The Open Innovation Marketplace: Creating Value in the Challenge Driven Enterprise

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The Open Innovation Marketplace: Creating Value in the Challenge Driven Enterprise Pub. Date: 4/15/2011 Publisher: FT Press

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Overview

“Seldom is there a book on innovation that aims to innovate both the innovation process and the firm itself. This book shoots high and delivers! The Open Innovation Marketplace is both inspirational and practical. It lays out the foundations for a new kind of twenty-first century firm–the Challenge Driven Enterprise–that is agile, fast, and can leverage capabilities from around the world.”

–John Seely Brown, Cochair, Deloitte Center for the Edge; Former Chief Scientist, Xerox Corp; and Director, Xerox Palo Alto Research Center (PARC)

“Many people talk about how work is changing, but Alpheus Bingham and Dwayne Spradlin have actually lived it. This fascinating report from the front lines of open innovation is filled with deep insights for all organizations.”

–Thomas Malone, MIT Sloan School of Management and Author of The Future of Work

The Open Innovation Marketplace introduces groundbreaking strategies and models for leveraging the world’s best innovation sources to drive far more value from new products, services, and business models–and do it with far less risk.

Alpheus Bingham and Dwayne Spradlin draw on their pioneering experience building InnoCentive, the leading global platform for open innovation. Writing for CxOs, R&D leaders, and innovation strategists, they show how to dramatically increase the flow of high-value innovations, access innovators you would never hire internally, and successfully integrate external innovation throughout your business.

Through illustrative case studies, Bingham and Spradlin demonstrate open innovation at work in pharmaceuticals, consumer products, software, aeronautics, and beyond. They show how to construct “challenges” that focus innovation on critical business needs, can attract breakthrough strategies and solutions, and how to transform your enterprise to do it over and over again.

Integrate multiple innovation channels in one high-value framework How to successfully choose and integrate complementary innovation sources
Access the “long tail” of expertise and a whole world of innovators on demand Tap innovation from an entire planet of creative and passionate problem solvers
Gain the breakthrough benefits of a Challenge Driven Enterprise Virtualize and transform your business for twenty-first century competitiveness
Reengineer your organization to enable open innovation and better business practices Overcome the Not Invented Here (NIH) mentality and unleash your organization’s innovation potential

Product Details

ISBN-13: 9780132311830
Publisher: FT Press
Publication date: 4/15/2011
Pages: 272
Sales rank: 742,419
Product dimensions: 6.10 (w) x 9.10 (h) x 1.00 (d)

Meet the Author

Alpheus Bingham is a pioneer in the field of open innovation and an advocate of collaborative approaches to research and development. He is co-founder and former president and chief executive officer of InnoCentive.

Alpheus spent more than 25 years with Eli Lilly and Company; he retired as vice president of e.Lilly and vice president of Research Strategy. He had formerly been the vice president of Sourcing Innovation. He served on both the R&D Policy Committee and the corporate Operations Committee. He has deep experience in pharmaceutical research and development, research acquisitions and collaborations, and R&D strategic planning. During his career, he was instrumental in creating and developing Lilly’s portfolio management process and establishing the divisions of Research Acquisitions, the Office of Alliance Management, and e.Lilly, a business innovation unit, from which was launched various other ventures that create the advantages of open and networked organizational structures, including InnoCentive, YourEncore, Inc., Coalesix, Inc., Maaguzi, Inc., Indigo Biosystems, Seriosity, Chorus, and Collaborative Drug Discovery, Inc.

He currently serves on the Board of Directors of InnoCentive and Collaborative Drug Discovery, Inc.; the advisory boards of the Center for Collective Intelligence at MIT and the Business Innovation Factory, and as a member of the board of trustees of the Bankinter Foundation for Innovation in Madrid.

He has lectured extensively at both national and international events and serves as a Visiting Scholar at the National Center for Supercomputing Application at the University of Illinois at Champaign-Urbana. He is also the former chairman of the Board of Editors of the Research Technology Management Journal. Alpheus was the recipient of The Economist’s Fourth Annual Innovation Summit “Business Process Award” for InnoCentive. He was also named as one of Project Management Institute’s “Power 50” leaders in October 2005.

Alpheus received a B.S. degree in chemistry from Brigham Young University and a Ph.D. degree in organic chemistry from Stanford University.

Dwayne Spradlin has been on the forefront of business innovation and leadership for more than 20 years. He is intensely focused on two areas: finding new ways to unleash and focus human potential using technology and defining the role of leadership in driving change in our businesses and culture.

Dwayne serves as president and chief executive officer at InnoCentive, the global leader in Open Innovation. Previous positions have included president of Hoovers Online, president and COO of StarCite, senior vice president of Corporate Development VerticalNet, and director at PriceWaterhouseCoopers, where he spent ten years delivering Technology and Strategy solutions to Fortune 500 clients including Intel, Compaq, Caremark, and United Airlines.

Dwayne currently sits on the Board of Directors of both InnoCentive and Cortera.

Considered an authority on crowdsourcing, Open Innovation, and the role of Innovation in Philanthropy, Dwayne has been a keynote speaker at events on five continents, He is frequently interviewed and has been featured on CNBC, ABC, NPR, and BBC and quoted in the Economist, BusinessWeek, The New York Times, and many other journals and periodicals.

Dwayne holds a B.A. degree in applied mathematics and an M.B.A. degree from the University of Chicago. He lives in Southlake, TX, with his wife and three children.

Preface xxi

Chapter 1: Introduction 1

Part I: Challenge Driven Innovation: How a Marketplace of Innovation Allows Us to Reframe the Innovation Model, Improve Performance, and Manage Risk

Chapter 2: The Future of Value Creation 21

Chapter 3: A New Innovation Framework 39

Chapter 4: The Long Tail of Expertise 67

Chapter 5: The Selection of Appropriate Innovation Channels 91

Part II: The Challenge Driven Enterprise: Virtualizing the Business Model to Drive Innovation, Agility, and Value Creation

Chapter 6: The Challenge Driven Enterprise 117

Chapter 7: Transformation 139

Chapter 8: The Challenge Driven Enterprise Playbook 163

Chapter 9: Leadership 199

Afterword 219

Endnotes 221

Supplemental Reading 227

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