Ecosystems and Open Innovation: Co-Create or Stagnate
In the current ecosystem economy that runs on partnerships, the clear choice for growing one’s business is open innovation: co-creating and collaborating with internal and external partners. To stand out, you need to innovate the way you’re innovating. Not all innovation is created equal. In a world of increased volatility and continuous change, there’s a real risk of “innovation fatigue.” When everyone claims to be innovating, it can begin to feel like no one is innovating. Learn what open innovation maturity looks like, how it can drive business performance, and—most importantly—what it takes to get there.
Download IBM and APQC's Most Recent Open Innovation Research
To move from aspiration to realization in an era of exponential technology, organizations must determine what business value they can derive from innovation with ecosystem partners and what’s required to facilitate it.
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Open Innovation Maturity Assessment
IBM IBV and APQC jointly developed a maturity model that we used to analyze whether maturity on key open innovation capabilities results in a more efficient innovation process and improved business outcomes. We call it the Ecosystem Enabled Innovation Maturity Model (EEIMM), and we have tested it with more than 1,000 companies. Our results are compelling: organizations that are more mature with regard to open innovation significantly outperform less mature organizations.
The assessment evaluates the capabilities organizations have in place to enable collaborative value creation from:
- Strategy and Culture
- Ecosystem Capability
- Internal Capacity
- Technology Enablement
There are four to eight questions on specific capabilities and practices across five levels of maturity. Organizations select the option that most closely matches their practices in an interactive tool and then submit their answers to APQC for tabulation, comparisons, and report generation.
Organizations that are more mature with regard to open innovation are 3.3 times more likely to outperform less mature organizations on revenue growth, and 2.7 times more likely to outperform them on profitability.
Open Innovation: Creating Flexible Collaboration
This report leverages APQC’s ongoing research into open innovation, external expertise, and recent real-world examples in order to highlight open innovation best practices in the context of thoughtful infrastructure with baked-in flexibility.
Stage-Gate Process for Innovation and Product Development
This collection includes tools and templates for the stage-gate process for innovation and new product and service development.
Open Innovation Strategy Builds Resilience
Read this blog to learn 4 best practices for better open innovation strategy.
The rate of revenue growth for open innovation leaders is 59% higher than that for other companies.