The transition was far from smooth when Procter and Gamble first adopted open innovation. Internal teams, accustomed to safeguarding proprietary knowl

7 Open innovation pitfalls that could sabotage your success

submited by

Style Pass

2024-11-07 11:00:02

The transition was far from smooth when Procter and Gamble first adopted open innovation. Internal teams, accustomed to safeguarding proprietary knowledge, conflicted with external partners over shared goals and responsibilities. Misaligned expectations led to tension, jeopardizing the innovation they sought. That was just the one of many open innovation challenges the team was about to face.

It took several steps, including redefining its approach, setting clear goals, and streamlining communication channels to align both sides and execute a successful open innovation plan.

Open innovation requires careful navigation. Organizations often fail to recognize and address these challenges early. This article outlines seven common open innovation challenges and pitfalls with practical solutions to overcome them.

Collaborating externally comes with the risk of losing control over the company’s intellectual property. When such information is shared, the potential for IP leaks increases. This enables competitors to replicate innovations and undercut your competitive advantage.