InnoCentive hosted a webinar featuring our very own Dwayne Spradlin and Alph Bingham, co-authors of the recently published book, The Open Innovation Marketplace: Creating Value in the Challenge Driven Enterprise.
During this live event, which gathered hundreds of participants from Fortune 500 enterprises, government agencies, and nonprofit organizations, Dwayne and Alph discussed what motivated them to write the book, the importance of Challenge Driven Innovation (CDI) and other key open innovation principles, real-world case studies of CDI in action, and how companies can evolve into true Challenge Driven Enterprises.
Audience Polling Results
We asked several polling questions of the audience during the event. Here’s a snapshot of the questions and the participants’ answers:
What are the biggest innovation challenges you face today? (check all)
43% – Measuring the success of your innovation efforts
41% – Time-to-market with new products
33% – Lack of funding and resources
30% – Balancing risk and reward
15% – Increasing cost with diminishing returns
Analysis: Unsurprisingly, time-to-market was a top answer. Yet innovation measurement trumped time-to-market, which is indicative of the difficulty companies face in measuring the success of their various initiatives. Alph dives deeper into this topic in his blog post. (more…)