skills
• Hand-Offs
An in demand innovation speaker, Luis is an entrepreneur, private equity investor, technology executive and a CXO advisor on business transformation for growth. He leads Imaginatik in North America. His two sons, and more than 20 great ski resorts in Colorado, keep him grounded. His first book "Innovation Alchemists" will be published in March 2014. He credits his career success to unjustified optimism and generally breaking the rules.
ITERATION: Another obvious element of innovation is frequent and rapid trial and error. In innovation cultures ideas come to life quickly and are just as quickly evaluated, modified, changed, and fiddled with. Innovators tend to pivot quickly and frequently. The pivot transaction – the ability to evaluate and quickly change a strategy or tactic – is fundamental to innovation. And it is also directly dependent on trust. Absent trust, pivots are slower, iteration is sluggish, and change is hesitant.