How open innovation can bring ideas to life
How open innovation can bring ideas to life
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Description
In today's rapidly evolving business landscape, organisations are recognising the need to de-risk their innovation efforts. One powerful approach is through cross-industry open innovation. By looking outside their own industry and collaborating with external partners, organisations are able to gain access to fresh perspectives, diverse expertise, and novel ideas that can drive breakthrough innovations while minimising risks.
Ishan Jaithwa, Innovation Manager, New Growth Areas at Cummins discusses the value of open innovation and collaboration both within a business and externally.
Table Of Contents
Framework of innovation
Jaithwa explains the 4C principles and applies them to business situations.
A collaborative success
A case study gives insight to how external help allowed for a new outlook of the market from both a strategic and competitive point of view.
When collaboration fails
Jaithwa shares his experience on where the 4c's allowed him to realise that a collaboration wasn't a good fit.
Choosing when to partner
Jaithwa uses an x and Y axis to explain when the best time is to partner.
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