This economic era may well become the golden age of entrepreneurial innovation. There can be no denying the radical change in the way companies choose to create an innovative work environment.
The evidence is clear: the emergence of the cloud, big data/innovation analytics, social media networks, and marketing are good examples of how big players are using technology to innovate traditional business processes.
Image Source – Google
Open collaboration across multiple platforms, including the Internet, is a critical factor contributing significantly to this innovation revolution. Take for example the main disruptors in the field of “sharing economy”: Uber and AirBnb.
With the establishment of an innovative open platform for a seamless exchange of services between merchants and users, these companies have succeeded in finding success in a constantly evolving and competitive market.
What is strange is that the idea of open collaboration has existed since the 80s. It is simply that the emergence of recent technologies has really put this business framework in the spotlight.
More players are taking advantage of it as an innovation tool. But how is it that despite the proven success of open collaboration, many companies are still reluctant to adopt this framework in their corporate philosophy?
The reason why many companies are afraid of open collaboration
The main reason why many players are reluctant to engage in open collaboration is the paradoxical nature of this framework. If they engage in open collaboration can provide businesses with valuable data and the insights they need to refine their business practices, there is another aspect to the situation.
They also open their own best practices and valuable data to competitors to imitate and steal. Many great players do not particularly like to give up their competitive advantage to one of their direct competitors.