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Managing and Optimizing Your Open Innovation (OI) Portfolio

A key to success in todays markets is differentiation, and true differentiation flows from innovation. Few companies have the luxury of having all of the necessary resources within their organization. Delivering a portfolio of innovation projects requires a strong portfolio of internal and external resources to dynamically build the right team for the constantly changing needs of a cutting edge innovation program. Developing Breakthrough Products requires applying best practices for innovation both within an organization and externally through strong Open Innovation (OI) partnerships, to ensure that you have the best resources focused on delivering great solutions that address the needs of your customers. If you want to succeed at innovation, you need the best strategies and the best resources. Finding and managing the best resources is a moving target that evolves as your project portfolio changes. Effectively managing and optimizing your innovation portfolio requires managing a portfolio of projects, a portfolio of resources, and a portfolio of new ideas; all simultaneously. This course covers approaches to managing these three linked innovation portfolios to successfully deliver an array of innovation initiatives by having the right resources and the right ideas at the right time.

Turning 'Theory' into 'Practice'?

This program will comprise a series of key concepts, ideas, and tools that will allow you to have a practical approach for how to identify where OI resources are necessary, how to select the right resources, and how to manage them along side your internal resources. Case studies, dynamic exercises and up-to-date knowledge will be converted into a very active 2-day course, providing attendees with knowledge that will help them succeed in their roles as innovation leaders and will help their businesses develop breakthrough products that deliver profitable results.

Who should attend?

VPs, CEOs, Chief Innovation Officers, Directors, Assistant Directors, Managers, Strategists in: Product Innovation Corporate Strategy Research & Development Business Development Product Development Product Management Business Strategy Creativity Design Engineering Customer Solutions Client Innovation Continuous Improvement Strategic Management Strategic Marketing Industries Including: o Consumer Products/Goods o Food & Beverage o Aerospace o Banking / Financial Services o Medical Devices o Healthcare o Pharmaceutical o Oil, Gas, & Energy o Chemical o Restaurant (large chain organizations)

Key areas to be covered in the programme and documentation

o    What is Innovation?

 

Innovation is a vital and popular business topic, but it is also frequently misunderstood or misapplied. This course will clarify what true innovation is, and build a strong link between innovation and bottom-line results. As a business leader it is critical that you have a clear vision for what you expect from your innovation program, and that you have the tools required to make you a successful leader of breakthrough initiatives.

 

o    How can Open Innovation best be applied to my business?

 

It is important to look at how leading companies are applying Open Innovation to solve some of their most difficult innovation challenges. However, there is not a one-size-fits-all answer to how to best apply Open Innovation (OI) practices in all businesses. Rather, it is important to understand how to best customize an Open Innovation program to match the specific needs of your business, your customers, and your strategic challenges.

 

o    How to approach managing an Innovation Portfolio that includes internal and external components

 

Often innovation portfolio management stops at the portfolio of projects. When effectively using OI resources, it is important to also manage and optimize your portfolio of resources internally and externally. Also, utilizing Open Innovation can enable you to generate new ideas externally, requiring a portfolio of ideas that crosses the boundaries of your company.

 

o    Leveraging partners in the Innovation process

You may be missing opportunities if you work on your own. Partnering in innovation can lead to finding better ideas faster. No company has the best resources in the world for all facets of a major development program. You are competing with world-class companies. Ensure that you have assembled a world-class team, regardless of whether all of the necessary skills are immediately available within your organization. Joint efforts can result in a more powerful creativity process, better execution, and higher quality results.

o    Broadening the Innovation focus beyond the product

 

Much of the research and case studies on innovation are focused on developing breakthrough products. However, the principles of innovation and OI are just as relevant to finding breakthroughs in new marketing programs, supply chains, business models, and strategies. Learn how these innovation tools and principles can be applied to your entire business.

 

o    Learning from relevant case studies

 

Case studies from companies such as: Apple, Procter & Gamble, Xerox, IBM, Patagonia and Google will be selected to ensure they are relevant to the needs of the course attendees.

 

Benefits to you

Determine what types of Open Innovation resources to use to achieve their innovation goals

Know when and how to use different types of OI partners

Understand how to manage a portfolio of initiatives and resources that are both internal and external

Understand and mitigate some of the most common pitfalls encountered when involving external resources

Evaluate their existing innovation strategy and identify what parts of their innovation portfolio are best addresses internally, and where OI is necessary

Assess their internal innovation program to focus OI initiatives productively without duplicating efforts

Understand the cultural aspects of successfully integrating external organizations into your innovation strategy

Manage a portfolio of innovation initiatives that require internal and external resources

Ensure that the success of their innovation initiatives is not limited by the capabilities within their current organizational structure

Companies already benefiting include:

Duration of Course

2 Day Course

Course details

May 29th and 30th, 2013, Chicago, IL

Looking to train larger teams in this subject?

 


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Testimonials

"This course will allow my company to develop its existing strategies to a much greater and hopefully profitable level."

Managing Director, Tarmac