Title:
The open innovation marketplace : creating value in the challenge driven enterprise
Personal Author:
Publication Information:
Upper Saddle River, N.J. : FT Press, c2011.
Physical Description:
xxiii, 242 p. : ill. ; 24 cm.
ISBN:
9780132311830
Added Author:
Available:*
Library | Item Barcode | Call Number | Material Type | Item Category 1 | Status |
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Searching... | 30000010281017 | HD45 B525 2011 | Open Access Book | Book | Searching... |
Searching... | 30000010297313 | HD45 B525 2011 | Open Access Book | Book | Searching... |
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Summary
Summary
Many technical obstacles to effective innovation no longer exist: today, companies possess global networks that can connect with knowledge from virtually any source. Today's challenge is to collaboratively transformthat knowledge into higher-value innovation. The Open Innovation Marketplace introduces groundbreaking strategies and models for consistently achieving this goal.
Authors Alpheus Bingham and Dwayne Spradlin draw on their own experience building InnoCentive, the pioneering global platform for open innovation (a.k.a. "crowdsourcing"). Writing for business executives, R&D leaders, and innovation strategists, Bingham and Spradlin demonstrate how to dramatically increase the flow of high-value ideas and innovative solutions both within enterprises and beyond their boundaries. They show: Why open innovation works so well. How to use open innovation to become more agile and entrepreneurial. How to access Idea Markets more quickly, and get more value from them. How to overcome new forms of "Not Invented Here" syndrome. How to implement cultural, organizational, and management changes that lead to greater innovation. New trends in open innovation-and the opportunities they present. The authors present many new open innovation case studies, from P&G and Eli Lilly to NASA and the City of Chicago.Author Notes
Alpheus Bingham is a pioneer in the field of open innovation and an advocate of collaborative approaches to research and development. He is co-founder and former president and chief executive officer of InnoCentive.
nbsp; Alpheus spent more than 25 years with Eli Lilly and Company; he retired as vice president of e.Lilly and vice president of Research Strategy. He had formerly been the vice president of Sourcing Innovation. He served on both the R&D Policy Committee and the corporate Operations Committee. He has deep experience in pharmaceutical research and development, research acquisitions and collaborations, and R&D strategic planning. During his career, he was instrumental in creating and developing Lilly''s portfolio management process and establishing the divisions of Research Acquisitions, the Office of Alliance Management, and e.Lilly, a business innovation unit, from which was launched various other ventures that create the advantages of open and networked organizational structures, including InnoCentive, YourEncore, Inc., Coalesix, Inc., Maaguzi, Inc., Indigo Biosystems, Seriosity, Chorus, and Collaborative Drug Discovery, Inc. nbsp; He currently serves on the Board of Directors of InnoCentive and Collaborative Drug Discovery, Inc.; the advisory boards of the Center for Collective Intelligence at MIT and the Business Innovation Factory, and as a member of the board of trustees of the Bankinter Foundation for Innovation in Madrid. nbsp; He has lectured extensively at both national and international events and serves as a Visiting Scholar at the National Center for Supercomputing Application at the University of Illinois at Champaign-Urbana. He is also the former chairman of the Board of Editors of the Research Technology Management Journal . Alpheus was the recipient of The Economist''s Fourth Annual Innovation Summit "Business Process Award" for InnoCentive. He was also named as one of Project Management Institute''s "Power 50" leaders in October 2005. nbsp; Alpheus received a B.S. degree in chemistry from Brigham Young University and a Ph.D. degree in organic chemistry from Stanford University. nbsp; Dwayne Spradlin has been on the forefront of business innovation and leadership for more than 20 years. He is intensely focused on two areas: finding new ways to unleash and focus human potential using technology and defining the role of leadership in driving change in our businesses and culture. nbsp; Dwayne serves as president and chief executive officer at InnoCentive, the global leader in Open Innovation. Previous positions have included president of Hoovers Online, president and COO of StarCite, senior vice president of Corporate Development VerticalNet, and director at PriceWaterhouseCoopers, where he spent ten years delivering Technology and Strategy solutions to Fortune 500 clients including Intel, Compaq, Caremark, and United Airlines. nbsp; Dwayne currently sits on the Board of Directors of both InnoCentive and Cortera. nbsp; Considered an authority on crowdsourcing, Open Innovation, and the role of Innovation in Philanthropy, Dwayne has been a keynote speaker at events on five continents, He is frequently interviewed and has been featured on CNBC, ABC, NPR, and BBC and quoted in the Economist , BusinessWeek , The New York Times , and many other journals and periodicals. nbsp; Dwayne holds a B.A. degree in applied mathematics and an M.B.A. degree from the University of Chicago. He lives in Southlake, TX, with his wife and three children. nbsp;Table of Contents
Foreword | p. xiii |
Acknowledgments | p. xviii |
About the Authors | p. xix |
Preface | p. xxi |
Chapter 1 Introduction | p. 1 |
Placing Bets | p. 1 |
Managing the Innovation Process | p. 3 |
Balancing a Portfolio | p. 5 |
False Positives Versus False Negatives | p. 8 |
Rationalizing Innovation Failure | p. 10 |
Portfolio Management and Open Innovation | p. 11 |
Meta-Innovation | p. 15 |
Prize Philanthropy | p. 16 |
Problem Solving Versus Question Asking | p. 17 |
Part I Challenge Driven Innovation: How a Marketplace of Innovation Allows Us to Reframe the Innovation Model, Improve Performance, and Manage Risk | |
Chapter 2 The Future of Value Creation | p. 21 |
Overview | p. 21 |
Transaction Costs and Vertical Integration | p. 22 |
Vertical Disintegration | p. 23 |
Globalization and Competition | p. 25 |
Lead Users | p. 26 |
Open Source Software | p. 27 |
Problem Solving in Chat Rooms | p. 28 |
Not by Bread Alone: Diverse Utilities | p. 30 |
Count What Counts | p. 31 |
All of a Sudden | p. 33 |
Case Study: How Orchestration Creates Value for Li and Fung | p. 35 |
Chapter 3 A New Innovation Framework | p. 39 |
Overview | p. 39 |
Open Innovation's Unique Potential | p. 40 |
A Rational Compromise | p. 42 |
Exploring Problem-Solving Diversity | p. 43 |
Risk Sharing | p. 44 |
Innovation Marketplaces | p. 46 |
Historical Stage-Gate Processes | p. 47 |
Seven Stages of Challenge Driven Innovation | p. 49 |
The Future of Work and the Workplace | p. 52 |
Innovation Tasks: Internal and External | p. 54 |
Not-for-Profit Organizations | p. 57 |
Open Medicines Development: Early Steps | p. 58 |
Case Study: How NASA Expanded Its Innovation Framework to Find New Solutions to Old Problems | p. 62 |
Chapter 4 The Long Tail of Expertise | p. 67 |
Overview | p. 67 |
Defining and Hiring Experts | p. 69 |
The Untapped Potential | p. 72 |
Tackling the Long Tail | p. 74 |
Diversity, Marginality, and Serendipity | p. 77 |
The Tear Gas Connection | p. 81 |
Eureka! The Right Question at the Right Time | p. 82 |
Case Study: How the Oil Spill Recovery Institute Tapped the Crowd to Be Better Prepared for Arctic Spills | p. 86 |
Chapter 5 The Selection of Appropriate Innovation Channels | p. 91 |
Overview | p. 91 |
A Channel Decision-Making Tool | p. 94 |
Innovation Channels | p. 95 |
Terms Used in Defining Archetypess | p. 100 |
Project Module Archetypes | p. 102 |
The Challenge Driven Enterprise | p. 109 |
Case Study: How Eli Lilly and Company Is Changing from a Closed Company to an Open Network to Provide Medicines for the Twenty-First Century | p. 110 |
Part II The Challenge Driven Enterprise: Virtualizing the Business Model to Drive Innovation, Agility, and Value Creation | |
Chapter 6 The Challenge Driven Enterprise | p. 117 |
Overview | p. 117 |
What Is a Challenge? | p. 119 |
Hallmarks of the Challenge Driven Enterprise | p. 128 |
The Real Challenge | p. 134 |
Case Study: How Procter & Gamble Is Innovating Through Connect + Develop | p. 135 |
Chapter 7 Transformation | p. 139 |
Overview | p. 139 |
Organizational Forms and the Emergence of a New Paradigm | p. 141 |
The Challenge Driven Enterprise as Business Strategy | p. 144 |
Remaking a Culture | p. 147 |
Talent Management 2.0 | p. 151 |
The Changing Nature of Work | p. 152 |
The Role of Senior Leadership Is to Lead | p. 153 |
The CEO Conundrum | p. 155 |
Make This Your Mission | p. 157 |
Case Study: Virtual Software Development: How TopCoder Is Rewriting the Code | p. 158 |
Chapter 8 The Challenge Driven Enterprise Playbook | p. 163 |
Overview | p. 163 |
The Playbook | p. 164 |
I Board of Directors and C-Level Commitment | p. 165 |
II Promote Early Trial and Adoption | p. 169 |
III Virtualize the Business Strategy | p. 172 |
IV Establish the CEO Mandate | p. 175 |
V Create and Empower the CDE Task Force | p. 178 |
VI Align and ôReadyö the Organization | p. 183 |
VII Select Enablers and Enroll Partners | p. 189 |
Timelines and the Institutionalization of the CDE | p. 191 |
Use the Playbook, Adapt as Needed, and Play to Win | p. 192 |
Case Study: How the Prize4Life Foundation Is Crowdsourcing ALS Research | p. 193 |
Chapter 9 Leadership | p. 199 |
Overview | p. 199 |
Key Points of the Book | p. 200 |
Darwin, Adaptation, and the New Normal | p. 203 |
Joseph Campbell and The Hero's Journey | p. 204 |
The CEOs Journey: Five Essential Waypoints | p. 206 |
The CEO as the Hero | p. 208 |
A Marathon, Not a Sprint | p. 210 |
The CDE, Innovation, and Competing in the Twenty-First Century | p. 211 |
This Will Be Your Legacy | p. 213 |
Case Study: How President Obama's Open Government Initiative Is Reinventing Government and Changing Culture | p. 214 |
Afterword | p. 219 |
Endnotes | p. 221 |
Supplemental Reading | p. 227 |
Index | p. 229 |