Abstract: Bolstered by the increasing rate of change in many markets, organizations are seeking ways to get to market faster, deliver greater value to customers, and better manage costs. Open innovation, with an emphasis on collaborating externally and internally, can help organizations achieve those goals. This report discusses 11 best practices and five key enablers used by leading organizations that have embraced open innovation. It also includes in-depth case studies of the following best-practice organizations: Amway, British Telecommunications plc (BT), Cisco Systems Inc., Corning Inc., and General Mills Inc.
Keywords: Innovation; New product development; Product and service innovation; Supply chain management
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