ESADE professor Wim Vanhaverbeke has delivered today one of the main keynote speeches at the 7th IEEE International Conference on Management of Innovation and Technology (ICMIT2014). His talk has touched upon the highly relevant (and enduring) management problems companies face when implementing Open Innovation.
While the benefits of Open Innovation (OI) are well understood by practitioners and academics, many companies still fail to implement it. The root cause of this phenomenon is that firms are required to change their strategy and internal organizational structure and processes to collaborate successfully with innovation partners. Consequently, many organizations are reaching out to external partners without the necessary internal organization and management.
In addition to being highly relevant in practice, the theme also commands further research. To date, the management problems companies face when implementing OI have been insufficiently documented in the academic literature, where accounts remain few.
Given all these facts, my keynote will focus on how companies can be optimally prepared to implement Open Innovation successfully. Not surprisingly, this exercise requires a number of actions that that need to reinforce each other. Stressing an earlier point: I feel it is remarkable that the existing literature has not formulated yet clear guidelines on how companies should manage OI. Hence, my presentation will focus on 10 critical points of attention:
- Connecting OI to a firm’s strategy
- The role of organizational culture and top management
- Developing new organizational processes and structures that support OI
- The need to align Open Innovation and Human Resource Management
- The changing role of the R&D department
- Developing new IP-strategies aligned to the objectives of OI
- The need to develop an OI team; its role and structure
- Making effective use of OI services providers and innomediaries
- Evaluating the success of OI activities. What are the right KPIs and what are appropriate metrics and reporting for OI?
- How companies can move from closed to Open Innovation
The 7th IEEE International Conference on Management of Innovation and Technology (ICMIT2014) is being held in Singapore between the 23rd and 25th of September 2014. On this occasion, ICMIT2014 has invited scholars and practitioners to come together and share the latest developments in the field of innovation and technology management.