Open Business Models: How to Thrive in the New Innovation Landscape Stanford Executive Brief with Henry Chesbrough
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- A diagnostic tool for assessing your current business model.
- How to make money in an open innovation landscape.
- "Innovation intermediaries" and how they can improve your access to external technologies.
If your business has a closed innovation model, there is only one way into the product development funnel, and there is only one way out to the market. While this model has performed remarkably well for many companies--in many, many industries--it is now obsolete. In conditions of uncertainty, with very complex information, you don't have all the data you need to make the right R&D decisions every time. There is a temptation to go with ideas or products that fit your current business model, with the risk of investing in flops while overlooking potential blockbusters.
Dr. Chesbrough describes how to open your closed innovation model, and then apply these same principles to rejuvenate your company's broader business model. He details specific examples of enterprises that have successfully leveraged innovation to create and capture value from ideas and technologies.
Professor Chesbrough's "Open Innovation: The New Imperative for Creating and Profiting from Technology" was awarded Best Business Book of 2003 by Strategy and Business Magazine, when he was also named one of Scientific American's Top 50 business and technology leaders. Dr. Chesbrough earned his PhD at the Haas School of Business, University of California, Berkeley. He also has an MBA from Stanford and a BA in economics from Yale University.