Covid-19 has shown how companies can work together to solve problems.
As companies struggled to adapt to the fallout of the Covid-19 crisis, many turned to open innovation — a collaborative approach that plays to the strengths of all companies involved and can produce creative, unexpected solutions. It’s a kind of collaboration, the authors argue, that’s worth pursuing whether or not you’re in a crisis. Making it work, however, requires that companies: momentarily put aside traditional concerns over IP to focus on other approaches to creating value; leverage their partners’ motivations effectively to maintain a productive working relationship; embrace new partners; and commit to the projects they pursue through open innovation to reap their benefits. This approach can be extremely fruitful, and not just in the middle of a crisis.
Offered Free by: Harvard Business Review
See All Resources from: Harvard Business Review