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“Not-sold-here” tendencies, the instinct to not want to give away a company’s “crown jewels” through strategic licensing, are an impediment for companies looking to pursue open innovation practices. Monetary and non-monetary incentive mechanisms in support of technology transfer, such as an open innovation award, can help break this instinct.
BusinessWeek this week highlights a number of companies that are pursuing growth despite the recession --including Inditex (owner of clothing retailer Zara), Procter & Gamble, and small entrepreneurial businesses such as JustAnswer.
Anyone who's read management literature for more than 15 seconds is no doubt sick of Procter & Gamble constantly being dragged out as the default example of how companies should innovate. Still, P&G's innovation culture, by company chairman A.G.
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