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Summary

This video summarises some of the key elements we have covered during the last three weeks on our free Open Innovation online course.
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We have now reached the end of the course. We have discussed and defined open innovation and the processes that come with it, and the processes that an organisation needs to engage with to make it happen. And we have also linked aspects of open innovation with research that we conducted at Durham but also elsewhere. So what I’d like to do in the next few minutes is to go through some of the key takeaways that hopefully you will take with you as you finish this course. I guess one of the most important points that we have reiterated again and again is that innovation does not happen behind closed doors. Sometimes, there’s additional thinking behind innovation.
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Another important point is that open innovation is a key, an often complex capability that potentially can lead to advantage when done well. Another important point associated with that is the open innovation is not just about customers and users, where you go out there and collect information and, potentially, ideas from them. But it may include aspects of suppliers, or engaging with suppliers, competitors, and potentially other external parties. Another important point that open innovation is not just about a product, but it can be about a service and it can, indeed, be about a process, which is potentially less visible to the final user, to the final customer.
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So as you move forward, what I would like you to consider and what I would like you to think about is, first of all, from a managerial aspect or the practical aspect is that, if you’re a manager, try first of all to identify what kind of opportunities are out there for you to identify any ideas and to integrate them with the products and services you currently offer. Try to explore how you can actually engage with them given the different dimensions that we have discussed over this course. Think about how you can benefit from integration, collaboration, sharing of ideas, not just from customers, but also from suppliers, competitors, and potentially other external parties.
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Also consider how these integration practises need to be different depending on the products, the systems, and the key processes that they might have in place. If you’re not a manager and you simply have a more general interest in innovation, you may want to consider, first of all, how do the products and services that you use may originate not from the company that you actually bought it from, but from someone else– customer, supplier, and so on. But to also consider how each company you buy products for, has been able to harvest its ideas and potentially integrate them with the systems and processes and products that they already have in place. And finally, try to be more creative yourself.
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How do you think a new product or a new service can actually help address problems that you already have?

You’ve now reached the end of the course – well done.

We hope you now have a better understanding of the potential of open innovation, and that you feel well equipped to embark on your own open innovation initiatives in the future.

This video summarises some of the key elements we have covered during the last three weeks. Try to reflect on what you have learned and how it might have a significant impact on how innovation takes place in the years ahead.

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Harnessing Open Innovation in Business

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