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Acclaimed entrepreneurship and innovation scholar Piero Formica,
along with a strong and diverse cast of international contributors,
explore the world of Open Innovation in this volume. Tackling new
developments in the field, the authors examine altruism and the
role of openness to unorthodox and unconventional experimentation
as the newest arena to create modern knowledge resources and
entrepreneurial ventures.
This book presents readers with the opportunity to fundamentally
re-evaluate the processes of innovation and entrepreneurship, and
to rethink how they might best be stimulated and fostered within
our organizations and communities. The fundamental thesis of the
book is that the entrepreneurial process is not a linear
progression from novel idea to successful innovation, but is an
iterative series of experiments, where progress depends on the
persistence and resilience of the individuals involved, and their
ability and to learn from failure as well as success. From this
premise, the authors argue that the ideal environment for new
venture creation is a form of "experimental laboratory," a
community of innovators where ideas are generated, shared, and
refined; experiments are encouraged; and which in itself serves as
a test environment for those ideas and experiments. This
environment is quite different from the traditional "incubator,"
which may impose the disciplines of the established firm too early
in the development of the new venture. Featuring case examples of
start-ups across a wide spectrum of industries, from Wikipedia to
Ryanair, the authors explore the qualities of successful
innovation, including a high tolerance of risk and unpredictability
and commitment to building knowledge enterprises that value
intangible assets. This volume is a clarion call to those in
academia, enterprise, and government who seek to work together to
promote innovation and entrepreneurship, with a stark message for
academic institutions: engage or be left behind.
This book presents readers with the opportunity to fundamentally
re-evaluate the processes of innovation and entrepreneurship, and
to rethink how they might best be stimulated and fostered within
our organizations and communities. The fundamental thesis of the
book is that the entrepreneurial process is not a linear
progression from novel idea to successful innovation, but is an
iterative series of experiments, where progress depends on the
persistence and resilience of the individuals involved, and their
ability and to learn from failure as well as success. From this
premise, the authors argue that the ideal environment for new
venture creation is a form of "experimental laboratory," a
community of innovators where ideas are generated, shared, and
refined; experiments are encouraged; and which in itself serves as
a test environment for those ideas and experiments. This
environment is quite different from the traditional "incubator,"
which may impose the disciplines of the established firm too early
in the development of the new venture. Featuring case examples of
start-ups across a wide spectrum of industries, from Wikipedia to
Ryanair, the authors explore the qualities of successful
innovation, including a high tolerance of risk and unpredictability
and commitment to building knowledge enterprises that value
intangible assets. This volume is a clarion call to those in
academia, enterprise, and government who seek to work together to
promote innovation and entrepreneurship, with a stark message for
academic institutions: engage or be left behind.
This book presents the emerging paradigm and methodology, Open
Innovation 2.0 (OI2), which aims to help drive significant
structural changes and benefits through digital innovation to
society and industry. It highlights how new services and markets
can be co-created in open ecosystems and how this leads to a
transformation from win-lose to win-win situations for all
stakeholders. Organized around a number of core patterns of OI2,
such as shared purpose, partnering and platforms, this book
leverages more than five years of research by the EU Open
Innovation Strategy Policy group. Popularized in the early 2000s,
open innovation is a systematic process by which ideas can pass
among organizations and travel on different exploitation vectors
for value creation. With the simultaneous arrival of multiple
digital disruptive technologies and rapid evolution of the
discipline of innovation, it became apparent that an entirely new
approach to innovation was needed that incorporated technological,
societal and policy dimensions. Unlike other innovation
methodologies, OI2 is an innovation paradigm and methodology with a
purpose: to seek and deliver innovations that move us collectively
on to a trajectory towards sustainable intelligent living. OI2 is a
paradigm advocating for disruptions, seeking the unexpected and
providing support for rapid scale-up of successes. As a method, it
provides a safety net for both innovations and innovators,
inspiring innovators to have the confidence and courage to
innovate. Featuring case studies from domains such as energy,
telecommunications, transportation, and finance and from companies
including Intel, Lego, Alcatel Lucent and Alstom, this book is
useful to industry executives, policy makers, academics, and
students of innovation and innovation management.
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