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Open Innovation

Open Innovation Convincing the Decision Makers

Open Innovation Shouldn't Be a Hard Sell. But, All Too Often, It Is. At Ezassi, we believe whole-heartedly in the importance of Open Innovation for the survival of businesses. That being said, we also fully recognize that convincing decision makers to go forward with Open Innovation initiatives can be a hard sell. It almost seems counterintuitive that the same leaders who were responsible for launching and cultivating a successful business, would be resistant to change even in the face of evolving markets. Yet all too often, that is the case. Open Innovation convincing decision makers should be a primary focus.   This means that it falls on employees to make the case for Open Innovation and convincing the decision makers, which can be a thin line to walk. To help you navigate these choppy waters, we put together a comprehensive guide entitled, “How to Make Open Innovation an Easy Sell in Your Organization,”...

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Innovation is the dynamic process of developing new or disruptive products, methods, or services. It doesn’t occur by accident or in a vacuum. Instead, innovation is guided by leaders who understand its demands and complexities, and are willing to share this knowledge with others. Innovation leaders share specific traits that naturally suit them to this role. These leaders are:...

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FEI Europe — Adapt, disrupt, innovate. This year’s FEI Europe conference in London was full of energy and ideas and I left feeling more motivated and inspired than ever to continue to find new ways to disrupt stale approaches to innovation. While every success should be celebrated, it is vital that companies don’t make the mistake of resting on their laurels. We must continue to innovate and look for new ways to think about and use technology. The good news is that there was plenty of that happening at FEI Europe.   London provided the perfect backdrop for a week of exchanging ideas at FEI Europe. The city is a unique combination of history and modernity that constantly reminds us of the importance of our past and the need to create a better future. It also didn’t hurt that I got the opportunity to meet with other thought leaders and enjoy world class...

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Intellectual Property (IP) Protection is the biggest obstacle to an effective, sustained open innovation initiative. IP protection is complicated because both the company and potential contributors have developed concepts and systems, and sharing them brings risks unless tools are in place to protect it. The challenge is to balance these competing IP needs to assure a continual flow of quality submissions. Ezassi has IP protection built into our robust Idea & Open Innovation Management Solution, allowing organizations to confidently maximize the benefits of an OI system.   The Need for IP Protection for Open Innovation Intellectual Property protection is necessary to Open Innovation for three reasons:   Trust. Open Innovation requires the development of a symbiotic relationship between the Corporation and its contributors. For this to occur, there must be trust between the parties that their IP will not be exploited by the other. An effective IP protection establishes the trust environment.   Reputation. Companies must have...

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FEI Boston Recap

FEI Boston - An Event Grounded in Remarkable People   There were over 500 people at FEI Boston 2017. I’ve been attending and speaking at FEI the last five years and noticed that this year’s attendees were from more diverse areas of responsibility.  For those who did attend you can access the presentations on line at:   Login to FEI Connect Click on the 'Presentation' tab   FEI Boston Highlights   In the next couple of weeks you will receive a link to the FEI Executive Summary. This will include key takeaways, summaries and highlights from the keynote sessions, as well as select track sessions. The goal of the executive summary is to ensure the insights you gathered at the event stay top of mind — and make them easy to distribute to your teams back at the office.   My personal favorite was hearing from Clayton Christensen around the job to be done. Having been in Innovation for...

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open innovation corporate culture

People are territorial by nature, protective of their homes, job duties, and relationships. We don’t like others infringing on areas we have claimed as our own. Companies are organizations of people working toward a common goal. As a human endeavor, the corporation’s culture embodies human traits including a suspicion of outsiders and fierce protectionism of its entrenched systems. Unfortunately, these typical business characteristics inhibit the organization achieving true open innovation.   The Open Innovation/Traditional Corporate Culture Clash Traditional business culture is founded on specific beliefs:   No one can do it better than we can. Everyone has a job and job title and need to stay within their roles. Data silos organize information and protect sensitive information. With few exceptions, how we’ve always done it is just fine so why change it. Our processes are secrets to be protected from outsiders. Innovation and market response is important, but it’s more important that we control...

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Pharmaceutical Accelerate Innovation with Software Technology   First, A Look at Deloitte's US Life Sciences Outlook Report   Deloitte released the 2017 US Life Sciences Outlook and the report discusses some very important points for the pharmaceutical sector to consider. It’s a great report and one worth reading. Let’s compound this with a few other events occurring in this space: The healthcare bill on the senate floor that’s yet to be determined. The more informed consumers that think nothing of taking to social media to complain about the cost of care and drug prices. The press and evening news reporting immediately on the fallout from social media and drug prices. High deductible plans continue to trend upwards which equates to more consumers paying more out of their wallet for healthcare. And then there's Amazon...

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Innovation Through Competition: Effective Innovation Systems Encourage Ideation Whether the focus is on product development, service delivery, customer satisfaction, or market share capture, competition drives a company to improve its performance. Taking this to the next level, effective competitive systems encourage outstanding innovation, by allowing the best and brightest to tackle an organization’s biggest challenges. Internal Competitions Creating an internal competition is an excellent way to motivate your workforce to develop innovative solutions and new business opportunities. The most common structure is to form teams which compete to develop concepts, often working with mentors who provide guidance as needed. The teams present their projects to a panel of judges who select the best innovations for implementation. This process has the advantages of: Encouraging teamwork; Demonstrating trust in internal expertise; and Developing pathways for employees to participate in innovation regardless of job title or department. The significant downside of this process is that it keeps...

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