Three dimensions of open innovation 1

Published on July 28, 2021   12 min

Other Talks in the Series: Open Innovation and its impact on business and society

Hello, first of all, allow me to introduce myself. My name is Marisol Menendez, and today I'm going to share with you my passion about open innovation. What I've learned from my first-hand experience by being Global Head of Open Innovation at BBVA, and in my collaboration with other teams worldwide.
First, let me clarify, what 'open innovation' is for me. When talking about open innovation, I refer to Henry Chesbrough's definition. The one I like the most is the one he revised in his paper, 'Explicating open innovation: clarifying an emerging paradigm for understanding innovation'. Of that definition, the most important aspects in my opinion, are: first of all, that open innovation is a distributed (meaning not centralized) innovation process based on purposively (in this case meaning deliberate, this also implies that serendipity doesn't count) managed knowledge flows. This means that we're sharing knowledge across organizational boundaries. These boundaries are not only to connect the inside of the organization with the outside, but also there might be internal boundaries, where we have internal silos. The idea is that we're building bridges and connection points, to allow the knowledge flow.
I once bumped into this quote, taped to the bathroom door in one co-working space. I took the picture and since then it has been with me everywhere, because for me it explains a clear way for how open innovation creates the future. Collaboration is as old as humanity, and thanks to it, we've developed and created new solutions. Now more than ever, with the speed of transformation we're living in, collaboration is even more important. My experience with open innovation is from the corporation perspective,