Networking for Innovation

Innovation has always been a multi player game

No person exists on their own, and no organization operates in isolation.  Innovation has always been a multi player game, and in a world of "open innovation," where not all the smart people work for you, organizations are increasingly turning to networks to help them manage innovation.

The benefit of innovation networks can be substantial.  For small firms, the limiting factor is often that they are separated from developments in the wider market--they lack the overview of market intelligence a larger firm can access.  Linking up in networks means they can tap into each others resources, ideas, and knowledge.  However, even larger firms are increasingly realizing how important a resource this can be, and adopting innovation network tactics accordingly.

ACTION POINT:  Innovation networks allow you to share resources and reduce potential risks of developing new products and processes.  They give you a diversity of perspectives, and access to knowledge sets and experience outside those in your organization.