Open Innovation
Open innovation has several advantages over closed innovation in any organization. In order to have a successful open innovation program in your organization it is essential to have a process or a methodology in managing open innovation. Starting from identifying the technology need that we would scout, locating it, getting that technology transferred and manging such a transfer and making it effective, all need a process and a team to execute it.
Fig 1 : Benefits of Open Innovation
Fig 2 : Process guideline to make a successful Open Innovation Program
Innovation Management
Radical Innovations are different from the simple Incremental Innovations. Either the technology solution or the customer need or both are New then we call that Radical Innovation. Such innovations blows up the system, the industry and allows to embrace the world to the product, process or business model. And a successful commercialization definitely needs a process to implement the technology catering to market or customers. Then we need a process to manage innovation especially for a product/process based Innovation e.g., the well known Stage-Gate® Process where execution of the project work is the stage and decision making process to move from one stage to next is called Gate reviews. So before the new product or process gets commercialized it undergoes several stages and gate reviews.
Fig 3 : Different types of Innovation based on Technology Solution vs Customer (Market) Need
Fig 4 : Innovation Management or Portfolio Management based on Stage-Gate® Processes
Technology Needs and Solutions
Problem solving by Six Sigma methodology is well known in the industrial world. Asking the right questions and identifying the technology need is the very first step.
Fig 5 : Design For Six Sigma (DFSS) process for Technology Problem Solving
