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Three dimensions of open innovation 2
Published on August 29, 2021 14 min
Other Talks in the Series: Open Innovation and its impact on business and society
Open innovation: core concepts and key challenges
- Prof. Henry Chesbrough
- Luiss Guido Carli University, Italy
Financial innovation: the future of FinTech
- Prof. Anne-Laure Mention
- RMIT University, Australia
Open innovation and intellectual property
- Dr. Marcus Holgersson
- Chalmers University of Technology, Sweden
Open innovation policy and public funding for collaborative projects
- Dr. Chiara Eleonora De Marco
- Senior Associate, Capital Projects & Economics, GIS-Global Incentive Service, PwC, Italy
Hello, allow me to introduce myself, my name is Marisol Menendez. Today I'm going to share with you my passion about open innovation, what I learned from my first-hand experience as Global Head of Open Innovation for BBVA, and my experience afterwards with other corporations from all around the world.
My experience with open innovation is from the corporation perspective. Implementing it in a multinational company, we began by asking the simplest question: what can open innovation do for us? While trying to explain what I'd learned, I came up with a framework that I called: 'the three dimensions of open innovation'. It aims to help to analyze, understand, discuss, and question the mechanisms behind innovation implementation in an organization, and the dynamics of collaboration. More than answers, this framework looks to create the right questions to challenge innovation strategies, and promote the right kind of collaboration, fitting to each organization.
The three dimensions are: strategy; POP K, which stands for processes, organization procedures, and KPIs; and mindset. In a previous talk I've already explained the first dimension, strategy, now I'm going to discuss the next two.
POP K is a memorable mnemonic device gathering four concepts that, in order from general to specific, are: organizational structure, processes, procedures, and KPIs. The final objective of this dimension is to ensure that processes, organization, and procedures are set in a way that allow and promote the organization's work in alignment with the strategies, making sure that the KPIs (key performance indicators) are the ones needed to ensure the strategy. This analysis should be done not only from the structural point of view but also from the human, motivational, and collaborative perspective; because collaboration is about humanity, and what is open innovation, after all, if not innovation in collaboration?