Ask an expert to describe an innovation system that enables companies to successfully advance valuable technologies that fit their current business model – and those that…
Ask an expert to describe an innovation system that enables companies to successfully advance valuable technologies that fit their current business model – and those that do not fit it.
Strategy & Leadership interviewed Henry Chesbrough author of Open Innovation: The New Imperative for Creating and Profiting from Technology (Harvard Business School Press, 2003). His book is based on numerous research projects he conducted.
He developed an open innovation model based on the observation that great inventions can come from both inside and outside the company and should then be commercialized both using the current business model and with alternative business models.
Case studies are needed. Tools are needed for bringing the customer into the open innovation process.
Corporate leaders should review and consider the open innovation model as one approach in their search for new growth businesses.
Open innovation is a radical approach to business growth that is being pioneered by a number of cutting edge firms.
Michael Hammer, the consultant often credited with coining the term “reengineering,” inspires top management at a number of cutting‐edge U.S. firms to attempt radical process redesign. Here, he updates us on this evolving management practice.
With this interview of W.R. Goodwin, President and Chief Executive Officer of Johns‐Manville, Planning Review initiates a series of articles designed to elicit the opinion of top management on the effectiveness of planning and the proper direction for the state of the art. In simple terms the question is, “How are planning and the planning process viewed from the CEO's office?” Dr. Goodwin was chosen to be the first CEO interviewed because he is one of those rare chief executives who was promoted to top management after a stint as chief planner. Obviously, he is well acquainted with the methodology of planning, the various ways it can be utilized by a corporation, and its potentials. Other executives interviewed in the series will be selected on the basis of their professional experience with planning before their promotions. In this first interview, the interviewers — Robert J. Allio, President of NASCP, and Robert Randall, contributing editor to Planning Review — attempted to make the session informal and more a conversation than an interrogation. For this reason, specific and detailed questions about the Johns‐Manville planning cycle and organizational structure were omitted. Instead, the time spent with Dr. Goodwin gave Planning Review an invaluable chance to learn about his attitude toward planning. Planning Review would like to take this occasion to thank Dr. Goodwin for being so generous with his time. To condense the hour and a half of insight he so cheerfully gave the interviews, the editors have blue‐penciled extensively. In addition, much of the responsibility for the interview's organization rests with the editors. Interestingly, although the interviewers provided Dr. Goodwin with a list of questions in advance, these never became a central part of the discussion. Chief executives tend to answer questions they raise themselves.
Stan Davis, the inventor of new ways of looking at practically everything in sight, is the author of the thought‐provoking books Future Perfect and with co‐author Bill…
This leading business thinker urges managers to seek breakthrough strategies for creating the markets of tomorrow. Reinvent your company and your industry, urges Gary Hamel, co‐author of Competing for the Future. If you're wise, you'll start while your company is still healthy and wealthy.