6 Don’ts For An Open Innovation Winning Formula

Open innovation can be a powerful approach for organizations to find groundbreaking ideas, develop new products and solve difficult problems, but not every company that engages in OI enjoys the same success. To excel in your next open innovation endeavor, avoid these common mistakes: don't do it once, don't do it yourself, don't work with the wrong people, don't forget about the most important part - follow through, don't choose the wrong audience, and don't overlook the importance of framing the problem. These mistakes can lead to costly missteps, but with careful planning, a diversified approach, and the guidance of a trusted OI partner, your open innovation program can deliver exceptional outcomes.