open innovation meets social media
DESCRIPTION
My presentation on the intersection of open innovation and social media as presented in Sao Paulo on June 2nd 2011.TRANSCRIPT
Open Innovation Meets Social Media
www.15inno.com
15inno by Stefan Lindegaard at LinkedIn Groups
+45 40 53 99 30
MY OBJECTIVE:
• Give you an understanding of the intersection between open innovation and social media
• Show you a new niche market for social media services…
• …which helps build even stronger innovation competences
“But [the engineer] stopped me and said: ‘These people are actually important to have outside of Google. They’re very Google people that have the right philosophies around these things, and it’s important that we not hire these guys. It’s better for the ecosystem to have an honest industry, as opposed to aggregating all this talent at Google.’”
Bradley Horowitz, VP, Google
THE KEY CHALLENGES
• From outcomes to corporate capabilities
• We don’t get it. We are too old!
THE KEY CHALLENGES
• From outcomes to corporate capabilities
• We don’t get it. We are too old!
• Where is the value?
• SOCIAL MEDIA CAN: Get you attention from potential partners; beat the competition Bring you recognition as a thought leader Help you become preferred partner of choice• = MORE OPPORTUNITIES
• OK. We get it – but how do we do it?
STATUS QUO
VISIONARIES
GETTING STARTED
• Start with a vision, then make it tangible
• Build social media understanding and competence
• Form a team with internal, external members
• Identify key obstacles and influencers and develop a strategy on how to “influence” them
• Build a process for developing and sharing content and business opportunities
• Develop a strong story line for communication efforts
DO YOU HAVE THE RIGHT PEOPLE?
• A shift of power is taking place
DO YOU HAVE THE RIGHT PEOPLE?
• A shift of power is taking place
• You need leaders with the right mindset which enables them to find the right operational people
• Ideas can come from everywhere. Customers don’t care. Corporate innovation people will become facilitators and integrators
• New mindset and skills are needed in the future of innovation – holistic approach, networking and communication
THANK YOU!
www.15inno.com
15inno by Stefan Lindegaard at LinkedIn Groups
+45 40 53 99 30
OTHER REFLECTIONS
• It is about INVOLVEMENT and how to co-create better outcomes.
• Communities is the future of innovation. Corporate sites will evolve from the likes of P&G to the likes of SAP and Ingenuity Working.
• Marketing has taken over crowd-sourcing for now. Innovation units need to improve at this.
LESSONS FROM A WORKSHOP 1/2
• TWO ASPECTS OF SOCIAL MEDIA:• Communication of relevant messages• Collaboration including sharing of ideas and solutions
• DIFFERENT MATURITY LEVEL, SAME CHALLENGES• Lack of time, resources and funds• Differences between corporate and personal efforts in social media• How to be an effective community builder – knowing what works and doesn’t work
• KEY DISCUSSION TOPICS:• How to develop a social media strategy• What are some social media best practices• How to effectively bring in external entities to ideate for you• How to screen and prioritize ideas
LESSONS FROM A WORKSHOP 2/2
• STRATEGY THOUGHTS• What could be achieved? • What should be achieved?• How much time can be devoted daily?• What is realistic versus not realistic today and then tomorrow• How can an effective destination site be created?• What are the risks in moving aggressively with social media
tools?
THE VALUE
• Better access to and interaction with stakeholders
• Feedback loop on ideas and projects
• Business intelligence
• Marketing and promotion of projects and innovation outcomes
• Thought leadership activities
• Training on innovation skills
• THINK 2 YEARS AHEAD
OPEN INNOVATION EFFECTS ALL INDUSTRIES, BUT…
• …Impact is faster in industries with short product development cycles, less need for IPR and less need for capital.
• Where is your company?
FMCG
NOVOZYMES
PHARMA
INTELINTUIT
LG
SAP
MEDTRONIC
GE