In 2008 McKinsey Quarterly published the article “The next step in open innovation,” mentioning distributed co-creation for the first time but concluded it was to early to predict what the outcome of this new business strategy would be. Then last week McKinsey Quarterly published an article about ‘Ten tech-enabled business trends to watch’. The first business trend they described was ‘Distributed co-creation moves into the mainstream’.
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For a long time I have been interested in what happens with the cost structure of new product development when you start involving users in the innovation process. For the last decade research has pointed out that traditional NPD is becoming more expensive because of:
- Increasing investments in NPD of overall budget
- Increasing NPD cost per product
- Decreasing NPD cycle time
- Increasing NDP failure rate
In order to reduce risk and increase sales, companies often choose products aimed at a segment’s lowest common denominator, which results in a poor fit between consumer preferences and products and lately we have seen several examples of adverse consumer reaction to mass market products.
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I’ve been looking into what changes in technology, and society have come together to make dispersed, global co-creation a huge trend in business and market strategies. Dr Sudhanshu Rai has posted a great historical analysis of the history of collaborative ways of working internationally with Indian partners at http://barha.asiaportal.info/blogs/in-focus/2010/june/be-reminded-it-co-creation-we-should-understand. He outlines four phases: ‘Y2K,’ ‘Bodyshopping,’ ‘Outsourcing,’ and ‘Co-creation’ as the final, and next stage. The first stage, Y2K, sent India into an international arena at a speed that had not been seen before, it must have been stunning from the front lines.
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February 22nd 2010, project JOIN is inviting to a research seminar where we will share the findings from the first phase of Project JOIN.
During the last 6 months we have undertaken a comprehensive user study of the platform’s three user groups – the designers, the manufacturers, and the consumers, and we have spoken with industry experts.
If you are interested in participating please follow this link JOIN Seminar the seminar will be conducted in Danish.
Crossroad Innovation will lead a seminar about the future of distributed co-creation at Copenhagen Business School, June 18th. In cooperation with Alexandra Instituttet and Copenhagen Business School, Crossroad Innovation is hosting a workshop about how companies can add value propositions to their services and products and improve their new product development by engaging online communities.
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Crossroad Innovation’s Japanese partner, Elephant Design, is featured in an article on the ministry of commerce’s website. The article is written by Jørgen Rasmussen – Design Director, Århus architect school. Jørgen Rasmussen discusses the business model in detail and the implications for future innovation.
For full article: http://www.ebst.dk/brugerdreveninnovation.dk/cuuscoo
Crossroad Innovation is a partner in JOIN. The project will develop a new web based innovation platform that integrates users into the innovation process.
JOIN – an acronym for Joint Online Innovation Network – aims to develop an online community innovation platform where companies, user-designers and consumers together can develop products, which better meet the needs of the consumers.
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McKinsey Quarterly Has an interesting article about distributed co-creation.
“The next step in open innovation The creation of knowledge, products, and services by online communities of companies and consumers is still in its earliest stages. Who knows where it will lead?
For most companies, innovation is a proprietary activity conducted largely inside the organization in a series of closely managed steps. Over the last decade, however, a few consumer product, fashion, and technology businesses have been opening up the product-development process to new ideas hatched outside their walls—from suppliers, independent inventors, and university labs.”
Continue reading article: http://www.mckinseyquarterly.com/Business_Technology/Infrastructure/next_step_in_open_innovation_2155?gp=1
