7 Tactics for Open Innovation

7 Tactics for Open Innovation

Open innovation involves sharing the risks and rewards of innovation with others, but can be disruptive and counter-cultural for large organizations. To encourage success, it is important to share both risks and rewards and tap into intrinsic incentives like love, reputation, and purpose. It is also important to recognize that open innovation requires effort and collaboration, to ask engaging questions, build business empathy, prioritize quantity over quality, and find top 1% lead users. Overall, open innovation requires careful planning and consideration of the right incentives to drive collaboration.

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