6.4 HFI Activity - Advantages & Disadvantages of Open Innovation by Learning Innovation Lab https://padlet.com/edtech_lab/cb5w0j7yfomt8sph en-us 2021-12-16 11:54:56 UTC 2026-02-24 10:59:35 UTC hello@padlet.com https://padlet.net/icons/png/1f4a1.png https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2048600386 +New ideas that are more close to the needs of the customer can be generated
+Companies can benefit of the different innovation approaches by other entities like universities etc.
+Certain weaknesses can be compensated by getting knowledge from others

Lukas]]> 2022-02-15 13:54:43 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2048600386 https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2048603912 - Cannibalization of own market position by giving away ideas
- Reducing the barriers to entry for the competition
- Outcomes not always certain and difficult to measure]]> 2022-02-15 13:56:15 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2048603912 https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2049513964 + New platforms which can form which create markets in themselves can explode rapidly
+Rapid Innovation for global challenges can move faster 

Andrew Murphy]]> 2022-02-15 20:36:58 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2049513964 https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2049518490 +Open Innovation will likely create an innovation landscape which is likely more competitive - holding tightly and protecting tightly your technological competitive advantage can be a way to stifle upstarts from eating your lunch

Andrew Murphy

]]> 2022-02-15 20:39:47 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2049518490 Needs an "open" culture https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2054127184 The culture of the company can limit its innovation aspirations.

Valia Meletiou]]> 2022-02-17 21:37:55 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2054127184 https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2054870607 Open new opportunities. Open innovation bring in new resource and capabilities, which could create new products or services otherwise cannot be created.

Li ]]> 2022-02-18 08:38:42 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2054870607 https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2054872302 if the open innovation is done in an unstructured way or non-value added way, it will actually slow down the innovation of a firm and has potential impact on the current value creation. 

Li]]> 2022-02-18 08:39:58 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2054872302 https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2056317834 Open innovation can lead to transformative projects that have a global impact rather than  just commercial projects for individual companies. For example the development of the WWW and Internet. 

Thorunn]]> 2022-02-19 08:25:32 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2056317834 https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2056320693 Open innovation may in some cases be more time-consuming than in-house innovation as it involves more external stakeholders. 

Lack of regulation or framework that governs the commercialisation of the innovation as regulators tend to be a step behind the innovators and early adopters. For example Bitcoin and blockchain. ]]> 2022-02-19 08:30:54 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2056320693 https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2056391524 The access to some key technologies or data could be abused for unethical purposes. Wenting]]> 2022-02-19 10:41:22 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2056391524 Open innovation can push entire industries (and societies) forward. -Kelly kellyberry https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2056437544 2022-02-19 12:00:14 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2056437544 Potential disadvantages of Open Innovation kellyberry https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2056439530 - Missed commercial opportunities
- Too focused on external network = lose touch with inner workings of firm
- Competitors gain valuable information and can leverage it to compete better
- Requires lots of time and resources to sift through large volume of information/ideas 
- Kelly]]> 2022-02-19 12:03:32 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2056439530 Open Source Software https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2056669007 The success of open source SW development showcases the advantage of open innovation (revealing). It encourages collaborations, brings in diverse skills/knowledge/domains and increases innovation potential. The debate on COVID vaccine formulae being patented by pharma companies, brings into question commercial benefits vs larger good.
 ]]> 2022-02-19 17:12:45 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2056669007 Community - Julia G https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2057237923 One benefit of open innovation is the creation of community around innovation. While community may be difficult to manage and pull useful ideas, the collection of insight and integration with customers can excel products or services to match value offering benefits.]]> 2022-02-20 12:01:24 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2057237923 Competition - Julia G https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2057244768 While open innovation can push internal development faster, in some cases distrust and lack of motivation can evolve from in-house talent following successful innovation shifts by external innovation efforts. 

An example in startups and acquisition. As smaller startup teams can quickly innovate and have the opportunity to test products are developed more fluidly, larger firms acquire these teams and innovation speeds conflict. In some cases the process speed overlap can cause silos and competition between teams (sometimes good, sometimes bad). The resulting disadvantage is that companies must shift internal processes to develop at a different pace or approval system to make use of the external innovation.  ]]> 2022-02-20 12:12:08 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2057244768 Less R&D cost and time to market - Amr H. https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2057275439 With more openness comes more shared ideas. Those shared ideas help to speedup more developed products to the market with less R&D costs.]]> 2022-02-20 13:00:59 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2057275439 Loosing market for small companies - Amr H. https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2057277822 Bigger companies can benefit from openness as they have already a stable infrastructure and the ability to finance their R&D. Smaller companies will loose their targeted market if they share their ideas early before having a well-established products, that could compete with the larger well-known companies as they need more time to develop this product and do their R&D.]]> 2022-02-20 13:04:42 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2057277822 Increased Diversity - Adam G https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2057351385 A firm with certain capabilities and staff will not have as much diversity of thought and innovative ideas when compared with the R&D community as a whole. Firms that can bring in more diverse ideas that would not likely be thought of in their firms can benefit from a wider range of innovations.]]> 2022-02-20 14:42:18 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2057351385 Societal value - Anna B https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2057357258 When Volvo invented the three-point seat belt in 1959, they made patent free for all competitors to use in order to save lives. Volvo prioritised industry and societal benefit vs profit. Thus, there is definitely a benefit of open innovation not all for industries, but society overall. ]]> 2022-02-20 14:49:26 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2057357258 Trade-off - Anna B https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2057359862 With the open innovation, you need to make a trade off between holding a dominant position as provider of particular technology/ product/ raw material/ etc and cannibalisation of own sales of ready product.]]> 2022-02-20 14:52:34 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2057359862 Leverage Talent - Torsten O. https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2058298571 By sharing research openly more people can contribute to the results and use it in further developments as a basis. This enhances contribution but also positively reflects on the original company images.]]> 2022-02-21 07:57:21 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2058298571 Open platform and global standard - JungJo Hyun https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2059218587 Not only the open software, but also open platform and global standard are also one of advantages for open innovation in the field of technology.

]]> 2022-02-21 18:32:05 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2059218587 Another harm of monopoly - JungJo Hyun https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2059219854 Production of monopoly products by using openness.

]]> 2022-02-21 18:33:11 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2059219854 https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2061248137 faster process of innovation
Andreas]]> 2022-02-22 19:21:11 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2061248137 https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2061249279 difficult to capture (all the) value
Andreas]]> 2022-02-22 19:21:45 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2061249279 Time saving and the opportunity of a quick adaptation to a volatile market matthiasvolkmar https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2061526991 Open Innovation does not have to be self-created to benefit from it. Therefore a competitive advantage can be created by just purchasing someone else's intellectual property. (Matthias)]]> 2022-02-22 23:12:20 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2061526991 Risk of losing control matthiasvolkmar https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2061532227 The larger an open innovation project or network is, the greater is the risk of losing control. However, individual partners can always turn against the leading organization and pursue their own way. (Matthias)]]> 2022-02-22 23:18:11 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2061532227 Open Source Sharing - Bader https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2067109825 As mentioned by my colleagues, the example of open source software sharing illustrates the advantages of open innovation. Open Source gave the opportunity for developers to build their products faster, generate new ideas based on simple algorithms developed by others, and give back to the community by contributing to others’ codes]]> 2022-02-25 23:39:40 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2067109825 Network effect – Ken https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2067971581 Even though the network was already mentioned as a (key) asset of open innovation, I believe, open innovation, especially when various networks are activated, can in turn have a network effect: People getting to know each other and making new introductions or referring to other people from their networks etc. Consequently, through this new combination/network, other new innovations can evolve, improve or be realised.]]> 2022-02-27 07:01:26 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2067971581 Sharing secret information – Ken https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2067977186 Sometimes there is a fine line, especially when corporates are working together, of how much information can/should actually be shared or are allowed to be shared. Consequently, during projects valuable infos/secrets could be shared with other stakeholders (unintentionally).]]> 2022-02-27 07:15:20 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2067977186 Faster innovation and market development https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2068253509 R&D from scratch takes time and resources. Sharing allows to develop the market e.g. Tesla ]]> 2022-02-27 15:31:28 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2068253509 Technology applications that were not expected by the innovators - Leandro https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2068374086 A good thing about open innovation is that individuals or companies can use open source technology to solve problems that are completely different from the original purposes of that technology. This may open new markets in an organic way for the innovators ]]> 2022-02-27 18:30:58 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2068374086 Conflict of interest - Leandro https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2068378605 Depending on the model of open innovation, the parts involved may have different interests and this discrepancy may kill the entire project. For example: a researcher funded by a company may pursuit an outcome for his/her research that is different from the expected from the company.]]> 2022-02-27 18:37:34 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2068378605 Comparative Advantage - Chris Bell https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2068538622 Particularly for acquiring and sourcing innovations, one of the advantages you have is the classic economics concept of comparative advantage. There are some companies in the market that have an advantage producing an innovation at a lower cost compared to other companies. You can really see this in the way that large organisations lose massive amounts on building innovations that they could have acquired much more cheaply from startup.

]]> 2022-02-27 23:19:13 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2068538622 Erosion of Differentiation - Chris Bell https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2068544475 Where you are working with the wider market openly generating and sharing ideas, you run the risk that you give up control of things that could become strategic assets and differentiators for your company.]]> 2022-02-27 23:30:15 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2068544475 Faster Innovation Cycles (Patrick) https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2079755227 Overall I think all the shown examples of open innovation have one thing in common - they are collaborative. Either by including the customers', competitors', other market incumbents' knowledge in the innovation process. This means to me, that the "knowledge pool" is increased significantly, which should end up in a faster innovation process overall. To me thats the main advantage. Even though for some individuals, it can become a disadvantage because they loose competitive leverage, but it also drives those individuals to be agile and improving all the time. And over time, I'd say we'll have better products / services in a shorter amount of time (overall wealth increases).]]> 2022-03-06 09:43:44 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2079755227 Left behind (Patrick) https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2079756806 Also referring to my advantage posts - I think innovation becomes faster in general, and for those who aren't able to adapt fast enough to leverage new technologies, processes, etc., there is a high risk of loosing competitive advantage and getting lost in the process. ]]> 2022-03-06 09:46:23 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2079756806 Mastering centennial innovations through revealing, countering classical economic arguments? https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2085890394 I always find the argument by economists hard to believe that securing IP rights is one of the greatest benefits of a society to drive innovation. While this reward might be true to help entrepreneurs and inventors cash in on innovations, it puts a toll on society as the inventor receives royalties and can basically create a monopoly for a certain time. How is that good for consumers? Yes it stimulates innovation in search of large profits, but hurts consumers afterwards.
I see a similar notion in the autonomous driving domain. If all experts across the globe would work together on solving this ambitious goal, sharing code and data, we’d be much further ahead on the development curve. Instead, companies are fighting each other to develop patents and steal talent away from each other. I have a hard time seeing how delaying technological development to reward the first inventor benefits society. I think more companies should reveal their IP and data and enter a form of profit sharing agreement or something similar.]]> 2022-03-09 11:40:11 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2085890394 National Security https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2104938454 In the interest of national security some innovations should not be shared openly if a country's goal is to have a competitive advantage compared to other countries (be it in defense, in sourcing natural resources, technologies, etc.). 
- Francisca ]]> 2022-03-21 09:43:53 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2104938454 Revealing to address people shortage - Enrico https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2127232874  
Amazon founded its in-house Machine Learning University (MLU) and opened it to the external world. With this move Amazon has revealed for free a number of insights and internal knowledge and trainings on ML. In a very strong analogy with the aviation example provided upside of this approach to open innovation its that it helps meet demand that Amazon and the market in general has for ML specialists. 
]]> 2022-04-03 14:42:36 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2127232874 Remain a frontrunner in a dynamic industry https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2133133569 In the fast-scaling fintech industry where new tech solutions pop up too quickly to develop all in-house, M&A is an improtant strategic growth lever to help big companies stay on top.]]> 2022-04-06 17:47:48 UTC https://padlet.com/edtech_lab/cb5w0j7yfomt8sph/wish/2133133569