Open innovation helps Whirlpool Corporation discover new market opportunities

Abstract

Purpose

This paper posits that by selectively applying open innovation, companies can enrich their stock of valuable ideas, effectively manage product development and upgrade their emerging businesses without wholesale changes to their innovation initiative.

Design/methodology/approach

This is a case study of the open innovation process at Whirlpool Corporation written by two Strategos consultants who have worked with the firm.

Findings

Whirlpool has developed a set of questions and discussion guides that help to inform the decision to go “open” or not at each step of the innovation process.

Practical implications

Whirlpool believes that open innovation is really about building and maintaining relationships and alliances. These relationships are managed by “relationship managers” as part of the new business development activities.

Originality/value

By changing the context to competences within any organization, not just Whirlpool, the company is now considering and pursuing a number of opportunities that would have previously been rejected, and Whirlpool is successfully expanding its business to adjacent spaces through the help of open innovation partners.

Citation

Muller, A. and Hutchins, N. (2012), "Open innovation helps Whirlpool Corporation discover new market opportunities", Strategy & Leadership, Vol. 40 No. 4, pp. 36-42. https://doi.org/10.1108/10878571211242939