Strategic alliance of the marketing technology and the open innovations are in today’s time, topics of expanding interest. Innovation has always been a top priority concern for high operating organizations. Innovations are frequently taken into consideration as the royal path that leads towards expansion. Now innovations are the new wave of future for every organization, big or small, private or public enterprise.
Surprisingly enough, innovations are tough to define. At its core origin, “to innovate” is a word from the 16th century Renaissance Latin word “innovarte” which means to renew. The innovations are highly different from inventions that refer directly to the creation of new idea or a product or even a method. In fact, innovation is also different from enhancement which means doing the exact same thing just a little better than done previously.
Innovation is about altering and renewing something that already exists but in an original and novel manner. Recently the consultants have added an idea of value creating to the word innovation in order to modernize the concept so that it means doing something in a different, new and original manner to create additional value for the customers and end users.
In conventional thinking, the innovative strategies were mostly structured and implemented in-house in order to gain a competitive advantage. Innovation was also frequently much more defensive or entry barriers when compared to offensive or fresh expansion opportunities. Owning the scientists, engineers, and the material resources to enable the innovative products and services was the only important strategic asset that was meant to assure the future success of the business enterprise.
New ecosystems and partnership models are the way that most of the enterprises attempt to amplify the number of their innovation pipeline in the near future. The economy of innovation is the practical application of bundling procedures, technology, products and services in unique ways to increase revenues. Strategic alliance and innovations will replace the closed innovations and buy/build replicas within a single generation.
The organizations that are pushing their boundaries to design and carry out original partnerships are already on the verge of generating fresh, sustainable and pioneering ecosystems.
Researching for the right mix of in-house investigation, partnership solutions, original alliance configurations and joint ventures in order to increase the innovations is now a strategic essentiality. The industry examples of the strategic alliance innovation comprises of:
- Retail/CPG sector: Innovations are a key source in the packaging and distribution business of products, especially the food products, permitting this sector of the business to escape the led down spiral of constant cutting back on cost and rationalization.
- Healthcare Information Exchange or HIE has offered a platform which allows sharing of the certified medical records in a paperless manner across the formerly incompatible systems, in a protected way, and displays great promise for reducing spiralling out of control expenses such as smart platforms.org.
- Life science enterprises are sharing the exploration costs, especially in the sub sectors of biotechnology as Research and Development departments reduces and becomes more reactive, aligning the business solutions and science projects.
- Travel and transportation enterprises are integrating the mobile technologies in order to create easy and simple micro e-payment and information services to commuters in the fresh and emerging innovative ecosystems.
- Government body is in spite of all the cynical beliefs that we have, to the contrary are now becoming more open as well as innovative at all levels including local, regional, nation as well as transnational and Public Private Partnerships are leveraging the innovation to offer a sustainable myriad of chances for the business enterprises to make the profit as well non-profit organizations do the social good and enhance efficiency such as smart grids, smart cities, and much more.
So, of course, this begs to ask the question: Who is actually capturing the value created by invention and coordination? How are they managing to do it? How do the private enterprises earn enough money to offer incentives to their partners? What are the new business enterprise models to sustain more innovations?
By pooling together intellect in a system architecture, invention and open coordination can generate superior products and services that are relative to those that are produced by a fewer number of minds huddled together in a single enterprise. The strategic problem here is about how to capture them and then sustain the created value without alienating the communities, individuals, or ecosystem members that are responsible for the continued development of the goods, services or quality.
The ecosystem creation via innovation is promising and will be the path for all the organizations to be structured in the future,the pace at which the innovations and strategic alliances are accelerating, the new digital infrastructures like cloud computing, mobile and virtual social networks are now enabling the individuals to create huge impacts.
In conclusion, open innovations and strategic alliances are exciting and thrilling developments that are going to enchant us with exclusive and original goods and services in ways that are beyond our imagination!
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