PA Consulting Group has recently completed an Open Innovation (OI) Survey among business development and R&D directors in 30 of the World's largest healthcare and manufacturing companies. This qualitative piece of research evoked an enthusiastic response and rich comment from senior innovation leaders, willing to engage on what is clearly a 'hot topic' at the moment. Industry sectors covered range from pharmaceutical and medical device development through to large scale engineering and to consumer products.
The survey reveals attitudes, challenges, pitfalls and opportunities surrounding OI defined as how a company works with partners, agencies and other companies outside its organisation to foster innovation - essentially, innovative innovation.
Key findings include: an OI culture is becoming established; the potential benefits of OI are recognised; OI investment decisions pose unique questions; approaches to it vary according to business context and maturity.
In today's business climate, the ability to think two steps ahead of the competition is not just an advantage, but a necessity. The feedback in this survey provides valuable pointers for implementing OI in any industry.