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The Open Innovation Marketplace: Creating Value in the Challenge Driven Enterprise Hardcover – April 11, 2011


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Product Details

  • Hardcover: 272 pages
  • Publisher: FT Press; 1 edition (April 11, 2011)
  • Language: English
  • ISBN-10: 9780132311830
  • ISBN-13: 978-0132311830
  • ASIN: 0132311836
  • Product Dimensions: 9.2 x 6.3 x 0.9 inches
  • Shipping Weight: 1.1 pounds (View shipping rates and policies)
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (15 customer reviews)
  • Amazon Best Sellers Rank: #1,604,439 in Books (See Top 100 in Books)

Editorial Reviews

From the Back Cover

“Seldom is there a book on innovation that aims to innovate both the innovation process and the firm itself. This book shoots high and delivers! The Open Innovation Marketplace is both inspirational and practical. It lays out the foundations for a new kind of twenty-first century firm–the Challenge Driven Enterprise–that is agile, fast, and can leverage capabilities from around the world.”

–John Seely Brown, Cochair, Deloitte Center for the Edge; Former Chief Scientist, Xerox Corp; and Director, Xerox Palo Alto Research Center (PARC)

 

“Many people talk about how work is changing, but Alpheus Bingham and Dwayne Spradlin have actually lived it. This fascinating report from the front lines of open innovation is filled with deep insights for all organizations.”

–Thomas Malone, MIT Sloan School of Management and Author of The Future of Work

 

The Open Innovation Marketplace introduces groundbreaking strategies and models for leveraging the world’s best innovation sources to drive far more value from new products, services, and business models–and do it with far less risk.

 

Alpheus Bingham and Dwayne Spradlin draw on their pioneering experience building InnoCentive, the leading global platform for open innovation. Writing for CxOs, R&D leaders, and innovation strategists, they show how to dramatically increase the flow of high-value innovations, access innovators you would never hire internally, and successfully integrate external innovation throughout your business.

 

Through illustrative case studies, Bingham and Spradlin demonstrate open innovation at work in pharmaceuticals, consumer products, software, aeronautics, and beyond. They show how to construct “challenges” that focus innovation on critical business needs, can attract breakthrough strategies and solutions, and how to transform your enterprise to do it over and over again. 

  • Integrate multiple innovation channels in one high-value framework
    How to successfully choose and integrate complementary innovation sources
  • Access the “long tail” of expertise and a whole world of innovators on demand
    Tap innovation from an entire planet of creative and passionate problem solvers
  • Gain the breakthrough benefits of a Challenge Driven Enterprise
    Virtualize and transform your business for twenty-first century competitiveness
  • Reengineer your organization to enable open innovation and better business practices
    Overcome the Not Invented Here (NIH) mentality and unleash your organization’s innovation potential

About the Author

Alpheus Bingham is a pioneer in the field of open innovation and an advocate of collaborative approaches to research and development. He is co-founder and former president and chief executive officer of InnoCentive.

 

Alpheus spent more than 25 years with Eli Lilly and Company; he retired as vice president of e.Lilly and vice president of Research Strategy. He had formerly been the vice president of Sourcing Innovation. He served on both the R&D Policy Committee and the corporate Operations Committee. He has deep experience in pharmaceutical research and development, research acquisitions and collaborations, and R&D strategic planning. During his career, he was instrumental in creating and developing Lilly’s portfolio management process and establishing the divisions of Research Acquisitions, the Office of Alliance Management, and e.Lilly, a business innovation unit, from which was launched various other ventures that create the advantages of open and networked organizational structures, including InnoCentive, YourEncore, Inc., Coalesix, Inc., Maaguzi, Inc., Indigo Biosystems, Seriosity, Chorus, and Collaborative Drug Discovery, Inc.

 

He currently serves on the Board of Directors of InnoCentive and Collaborative Drug Discovery, Inc.; the advisory boards of the Center for Collective Intelligence at MIT and the Business Innovation Factory, and as a member of the board of trustees of the Bankinter Foundation for Innovation in Madrid.

 

He has lectured extensively at both national and international events and serves as a Visiting Scholar at the National Center for Supercomputing Application at the University of Illinois at Champaign-Urbana. He is also the former chairman of the Board of Editors of the Research Technology Management Journal. Alpheus was the recipient of The Economist’s Fourth Annual Innovation Summit “Business Process Award” for InnoCentive. He was also named as one of Project Management Institute’s “Power 50” leaders in October 2005.

 

Alpheus received a B.S. degree in chemistry from Brigham Young University and a Ph.D. degree in organic chemistry from Stanford University.

 

Dwayne Spradlin has been on the forefront of business innovation and leadership for more than 20 years. He is intensely focused on two areas: finding new ways to unleash and focus human potential using technology and defining the role of leadership in driving change in our businesses and culture.

 

Dwayne serves as president and chief executive officer at InnoCentive, the global leader in Open Innovation. Previous positions have included president of Hoovers Online, president and COO of StarCite, senior vice president of Corporate Development VerticalNet, and director at PriceWaterhouseCoopers, where he spent ten years delivering Technology and Strategy solutions to Fortune 500 clients including Intel, Compaq, Caremark, and United Airlines.

 

Dwayne currently sits on the Board of Directors of both InnoCentive and Cortera.

 

Considered an authority on crowdsourcing, Open Innovation, and the role of Innovation in Philanthropy, Dwayne has been a keynote speaker at events on five continents, He is frequently interviewed and has been featured on CNBC, ABC, NPR, and BBC and quoted in the Economist, BusinessWeek, The New York Times, and many other journals and periodicals.

 

Dwayne holds a B.A. degree in applied mathematics and an M.B.A. degree from the University of Chicago. He lives in Southlake, TX, with his wife and three children.

 


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Customer Reviews

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This book was definitely refreshing to read.
Crystal
The Open Innovation Marketplace is THE book for people who want to really understand how open innovation works and what it means for organizations.
Mark P. McDonald
Leaders within the hundreds of companies within that chain would be well-advised to read the case study in Chapter 2.
Robert Morris

Most Helpful Customer Reviews

3 of 3 people found the following review helpful By Aretae VINE VOICE on August 18, 2011
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
I was fairly unimpressed by the book.

I've reading on open innovation for about 10 years, now, and fundamentally, this book didn't give me anything new. I had a hard time finishing the book, as there just wasn't any information that was new for me.

The first part of the book discusses how innovation often doesn't happen inside an organization, and further discusses the use of prizes to get results. If you've been watching the X-Prize and read An Army of Davids, there really isn't much new there.

Chapter 5 gives a framework for thinking about how to decide what path to innovation to take. Of the topics in the book, I personally found this the most useful.

The remainder of the book, chapters 6-9, was basic stuff that anyone who has looked into the field of Organizational Development should already know. Basic topic of how to change an organization (John Kotter's work, for instance), with very slight variation. While it's nice to see it taken seriously, If you've read anything in the OD space, you can skip the last half of the book.

If you're new to Prize-based innovation, long tail distributions, and the field of Organizational Development, this book likely has a lot of good information for you. Otherwise, you could skip it rather easily.
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1 of 1 people found the following review helpful By Sally VINE VOICE on December 14, 2011
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
This is a book for the CEO or business owner who loves to read interesting ideas on how to grow his business more. It's not so great for the little man, though, who wants to find executable steps that will begin to add innovation and growth to his much smaller one-room business.

There are a lot of ideas given, e.g
How to set up innovation groups
What to do with good ideas
How to bring ideas to the implementation stage
despite many of the examples feeling like a plug for the authors' business.

In the second half of the book, the authors talk about the challenges large corporations must face and act on if they want to keep moving forward with their business's offerings. With so much happening so fast in the business-consumer relationship, any business that is not heavily building its online community and utilizing that community's collective intellectual resources will have to take a backseat in the near future to those that are.

The days of getting a job and staying in it are soon over, so even individuals needs to look at their skills, life lessons, and knowledge, and learn how to turn all that into an offering that will attract the attention of businesses that need it.

Ultimately what this book does is tell you that the days of hierarchy and small-mindedness are over. Today is the day of cultivating a global family's mind and working together to produce new ways of building everything differently/better. It's time that the little man is being seen as a valuable commodity. In fact, it's time for the little man to become THE valuable commodity.
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5 of 7 people found the following review helpful By JGB on April 29, 2011
Format: Hardcover
I'm always a little skeptical of new business books that claim to be groundbreaking but then only discuss pie-in-the-sky theories and models without the more practical details of how the theories and models have actually been implemented in real world situations. The Open Innovation Marketplace was a pleasant surprise because it not only addresses the "what" of challenge driven innovation, but also the "how." I particularly liked the NASA and P&G stories. I ding 1 star because the FT Press editors need some help, they could have done a better job.
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By Mike on April 19, 2013
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
Perhaps when this book was published the content was more novel. The discussion of the sources of innovation has been around for many years now. There is a small hint at newer ideas around gamifcation of innovation when talking about prize philanthropy and CDE - but the author misses the opportunity to examine this idea more closely and instead walks the well worn path in his discussion. If this is a new topic to you, then this will serve as a decent introduction.
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Format: Hardcover
In Open Business Models (2003), Henry Chesbrough observes, "An open business model uses a new division of innovation labor - both in the creation of value and in the capture of a portion of that value. Open models create value by leveraging many more ideas, due to their inclusion of a variety of external concepts. Open models can also enable greater value capture, by using a key asset, resource, or position not only in the company's own business model but also in other companies businesses." Then in Open Innovation (2005), he develops this concept in much greater depth. As Chesbrough explains, what he characterizes as "Closed Innovation" has a number of implicit rules such as "The company that gets an innovation to market first will usually win" and "We should control our intellectual property, so that our competitors don't profit from our ideas."

As a result of several "erosion factors," the Closed Innovation paradigm is rapidly becoming obsolete. (Please see Table 1-4, "Contrasting Principles of Closed and Open Innovation," on Page xxvi in the Introduction.) "When the innovation context shifts from Closed to Open, the process of innovation must change as well." Today, adoption of the Open Innovation model has become wide (i.e. global) and deep (i.e. enterprise-wide and even federation-wide).

In what could be viewed as a "State of the Global Marketplace" analysis, Alpheus Bingham and Dwayne Spradlin brilliantly explain how and why global networks of highly specialized expertise create value in the challenge driven enterprise.
I especially appreciate the provision of a case study at the conclusion of Chapters 2-9. Each focuses on achievement of high-impact results.
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