What do you get when you marry the brains of people inside your company with those outside of it? You create a culture of brisk innovation that will likely save you billions otherwise stuck in secretive R&D chambers.
In today’s uber-populated world, talent is abundant and not scarce. Thanks to 24/7 connectivity in the Open Source Era, great ideas can come from anywhere. How do you take advantage of these possibilities to drive innovation in your organisations?
GE aviation in 2013 wanted to make their planes more fuel efficient by reducing the weight of the bracket on which the engine is mounted by 30%. Instead of giving millions of dollars to their R&D department, they created an online global contest for the best design and the winner to be awarded twenty thousand dollars. The winning solution came from an Indonesian engineer in far flung Central Java, reducing the bracket weight by a huge 84%. When GE Aviation made the decision to access the global brain to solve its innovation challenge, this wasn’t just a smart business idea but a whole new way of creating breakthrough innovation in a world of high-speed fast turnover change. Their new innovation strategy achieved its target in six months, while saving the company millions.
Such a corporate mindset requires the confidence to let go of some control, recognizing that in today’s open source era, everything is open and connected. The traditional divide between internal and external innovation can be bridged to allow organizations to leverage existing innovation structures while simultaneously enhancing them with different ideas and perspectives crowdsourced externally.
Cross that crowdsourcing bridge. Online platforms are available that allow organizations to do this. No more secret, disconnected, internally controlled R&D for innovating breakthrough change. To get ahead, companies just need to let go.
To gain control of innovation, companies need to let go and cross that crowdsourcing bridge to find breakthrough change.
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These perspectives and insights were extracted from concepts in the upcoming new book, Open Source Leadership: Reinventing Management When There’s No Business As Usual, written by our CEO Rajeev Peshawaria.
Lalit Gupta, Chief Marketing Officer
I’m excited to announce the launch of this new book containing much-awaited new thinking such as the above, designed to challenge long-established leadership and management practices with groundbreaking ideas relevant to the age we now live in. Open Source Leadership by Rajeev Peshawaria is launching in October – don’t miss it!