Participative innovation: a powerful lever for value creation
Marking a break with « Closed Innovation » and its long gone paradigm that enabled the multinational companies to internalise their R&D resources and establish their technological supremacy, Open Innovation revolves around a new type of process for companies.
To face today’s professional environment’s metamorphosis, where experts become more mobile every day, universities have an increasing role in the business world, and there are more and more research labs, companies crucially need to turn to alternative innovation processes.
Participative innovation in a company prescribes the use of internal and external resources and knowledge, so as to increase the research and development’s productivity and efficiency.
What are the 8 crucial dimensions of participative innovation to take into account for your company?
The process of participative innovation, as a profound transformation, impacts every level of the company, from its high-level strategy to its funding mechanisms and human resources. Open Innovation first of all deeply modifies the internal objectives of the company. This new shift in its paradigm even transforms the way enterprises deal with their market: they have to define new goals to reach and renew their communication process, externally as well as internally.
But many more questions of various complexity levels arise when a company enters the world of Open Innovation. Those questions include:
• Which new resources should I recruit?
• What are consequences of participative innovation on my R&D budget?
• Which tools are crucial to implement this new model?
In this White Paper, through the explanation of various concepts concerning participative innovation, you will discover the way internal process of a company will be affected by this new lever of growth. You will also understand why and how to renew your organisation, and the way your company’s ecosystem functions as a whole.