Innovation now and in the future means more collaboration

Ateneo Professor on Entrepreneurship

From Business Week/Bloomberg by Thomas Weber and Joerg Schorttke | July  10, 2013

Innovation can no longer come from one man in the organization or from innovative companies.  This seems to run counter to the idea that innovation is one of the core activities of a company as per Peter Drucker.

Much of the innovation comes from collaborating teams.  The prime example of this is P and G Connect + Develop where suppliers and contractors provide the new ideas.  It is claimed that 50% of innovation of P & G comes from across teams of suppliers and contractors.

The reasons for these is two fold:  demand for innovation is more than the suppy;  the innovators would rather work elsewhere not in organizations.

The formal structure for this collaboration has yet to be invented;  in the meantime innovation will be done in an unstructured; loose fluid way