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Methods of exploring innovationLecture 4
Dr. Amar Sahed
University of ACK
[email protected]
March 21, 2013
Dr. Amar Sahed (Petroleum Engineering) Short title of the talk
March 21, 2013 1 / 8
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Focus on Forefront
Understanding the discovery process for opportunities
Relative differences in the costs& benefits of search
Some entrepreneurs are able tosearch and find opportunitiesmore
than others
Cant search because bydefinition opportunity isunknown until
discovered
Entrepreneurs vary in the degreeto which their prior
knowledgetriggers opportunity recognition
Dr. Amar Sahed (Petroleum Engineering) Short title of the talk
March 21, 2013 2 / 8
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Focus on Forefront
Process for identifying opportunities -brainstorming
Gather additional relevantinformation in a structured way
Tap into/allow for morecreative thinking
Rules of Brainstorming- ideageneration
Criticism is ruled out Freewheeling is welcomed Quantity is
wanted Combination and improvement are
sought
laughter and dismissal & that wont work
Dr. Amar Sahed (Petroleum Engineering) Short title of the talk
March 21, 2013 3 / 8
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Creative thinking involves breaking out of established patterns
(valleys) inorder to look at things in a different way, Edward de
Bono
Dr. Amar Sahed (Petroleum Engineering) Short title of the talk
March 21, 2013 4 / 8
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Thinking and brainstoreming
Data fa
ctsand
informa
tion
Creativ
e poss
ibilities
, new i
deas
Positiv
es,ben
efits, g
oodthin
gs
Feeling
s, intuit
ion
Negativ
es,Wa
rnings,
pitfalls
Control
or direc
tionin t
hinkin
g
Dr. Amar Sahed (Petroleum Engineering) Short title of the talk
March 21, 2013 5 / 8
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narrow scope of typical opportunity identification
Innovation is recognized as a key driver of firms
competitiveadvantage and growth
Type of people and methods?
Need people with problem background and those with
solutionbackground
Internal and external approach
Diversify group of people on each team
Ability to choose your team as an entrepreneur
Externally should aim for collaborative innovation Learn more on
giving your problem to those with solutions Learn more on giving
your solution to those with problems
Dr. Amar Sahed (Petroleum Engineering) Short title of the talk
March 21, 2013 6 / 8
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Open innovation approach!
Opening up company borders for inflows and outflows of
knowledge
Co-innovating as opposed to close-innovating
Several benefits and opportunities from open innovation But, how
to manage the internal knowledge under different levels of
openness
Knowledge flowsat the center of open
innovation transactions
Dr. Amar Sahed (Petroleum Engineering) Short title of the talk
March 21, 2013 7 / 8
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Open innovation approach!
It is the combination of Inbound and Outbound OI strstegies
Open innovators invest a share of their efforts into
in-housedevelopment, complement it with knowledge acquisition from
themarket, and sell and/or license out their intellectual property
(IP) inorder to accumulate more funds for internal R&D and
other activities
Outbound OI strategy encompasses in-house product development
andprofits from external exploitation of knowledge
Inbound OI strategy sees knowledge acquisition as the
importantcontribution to the internal innovation process. Firms
purchasetechnologies and other knowledge in order to complement
owndevelopments, to save resources and costs on in-house R&D,
and toshorten the time-to-market
Dr. Amar Sahed (Petroleum Engineering) Short title of the talk
March 21, 2013 8 / 8
