The Open Innovation Marketplace: Creating Value in the Challenge Driven Enterprise
“Seldom is there a book on innovation that aims to innovate both the innovation process and the firm itself. This book shoots high and delivers!The Open Innovation Marketplaceis both inspirational and practical. It lays out the foundations for a new kind of twenty-first century firm–the Challenge Driven Enterprise–that is agile, fast, and can leverage capabilities from around the world.”–John Seely Brown,Cochair, Deloitte Center for the Edge; Former Chief Scientist, Xerox Corp; and Director, Xerox Palo Alto Research Center (PARC) “Many people talk about how work is changing, but Alpheus Bingham and Dwayne Spradlin have actually lived it. This fascinating report from the front lines of open innovation is filled with deep insights for all organizations.”–Thomas Malone,MIT Sloan School of Management and Author ofThe Future of Work The Open Innovation Marketplaceintroduces groundbreaking strategies and models for leveraging the world’s best innovation sources to drive far more value from new products, services, and business models–and do it with far less risk. Alpheus Bingham and Dwayne Spradlin draw on their pioneering experience building InnoCentive, the leading global platform for open innovation. Writing for CxOs, R&D leaders, and innovation strategists, they show how to dramatically increase the flow of high-value innovations, access innovators you would never hire internally, and successfully integrate external innovation throughout your business. Through illustrative case studies, Bingham and Spradlin demonstrate open innovation at work in pharmaceuticals, consumer products, software, aeronautics, and beyond. They show how to construct “challenges” that focus innovation on critical business needs, can attract breakthrough strategies and solutions, and how to transform your enterprise to do it over and over again. Integrate multiple innovation channels in one high-value frameworkHow to successfully choose and integrate complementary innovation sourcesAccess the “long tail” of expertise and a whole world of innovators on demandTap innovation from an entire planet of creative and passionate problem solversGain the breakthrough benefits of a Challenge Driven EnterpriseVirtualize and transform your business for twenty-first century competitivenessReengineer your organization to enable open innovation and better business practicesOvercome the Not Invented Here (NIH) mentality and unleash your organization’s innovation potential