Milestone 1: Open Innovation Critique

Muhammad Sule

Nexford University

BUS 6120 Introduction to Intrapreneurship and Innovation

Geoffrey Vanderpa

April 14th, 2024

Introduction

Open innovation is a business approach that encourages organizations to use the knowledge of others

instead of creating it from scratch, which fosters creativity. The utilization of open-ended innovation

challenges has the potential to bring about a true behavioral revolution when contrasted with the

mindset of business silos and confidentiality that is frequently linked with an organization's R&D

ethic. Creating partnerships with organizations that have similar values, schools of thought, research

facilities, and hubs for advances in technology is viewed favorably (Ennomotive, 2021).

Open innovation also refers to the practise of combining internal and external resources in order to

cultivate an innovative culture within a company (Novoseltseva, 2017). The organization can increase

the range of possibilities for innovation by using the circumstances around it strategically and

dynamically by extending the boundaries of its creative procedure in this way. Thus, innovation is the

outcome of the interaction between the organization's goal of producing innovative and superior

products, services, or company structures and ideas, innovations in technology, procedures, and

channels of distribution from inside as well as outside the organization (Fried, 2022).

The chosen three case studies for innovation are;

  General Electric (GE)

 Telegram

 Samsung

General Electric (GE)

With the introduction of ecomagination by General Electric in 2005, the corporate definition of

"green" was altered. Ecomagination was more than just a concept; it was the organization's

revolutionary strategy for producing cleaner energy, reducing emissions of carbon dioxide, reusing

and recycling water-based, and reducing water consumption—all while making a profit. In just ten

years, Ecomagination has generated more than two hundred billion dollars in revenue. "Our goal is to

create an ecosystem effect," says Deb Frodl, the president of Ecomagination worldwide. "Our goal is

to inspire more companies to collaborate in order to tackle the world's most urgent resource problems.

Collaborating to develop solutions with global relevance is our aim. The global water and energy

crises are pressing issues that the business community isn't ready to wait for solutions to (General

Electric, 2015).

GE's FirstBuild is a global collaboration network that leverages creator culture creativity to

transform the ideation, architecture, and manufacturing of essential home appliances. GE's

"Unattainable Missions" free-thinking contest is one of the business's other open innovation initiatives.

Scholars from all across the world were given the task of using GE technology to refute metaphors

connected to unpredictability in this assignment (Kellner, 2017).

Telegram

Telegram is a chat program that may be utilized on personal computers and smartphones and tablets.

Not only can users exchange text and media outlets, but they may additionally share paperwork,
 stickers, and pictures. Apart from standard chat features like texting, receiving, reading status updates,

sharing place of residence, creating user groups, storing documents, making calls via video, and so

forth, there are

The primary features of Telegram are its user-friendly interface, its simple layout, and its security

features, which tackle the pervasive problem of online data leaks. Telegram operates on a low

frequency by utilizing a technique that permits infinite transfer of files and cross-device

synchronization. These improvements have made the application standout among its competitors. The

transparency with which Telegram's safety features were made accessible for general inspection and

assessment may be attributed to the app's success. Also, according to The Fix (2021) it is the most

easy to use global texting app.

The most innovative feature of Telegram is the ability to keep one's account private. Other

enhancements involve the option to permanently erase messages posted by others from private

discussions and archive talks, which eliminates them entirely from the subject matter list.

Samsung

Samsung Accelerator is a cutting-edge initiative created to support a network of creatives,

intellectuals, and scientists who can collaborate on a range of projects. The Accelerator initiative

creates an environment that is conducive to creativity and development for new firms. Samsung offers

these companies entree to its vast resources, workspace, and a financial boost to help them get off their

feet. The concept is that the products created by in-house startups would eventually either turn into

official Samsung offers or teach the broader company important lessons. Samsung's open innovation

strategy is based on four key pillars: partnerships, accelerator programs, acquisitions, and new

enterprises.
 Samsung intends to capitalize on the plethora of concepts that more agile rivals have already created

by partnering with younger companies. These companies frequently supply goods that can be

incorporated into or used in conjunction with Samsung products, adding value for both Samsung as

well as the other company (Novoseltseva, 2017).

Compare and contrast their major drivers, techniques, and evidence of successful innovation sourcing

General Electric (GE) Telegram Samsung

Major • To solve problems that • To improve the dynamic, creators who can work

Drivers appear insurmountable and effective, and together on a variety of

upend the status quo, as contemporary nature of problem-solving abilities

exemplified by the chat conversations projects.

"Impossible Missions" • To bring hundreds of • To work with up-and-

initiative. users together under one coming businesses and share

• To find innovative ways to intuitive chat platform. revolutionary concepts

address environmental issues, • To offer safety and Samsung's collaborative

such as using less energy, openness innovation strategies include

producing fewer emissions of collaborations, ventures,

carbon dioxide, and reusing incubators for startups, and

and recycling water. acquisitions.

• Working together to create

solutions that are applicable

everywhere

Techniques • Ecomagination: Expert, Open source software, 1. Partnerships: collaborating

Used scientific, and entrepreneurial cloud computing, and open with other digital companies

R&D and partnerships source platformsA to enhance the usability of

(Novoseltseva, 2017). collection of some of the already-available products

• Novoseltseva (2017) wrote most popular stickers (Novoseltseva, 2017)

Incredible Missions: The within the app 2. Ventures: Samsung's

College Edition, which aims to technology are enhanced by

draw creative students with a early-stage entrepreneurs

strong command of pertinent (Novoseltseva, 2017).

technical skills. 3. Accelerators: Giving

• FirstBuild is an ecosystem business owners the tools

and micro-factory of they need to develop

developers, engineers, and (Novoseltseva, 2017).

scientists that collaborates 4. Investments focus on

through co-creation businesses making progress

(Novoseltseva, 2017). in areas that Samsung plans

to prioritize in coming years

(Novoseltseva, 2017).

Evidence • In the last ten years, GE has • Telegram is one of the • Samsung's C-Lab Inside

generated an estimated $232 most popular messaging project has created 45

billion in income from the applications in the entire businesses thus far, double the

Ecomagination programme globe, with over 500 forty-five million dollar initial

while spending a total of million active users every investment made by the

seventeen billion dollars on month by 2021. Iqbal corporation (Onova, 2020).

 development and research (2017)

efforts. (2017, Novoseltseva). • Over a billion users have

downloaded Telegram, and

approximately 430 million

users are still using the

messenger app as of 2021.

Recommendations for Future Open Innovation Strategies

General Electric (GE) Telegram Samsung

Despite its long history, GE is Telegram should align their Numerous analysts have suggested

renowned in the business community innovation strategy with the that Samsung focus its future efforts

for being a progressive and inventive current landscape. Organizations on developing innovative mobile

company. This inventiveness extends categorized as "ecosystem payment methods. Economic

to GE's marketing and digital innovators" include startups, development depends on a

transformation initiatives in addition universities, VC firms, PE commercialized system that
to its product line. As per Davis (2017). companies, accelerators, and simplifies business and personal

incubators. A framework for connections. In the upcoming years,

The use of technology to create global
innovation is a system in which electronic payments might surpass
communities of consumer innovators
every component works together traditional payments.
is a crucial component of
decentralized co-creation due to the
growing demands of consumers for
new, hassle-free, environmentally
friendly affordable, and uniquely
branded products.
FirstBuild is an open-source innovation
site where users may share concepts
for fresh goods, vote on their favorite
concepts, and enter contests to get
their ideas built. GE can expand the
"Distributed Co-Creation" program,
which entails using technology to build
worldwide communities, and raise its
investment in this innovation.
The main goal is to encourage and
make it easier for customers to
submit suggestions that could aid in
the growth of franchisees.
to benefit the total (Rodriguez,
2019). A profitable company's
innovation plan incorporates
components from outside and
inside the organization. This
process results in the collection
and internal filtering of ideas to
identify which of them will be
transformed into models and
potentially into commercially
viable goods. If a company's
development strategy is
customized to the main goal, this
strategy works well (Rodriguez,
2019).
Client convenience will rise as a
result. Technology advancements
will make contact-less transfers
possible and remove phone
limitations, making this value offer
both appealing and feasible.
If Samsung employs this new
strategy with its smart phone and
user-friendly software, it can win
both in terms of value and income
propositions.
Second, in order to maintain their
competitive advantage in the market,
Samsung might find it beneficial to
look into the marketing tactics of
competitors in order to gather
information for ongoing
improvement.
 References

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