Open Innovation Results

Description

We live in an age of exponential technology, but this is not so new. Indeed, technological innovation has been promoted so assiduously for so long that there is now a discernible pattern to its emergence known as the Gartner Hype Cycle. Open innovation is no exception. In this book Henry Chesbrough, the originator of open innovation, examines the hype behind its practice, shows where real results are taking place, and explains how companies can move beyond the hype to achieve real business results.

The book begins with an exponential paradox; new technologies are emerging at an accelerating rate, yet we continue to see stagnant wages and lagging production. These realities are hard to reconcile with the promise of exponential technologies. A closer look suggests that exponential advocates are paying too little attention to the broad dissemination and absorption of a new technology before it delivers real profit and social benefit.

To get valuable results from innovation, businesses must open up their innovation processes and finish more of what they start. They need to open their knowledge flows to generate new growth, and unused internal knowledge must flow openly to others to generate new revenue and future business opportunities. Many of the best known aspects of open innovation such as crowdsourcing, open source software, or innovation intermediaries are often not well connected to the rest of the organization. Using numerous real-world examples of these methods in practice, Chesbrough illustrates how they can, and must, be used in connection to the organization as a whole in order to have real long-term value.

Open Innovation Results offers a clear-eyed view of the challenges and realities that limit the ability of organizations to create and profit from innovation. Whether in the largest companies or in a small business, an advanced economy or a rural village, this book charts a course to enhance organizational growth and performance.

About the Author

Henry Chesbrough is Adjunct Professor and Faculty Director of the Garwood Center for Corporate Innovation at UC Berkeley's Haas School of Business. He is also the LUISS Chair Professor of Open Innovation at LUISS University in Rome. He is the author of several management books on innovation: Open Services Innovation (Jossey-Bass, 2011), Open Business Models (Harvard Business School Press, 2006), and Open Innovation (Harvard Business School Press, 2003). He has won numerous awards for his work, including two honorary doctorates, the IRI Medal of Achievement, and the Innovation Luminary award from the European Commission. He has been named in the Thinkers 50 list of top management thinkers four successive times, and recognized as one of the top 50 business and technology leaders by Scientific American.

Reviews

"Henry Chesbrough has this unique ability to transform complex concepts into messages that everyone can relate. en Innovation Results links for the first time the effects of the financial crisis on innovation and therefore on long-term productivity. It is a must read for politicians, policy-makers and business leaders that want to make a difference by designing the right policies that drive not only the generation of new ideas but more importantly their broad dissemination and adoption by society." - Carlos Moedas, EU Commissioner for Research, Science and Innovation

"At Enel, Open Innovation is combined with Sustainability,to make what we callInnovability, which we haveembedded in our business model and our operations. They create shared value for the Company and all of its stakeholders. Open Innovation Results addresses the changing environment in which most companies operate by moving past the hype of Open Innovation, putting theory into practice and achieving tangible results." - Francesco Starace, CEO and General Manager, Enel

"Open Innovation Results offers extensive insights into how organizations today can best innovate by showing the highly effective and practical ways of innovation across boundaries. To put it simply, Chesbrough shows us how carry out innovationwiselyin this day and age." - Ikujiro Nonaka, Professor Emeritus at Hitotsubashi University Business School

"In Open Innovation for Results, Chesbrough presents a bold yet practical guide to harnessing the extraordinary power of boundary-spanning innovation. Taking a systemic view of innovation, he lays out a powerful and convincing case for infusing the spirit of openness into every aspect of the innovation process. This is essential reading for anyone who understands there are only two choices today: innovate or evaporate." - Gary Hamel, Gary Hamel, director of Management Innovation eXchange, ranked by the Wall Street Journal as the worlds most influential business thinker

"In this powerful and well researched book, Chesbrough builds out the open innovation paradigm by showing organizational leaders how to go beyond the generation of new technology, to leverage two additional processes those of dissemination and absorption to truly realize the power of open innovation." - Rita McGrath, Professor at Columbia Business School, and author of Seeing Around Corners: How to Spot Inflection Points in Business Before They Happen

"Open Innovation Results is Chesbroughs most ambitious and expansive view yet of this important concept. It breaks new ground, linking open innovation not only to enterprise performance but to national economic growth as well. There are important insights into the difference between open and free innovation, along with insightful characterizations of Chinas use of open innovation practices and policies." - David Teece, Thomas Tusher Professor in Global Business, UC Berkeley

Table of contents

Introduction
1: The Exponential Paradox
2: Open Innovation in the 21st Century
3: From Open Science to Open Innovation
4: The Back End of Open Innovation
5: Lean Startup and Open Innovation
6: Engaging with Startups to Enhance Corporate Innovation
7: Open Innovation Results in Smart Cities and Smart Villages
8: Open Innovation Best Practices
9: Open Innovation with Chinese Characteristics