In the “Bright Ideas” section of this Sunday’s NY Times Business section, Steve Lohr discusses innovation in the digital age. Google– the bottom-up model– is morphing into the top-down model of Apple’s founder Steve Jobs. Yet both are seeking to maximize the potential of low-cost Internet innovation when measured against the huge overhead costs of maintaining a transaction, profit-based model of the corporation and its need to “feed the beast” of innovation that can return a profit. GE, P&G, Microsoft, and others, all have dabbled into the realm of crowd-sourcing with very different results. Still needed are Internet tools and platforms that allow companies and NGOs to create and distribute their products or ideas. The question that seems to be raised is, What are elements needed for successful open innovation? Is it top-down or bottom-up or a blend of both? This piece suggests some thoughtful approaches of both.
Read the article: The Yin and Yank of Corporate Innovation here.