Become an Open Innovator

Multiple internal and external pressures are such that the ability to leverage external innovation can become a major competitive advantage: shorter innovation cycles, constant pressure on costs, increasing technological complexity, and global competition make it necessary to move away from purely “auto-centered” innovation to “open innovation”.

“Open Innovation” means no longer relying solely on the company’s internal resources for innovation, but looking to external sources, to customers in particular and, above all, to suppliers.

In our Ten Ideas article , we demonstrate how a company can excel at open innovation.

  • Why is it important to openly innovate?
  • Why do so many companies struggle with this?
  • What can they do to change?

More companies should tap into the wellspring of great ideas outside the walls

By Gregory Kochersperger, a partner and head of Oliver Wyman’s Value Sourcing and Supply Chain practice, and Xavier Nougues, a partner in Oliver Wyman’s Value Sourcing and Supply Chain practice

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