Last month, we released a Poll on linkedin and dropped the question “What is the greatest advantage of Open Innovation”. Quite some people voted and a good discussion started off. The results were as following:

 

 

 

What is the greatest advantage of Open Innovation?

Poll1

The result was not completely unexpected. Obviously, on the first hand, Open Innovation is meant to innovate faster and better. To my opinion, and some of the comments support this, gaining and sharing knowledge, building a network and having close insights in customer needs, are just the means to get there.

According to Vincent Toepoel: “In my experience, the financial plan will be easily accepted. But rolling it out within the organisation and the social aspect that comes with that, is more often than not a great barrier to managers. [There is no reason for that, because] the execution of an Open Innovation project is something that gives a lot of satisfaction to all participants.”

Jan Mölls dropped the interesting question: “I would like to specify “faster” and “better”. They both have strategic as well as operational aspects.” He then provides some intesting aspects to keep in mind. And Toepoel reacted: “Besides being faster and better, Open Innovation can be potentially be much cheaper.”

Herm Verbeek summes it all up: “Sometimes Open Innovation is not only a faster or better way, it is the only way.”

New Poll: What trends make Innovation Managers Sweat?