Technology

Core Competence Management in the Era of Open Innovation

“Core competences” are a major concept in managing innovations and technologies. In the era of Open Innovation, the established concept of core competence management needs to be updated. innovation-3's Frank Mattes recently met with a group of 20 innovation / technology managers from leading firms to work out how this could be done – with the practitioner’s perspective in mind.

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Unacceptable Face of Innovation

Innovation in medicine, material science and many other areas has made life better for many people. But there is another side to innovation that is rarely discussed. Many innovations are designed to be labor saving. With the world population increasing labor saving innovation can only eventually lead to economic collapse and social unrest.

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What's the Difference between Creativity and Innovation?

I still hear people mixing up creativity and innovation so let’s clear it up once and for all: Creativity is thinking of something new. Innovation is implementing something new. It is quite simple. If you generate 500 great ideas in a brainstorm then you have shown super creativity. But there is no innovation until you actually implement something. To put it another and more flippant way – creativity is free but innovation costs money.

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Seniors are the New Innovators!

A Co-creation Challenge integrates users in the product creation process, asking seniors, caregivers and consumers for solutions for using the vast opportunities of mobile technology for the actively aging population. These developments promise to help people stay active and connected to friends, family and support network, as well as make healthcare more cost-effective.

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How Fast Should You Innovate?

In my last two posts I've identified the need for speed, or velocity, as an outcome of innovation. What many firms fail to realize is that the game has changed. The rate of change in the environment has increased, and to remain "in the same place" as your firm is today - merely to hold serve - you must accelerate your product and service development capabilities.

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