On the cloud, and counting

Today - electricity, enterprise email provider & online CRM are on your service payment list, served from the cloud.

Hiring talent is world’s oldest way of managing innovation. And way back, people figured out that talent could be also hired as-and-when needed & for-the-time it is needed

Moving on from there, a new revolution is taking place. Innovation is now open.

Following is the direction; a typical senior management has started thinking.

1) I do not need the best talent, I need the right talent.
2) I do not need the right talent forever, I need it for now and I don’t know when next.
3) I do not want to go attempt and search the right talent, I want the right one to approach me.
4) I do not want to keep paying for something with a probability of not meeting my expectations.

If you closely look at this new mindset, you will find it to be a win-win for both the sides.

a) Global pool of talent – The long tail phenomenon, the right talent you are after may not be the most visible or present is the most obvious place, or part of the best and biggest groups. Innovation intermediaries are now connecting your enterprises with the right talent across the world.
b) Customers – are obviously the best source of intelligence on how they can be served better. And when they are served better, then chances of lot many more customers feeling the same is high, directly affecting your business growth. It is becoming increasingly important to connect with your customers, not as an event, but to stay connected.
c) Research vendors – are opening up for a partnership which is not a fixed price contract for doing research, the outcome based contracts are on the rise. Also enterprises are tying up with multiple research vendors, and research vendors working for more clients simultaneously, as a result both sides increasing the chances of hitting the plum.
d) Academia – Most of the academia are happy to be associated with the enterprises on the relevant subjects. You won’t find an innovative enterprise not having few associations for tapping the talent in academia.

These are the things lined up for your next cloud.

The world never stops, the ones perceived to be the best, give way for better ones.

Tip is – go tap it.

When in Rome, why do what Romans do. My views on “open innovation”

In-house innovations are great, when the companies and individuals have the capability, when these innovations are utilized to address the market need, when one does not stop at one-off innovations and off course when these innovations does not cost earth. But these are the exact challenges you and me face with in-house innovations, one or more of the above is usually not true.

I believe that more and more companies are opening up to "open innovation" as an extended arm to their in-house innovation effort. BT, P&G, Nokia to name a few.

Open innovation, apart from giving you a wider perspective on the solution, can as well change your problem definition itself!

Organizations do innovations, and then wait for one of them to click, the new trend however is towards “on demand innovation”, benefit from it, and move on to next one. It does not matter from where the ideas come from, what matters is how much you can benefit from it.

Software as a service and now cloud computing, in open innovation you pay only for results, these new trends make essential services accessible and affordable.

You no longer write one on one snail mails, nor do you refer Britannica encyclopedia, your city has grown to become your country and your country has expanded and has now become the world, and you access the world from your desktop. This connected world has opened up the new ways of doing everything and innovation is no exception, future of innovation is “open”, the world has opened up, and so has everything you do.