Collaborative innovation. It’s more than just a buzzword—it’s a paradigm shift in how businesses approach problem-solving and idea generation. In the vibrant tapestry of innovation, collaboration emerges as the most vivid hue. It’s the synergy of multiple perspectives, the melding of diverse skills, and the union of varied experiences. This collaboration in the innovation realm is aptly termed ‘collaborative innovation.’ But what exactly is it, and why has it become the talk of the town in the corporate world? Let’s embark on a journey to unravel this.
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What is Collaborative Innovation?
Collaborative innovation is the process by which individuals, teams, or entities join forces to ideate, develop, and implement new ideas or solutions. Rather than relying on a single source of innovation, companies tap into a broader ecosystem which can include employees, customers, partners, academia, and even competitors.
Why Embrace Collaborative Innovation?
- Diverse Perspectives: Collaborative innovation brings together a multitude of viewpoints, leading to richer and more varied idea generation.
- Risk Mitigation: Collaboration often brings shared resources and combined expertise, reducing potential risks in innovation.
- Speedy Execution: With more hands on deck, the journey from ideation to execution becomes swifter.
- Increased Engagement: Engaging various stakeholders fosters a sense of ownership and commitment to the innovative endeavor.
Large Companies Championing Collaborative Innovation
- Procter & Gamble (P&G): P&G’s ‘Connect + Develop’ program epitomizes collaborative innovation. Instead of relying solely on internal research, P&G collaborates with external innovators to co-create products. This approach has contributed to several successful products and a robust innovation pipeline.
- IBM: Through its ‘InnovationJam’ initiative, IBM not only involved its employees but also clients, partners, and researchers. These Jams have led to the development of groundbreaking solutions and even the redirection of company strategy based on collaborative insights.
- GE: GE’s ‘Ecomagination’ is an initiative that challenges the global community to come up with green technology ideas. By collaborating with a wide audience, GE ensures that its eco-friendly innovations have broad societal input and impact.
- Starbucks: The coffee giant’s “My Starbucks Idea” platform invites customers to submit suggestions for everything from beverages to ambiance, engaging the coffee community directly in the innovation process. This crowdsourcing approach has led to the launch of popular offerings like the Pumpkin Spice Latte and has deepened customer loyalty by making them feel valued and involved.
- LEGO: LEGO Ideas is an online platform where fans can submit their own designs for new sets. If a project gets enough support from the community and passes the company’s review, it can become an official LEGO set, with the creator receiving credit and a percentage of the sales. This initiative not only keeps the company’s product line fresh but also strengthens the bond between the brand and its fanbase. Since we are big fans of this company and their approach, we dedicated an entire blog to their story 😊 – you can read it here.
- Unilever: Unilever’s “Foundry” initiative collaborates with startups to pilot new technologies faster and more efficiently than traditional models. It’s a win-win as startups get access to Unilever’s expertise and resources, while Unilever taps into disruptive innovations.
- Boeing: The aerospace company often collaborates with research institutions, suppliers, and even competitors to drive innovation. Their partnerships range from improving manufacturing processes to developing sustainable aviation fuels, emphasizing the significance of collaborative innovation in even highly technical sectors.
- Cisco: Cisco’s “Innovate Everywhere Challenge” encourages its employees globally to pitch innovative ideas. By harnessing the collective intellect of its workforce, Cisco not only finds unique solutions to business challenges but also empowers and engages its employees in unprecedented ways.
Harness the potential of diverse minds
In the orchestra of innovation, every individual can be an instrumentalist, contributing unique melodies to the collective symphony. Collaborative innovation isn’t just a trend; it’s a transformational approach reshaping the business landscape.
To innovation managers and organizations yet to board this train: The future of innovation isn’t in silos; it’s in synergy. Embrace collaborative innovation, and you don’t just get ideas; you build bridges, foster community, and propel your business into a future shaped by collective brilliance.
Harness the combined potential of diverse minds. Your next big innovation might just be a collaboration away.