Tuesday, September 16, 2008

Open innovation poll - 6 votes so far....

It seems that most of the voters prefer to innovate in small companies. Of course, 6 votes, is hardly enough for any statistical conclusions, but as the readers of my blog are more experienced and wiser than an average citizen, I think this is something to consider.

I do believe in mid-sized (up to 500 employees) companies also. They have some remarkable benefits compared to the less than 50 person sized businesses. If you have 50 employees you usually don't have much "fat" that you can innovate with. Everybody is working for the next salary, next quarters revenue and the next successful customer case.

If you are open-minded, bold, wise and you can get some management backing you can do miracles in a mid-size company. You have a large pool of specialists, lot of technical resources, lot of experience in different fields and a big customer base. You also might have more money for investing.

The best way of doing innovation in my mind is using the best elements of both the big and the small. You should have the resources of the big company, but a really flexible organization like it is in the small companies. This would mean pre-allocated funds, rules and procedures that "the big company managers" have accepted and that you can use dynamically while working with new ideas.

1 comment:

Oleg said...

Why I voted "there is no limit, everybody can do it.":

Innovation is something you can't have a real success recipe for. I agree that smaller companies usually lack the funds and resources, huge companies are usually too conservative, regulated and just don't know anything nor care about innovation.

But... there is no reason why just one person can't create something that bigger companies would spend millions on. And no reason why big companies can't have innovative ideas that they bring to life.

Two examples from top of my head: Dyson and Google. Dyson was the guy who invented a vacuum cleaner which doesn't need dust bags. And you probably know that Google is coming out with new and innovative applications every month.

I think what counts the most in innovation isn't the number of people but the type of people and who they're surrounded with. There are too many people who are afraid of new things so they don't innovate and keep others from innovating.