Five Innovation Rules
October 20, 2013 Editor 0
An article on the Chicago Tribune website listed “Five Innovation Rules.” One of the key rules is “Openness Trumps Secrecy.” The article cites Cisco which rather than maintaining a large R&D effort, scanned the world for smart technology developed by other companies. Often, these were startups formed by engineers at companies like Lucent, and Cisco would partner with them, invest in them or buy then outright. That, in essence, is the reasoning behind open innovation. No matter how innovative your organization is, most of the smartest ideas are going to be developed somewhere else. So, while protecting proprietary information remains important, you need to make sure that you don’t close yourself off.
Click here to read the full article.
Categories: Open Innovation
Subscribe to our stories
- Virtual reality as an urban tourism destination marketing tool January 26, 2020
- Exploring VR experiences of tourists' attachment to a rural destination January 26, 2020
- Sustainable intensification: Is a systems perspective essential for integrated crop-livestock systems? January 16, 2020
- Disseminating maize agronomy technologies using interactive voice response in Malawi–the opportunities and pitfalls January 12, 2020
- Towards a communication-based typology of management control modes: showing the relevance of communicative action for entrepreneurial settings December 24, 2019