Monday, 4 November 2019

Do Networked Innovation Efforts Allow for Faster Results ? More Often Than You Might Think

In the race to actively increase the need for tightly coordinated innovation efforts inside industries where end user acceptance is the key to new product development usage, the factors mitigating failure are bound by not only wide spread usage, but over all knowledge. As it's often been famously said that people don't know what they want until you show it to them is key to adoption and even more so constrained when the group of ground breakers are relatively small and without a large voice.

In industries where high latency channels ( word of mouth, group gatherings necessary, etc.,, ) are the primary mechanism for innovation adoption this can sometimes cause increased difficulty in bringing innovations to the real world The effect then becomes, as detailed in Preference for Innovation Networks: A Choice Experimental Approach we see that leading firms, SME's choice of networks is affected negatively by the fact that these networks are composed of manufacturers and research institutions, and positively by the fact that information is shared confidentially among network partners where the primary network aims are building firms’ network of partners rather than, at large firms, where innovation has a function tightly paired to the outward effects of usage validity.

Sampling more than 200 new product development firms / manufacturers firms across Europe conclusions ranged from successes of inter-organizational networks depends on the exact and specific fit between the
network’s design ( from key industry players ) and the innovation and networking behavior of the firms specifically how open they were to partner via their direct to consumer activities. With specific and exact correlation it can be seen how specific activities in network creation lead to highly optimized and effective innovation capabilities that directly effect firm effectiveness in the market place.


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