It seems that many companies converted to open innovation-relying on outsiders for their next products or services-only after falling into a crisis. Moreover, the panic struck most of them around the time of the previous recession in 2001, which suggests that we should start seeing many more open-innovation practitioners soon.
Among those that found religion a decade ago are Johnson & Johnson, Procter & Gamble and Whirlpool. Others which came to open innovation more recently after moments of doubt are Rockwell Collins and the consumer-products unit of GlaxoSmithkline. As Cheryl Perkins, former chief innovation officer at Kimberly-Clark and now president of her own consultancy, Innovationedge, says: "Often open innovation starts with a burning platform."
Read Full Article
Timely, incisive articles delivered directly to your inbox.