Chesbrough is to open innovation what Christensen is to innovation in general, and his concepts and ideas are spot on. Chesbrough is the executive director of the Haas Center for Open Innovation, rethinks the concept of open innovation to tackle a new economy.
In his new book, Open Services Innovation, Chesbrough offers the tools to apply service-focused innovation to avoid what he calls “the commodity trap.” Chesbrough explains,”Innovating in services is the escape route from the commodity trap and a solution for growth, giving firms a significant competitive advantage. As they innovate into the future, companies must think beyond their products and move outside their own four walls to innovate.”
If you enjoy this, you may want to listen to the podcast I had with Lance Bettencourt, Service Innovation – Rethinking Customer Needs. Lance believes that true service innovation demands that you shift the focus away from the solution and back to the customer. To achieve this shift in your business–one that takes you from making educated guesses to building a clear model to guide service innovation—Lance Bettencourt instructs on the finer points of how to rethink your approach to the customer’s needs: how the customer defines value in a product or service. Lance’s book, Service Innovation: How to Go from Customer Needs to Breakthrough Services lays out a road map for developing a winning service strategy.