Open Innovation is an attractive business model. There is often resistance towards true open innovation. The 3rd party innovation market is maturing with a myriad of players (NineSigma, Hypios, Ideascale, Induct Software, Innocentive, GLG, Skillbridge, Zintro). The next generation open innovation is very different.
Spreading the word is not about learning the best social media technique. According to neuroscientist Emily Falk, the essence of a viral message is that the author cares deeply about it. If you care about something, your message is heartfelt and you naturally want to spread it. People pick up on that, so it spreads.
Blogs became indispensable part of the media landscape at least a decade ago. It is now an established, but simultaneously an ever changing format of public expression. Most companies rely on bloggers as part of their media strategy. Some bloggers become public figures.
Each news age has its star. The New York Times, AOL, Yahoo, Google, Facebook and as of this week, Buzzfeed. It is easy to think one player always, briefly, dominates a market. But this is akin to only focusing on the Great Men who changed history, a discredited approach.
Expert networks address a market failure. On the supply side, the world is full of dispersed, skilled individuals who previously did not have a market or who were underutilized. On the demand side, companies face a challenging business reality of constant industry disruption that cannot be resolved by a company’s own employees.
6. Start from scratch: Put “tech trends” into your favorite search engine. Exhausting!
5. Chase the news: Subscribe to 10 different newsletters on technology, business, consulting. Which ones?
4. Ask around in your network. But are your friends up to date?
Harvard’s Lepore and Christensen disagree on the importance of disruptive innovation. But debating whether companies survived or prospered during times of change cannot settle it. The four driving forces of industry disruption are changes in technology, policy, business models, and user dynamics. The forces interrelate.