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A Guide to Open Innovation and Crowdsourcing

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I'd like to call your attention to a book with writings from several of our contributing authors, a foreword from Henry Chesbrough, and edited by Innovation Excellence contributor Paul Sloane - A Guide to Open Innovation and Crowdsourcing. As a special value added service to the Innovation Excellence readers, inside this post you'll find my chapter as a free sample.

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Open Services Innovation

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Innovation has always been a challenging and risky business. These days, it is getting harder and harder for many companies to compete, escaping the forces of commoditization, as manufacturing spreads around the world to lower-cost regions. With the increasing flow of knowledge and information, largely spurred by the proliferation of the Internet and enabled by technology, product life span is shortening.

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Premature Innovation

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Prevailing business culture these days is obsessed with speed. People are obsessed with fast prototyping, failing fast, and getting to market fast. But too often people don’t stop to think whether their innovation efforts are going too fast. It’s almost as if the word premature is fast becoming as taboo in the boardroom as it is in the bedroom.

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Staging an Innovation Party

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Have you ever woken up in a cold sweat in the middle night from a nightmare focused on you throwing a big party that nobody comes to? Or, in real life, have you ever thrown a big launch party for a new product or service, made a lot of noise with advertising, marketing and public relations – only to have the sales returns be anemic at best?

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Disruption Sends Starbucks to Square

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The recent announcement Starbucks will put $25M in Square and also start rolling out Square to 7000 stores is -- massive news. Starbucks is not only seriously putting skin in the game, but also immediately becomes Square’s largest customer, changing how commerce will be done in the stores, expanding the ability to use mobile credit card payments. This is a major feat by Square to win the trust of a major global player, get investment dollars AND bring on a major revenue customer, all at the same time.

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