Our group has been invited to participate at the HBR-McKinsey M-Prize . Now we need your support! If you want to see our proposal outlined below become a winning idea, please head over to the official website and "like" our idea: Global solutions, local failure – Overcoming barriers in implementing open innovation
For those not familiar with the M-Prize, here is a short summary from their official website:
The Management Innovation eXchange (MIX) is an open innovation project aimed at reinventing management for the 21st century. The MIX is based on the premise that management is nothing less than the technology of human accomplishment and that, after 100 years of incremental tweaks, it now needs to be reinvented for a new age.
The M-Prize is the MIX’s call to management innovators (and aspiring management innovators) around the world to make a real difference when it comes to improving management thinking and practice.
Here is a short summary of our submission:
Many companies today pilot open innovation (OI) and crowdsourcing, but only few are making it a permanent practice. A consortium of six German SMEs finds that OI can radically improve the productivity of technical problem solving, but demands strong internal promotors and dedicated processes to overcome resistance and barriers.
You can find the full proposal here! Thank you for your support!!
PS: The topic of implementing open innovation in an established firm also is the theme of our upcoming European Open Innovation Practicioner Program.